The Ireland Strategic Investment Fund (ISIF) has committed up to €140 million as a cornerstone investor in a new climate action infrastructure fund launched by TirNua Capital Partners, bringing the vehicle’s total commitments to €340 million.
TirNua is an independent, employee-managed private markets investment manager formed by Irish Life Investment Managers and Northleaf Capital Partners. The firm was created to channel long-term capital into infrastructure projects that support Ireland’s energy transition and broader decarbonisation efforts.
The new fund will primarily invest in infrastructure assets tied to the country’s energy transition. Target sectors include renewable power, battery energy storage, data centre decarbonisation, offshore wind support services, building efficiency, biogas and green transport.
At least 60% of the fund’s investments are expected to be deployed in Ireland. The strategy is designed to attract institutional capital, including pension funds and other investors, into projects that advance Ireland’s climate objectives.
ISIF said the investment aligns with its broader climate investment program, which aims to accelerate capital deployment into projects supporting the country’s Climate Action Plan. The fund is also expected to help mobilise additional co-investment into Irish businesses and infrastructure.
The sovereign investment fund reached its initial €1 billion climate action investment target in 2025, two years ahead of schedule, and has since announced plans to deploy an additional €1 billion between 2025 and 2029 as part of an expanded program.
Officials said the TirNua investment will help support infrastructure development tied to Ireland’s energy transition while also generating economic benefits through job creation and local investment.
KEY QUOTES:
“I very much welcome today’s announcement by ISIF of €140 million – an investment that will help drive progress in the crucial area of climate action. This joint venture is the latest example of ISIF backing projects that contribute significantly to delivering the Government’s Climate Action Plan. By investing in these vital infrastructure projects, we are supporting the energy transition in Ireland, while also creating jobs and supporting local economies.”
Simon Harris, Tánaiste And Minister For Finance
“This commitment to TirNua’s fund is a strong example of how ISIF’s climate investment program is supporting the Government’s Climate Action Plan – backing both new and existing fund managers, platforms and businesses to enable infrastructure to support Ireland’s energy transition. TirNua is a pioneering Irish platform which will seek to catalyse investment from pension funds and other investors into the energy transition in Ireland, driven by the ILIM partnership. We look forward to working with TirNua in the years ahead.”
Rebekah Brady, Interim Director Of ISIF
“As a first-of-its-kind private markets platform committed to Ireland’s transition to a lower carbon economy, TirNua represents an exciting new way for investors to channel long-term capital into the projects that will positively shape Ireland’s future. We are especially proud to have ISIF as a cornerstone partner on this journey.”
David O’Brien, CEO Of TirNua Capital Partners
