CLIMATE INVESTOR ONE SECOND CLOSE AT USD 475 MILLION

CLIMATE FUND MANAGERS ARE PLEASED TO ANNOUNCE THE SECOND CLOSE OF CLIMATE INVESTOR ONE AT USD 475 MILLION.

22-12-2017

First close of Climate Investor One at USD 412 Million

Climate Investor One (CIO) is the inaugural financing facility launched by Climate Fund Managers (CFM), of an intended series of climate finance initiatives designed to combat the detrimental effects of unmitigated climate change.

04-07-2017

Development and cooperation agreement signed with french..

Climate Fund Managers mobilize large volumes of private sector finance on the back of enabling public sector capital.

01-07-2017

Power Africa commits to Climate Investor One

In advance of Earth Day on April 22, Dutch development bank FMO signed an agreement with Power Africa to spur investment in renewable energy projects across sub-Saharan Africa.

22-04-2016

Prize Winning Initiative, Climate Investor One

Climate Investor One, formerly known as the Climate Development & Finance Facility (CDFF), is a prize winning initiative from the Global Innovation Lab for Climate Finance.

01-12-2015

#PAGE-THE SECOND CLOSE OF CLIMATE INVESTOR ONE AT USD 475 MILLIONTITLE#

CLIMATE FUND MANAGERS ANNOUNCES THE SECOND CLOSE OF CLIMATE INVESTOR ONE AT USD 475 MILLION

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22-04-2016

Power Africa commits to Climate Investor One

Through the United States Agency for International Development (USAID), Power Africa will commit US$5 million in support of Climate Investor One (CIO), which finances and helps fast-track wind, solar and hydro power projects in sub-Saharan Africa.

CIO targets medium-size renewable energy projects of between 25 MW and 75 MW, and shares Power Africa’s goal to add 30,000 megawatts (MW) of new power generation capacity and 60 million new business and household connections across sub-Saharan Africa.

“Power Africa’s support of the Climate Investor One is indicative of our continued investment in renewable energy technologies throughout sub-Saharan Africa,” said Power Africa Coordinator Andrew Herscowitz. “From wind parks in Kenya, to solar arrays in Rwanda, and geothermal generation in Ethiopia, Power Africa and our partners are putting the continent’s vast renewable resources to work. This agreement with CIO will not only help deliver new access to reliable, affordable, and sustainable electricity, it will help our African government partners boost economic development and tackle climate change at the same time.”

High energy demand and the challenges presented by climate change have advanced renewable energy solutions in sub-Saharan Africa. Many countries have established or are strengthening supportive policy and regulatory frameworks for private investment of renewable energy infrastructure activities. CIO combines three innovative investment funds into one: a Development Fund to reduce development times and improve bankability of projects; a Construction Equity Fund to provide a single source of equity finance to fund construction and progress projects to an operational stage; and a Refinancing Fund to provide long-term and low risk debt during operations. The three funds together allow CIO to help early-stage climate mitigation projects achieve bankability while providing an end-to-end public-private financing solution.

Linda Broekhuizen said “We are proud of our cooperation with Power Africa to accelerate and simplify the financing of renewable energy projects in Africa. CIO is an innovative climate financing structure that fits very well in our work to empowering entrepreneurs in a sustainably responsible manner”.

USAID’s funding of US$5 million will go directly toward renewable energy projects financed by CIO in sub-Saharan Africa. To date, the Dutch Government have also expressed interest in contributing to donor funding.

Andrew Johnstone, CEO of Phoenix InfraWorks, and co-founder of the CIO concept said “Basic infrastructure is a necessary foundation stone of any healthy, vibrant society, and climate change is an unavoidable truth.  Climate Investor One brings together the need to address climate change on a global basis with the provision of power in geographies where development is most needed.  With the collaboration of Governments and the private sector Climate Investor One points the way to mobilizing sustainable capital in a manner which affects people lives positively. We are excited about the potential that the combination of Power Africa and Climate Investor One offers to the power deficient regions of Africa."

Power Africa’s support of the CIO follows a recent MOU with the Government of Canada, and agreements with the Governments of Norway and the United Kingdom signed at COP 21 in Paris.

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