Green bond issuance

The Dutch Development Bank (FMO) has successfully achieved the first closing of $412 million Climate Investor One (CIO) fund.

“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,” CFM said in a statement on Tuesday.

The fund was designed to facilitate developments in renewable energy projects in developing and emerging markets – Africa, Asia and Latin America – focusing on solar, wind and run-of-river hydropower projects in the designated regions.

Climate Investor One partners

CFM explained that CIO will help “mobilise private sector financing at scale supported by catalytic public sector donor funding.” Read more…

The Fund is a joint effort between FMO and Phoenix InfraWorks, South African infrastructure development and fund management specialists, in association with Sanlam Investments Holdings.

“CIO seeks to simplify the manner in which capital is deployed and reduces complexity by delivering an innovative “whole-of-life” solution that provides a single financing source for each of the respective development, construction and operational phases of a project’s lifecycle,” the investors explained.

Adding: “To this end, CIO provides early-stage project development services and financing, equity financing through construction, and long-term debt once the project is operational. This approach will allow CIO to implement more projects to market, faster, delivering positive environmental and social impact sooner.”

 

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