Investors led by the Dutch development bank FMO have closed a $412m fund – Climate Investor One – to invest in solar, wind and run-of-river hydro projects in Africa, Asia and Latin America.
The fund mobilises both public and private sector financing.
Other Dutch supporters include the Directorate-General for International Cooperation, Ministry of Foreign Affairs of the Netherlands, Atradius Dutch State Business, De Nederlandse Waterschapsbank and Aegon Asset Management.
Other investors are Norway’s KLP, Sanlam Investments Holdings in South Africa and the UK’s Royal Borough of Windsor & Maidenhead Pension Fund.
FMO chief executive Jurgen Rigterink said: “FMO is proud to be the initiator of this global climate fund which innovatively, through a blended finance approach, catalyses institutional investors from a broad spectrum seeking commercial, social and environmental returns into clean energy in emerging markets.”
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