Weekly renewables M&A round-up (May 23-27)
May 27, 2022 17:26 CESTJanuary 22 (Renewables Now) - A group of private firms, charities and national government has committed to raising at least USD 500 million (EUR 451m) for a new fund that will target climate-related infrastructure investments in emerging markets.
The Climate Finance Partnership (CFP) is backed by BlackRock Inc (NYSE:BLK), the Hewlett and Grantham charitable foundations and the governments of France and Germany. The fund’s goal will be to invest in grid-connected projects in the renewables field, energy efficiency, energy storage solutions and ultra-low and electric transport, BlackRock said on Wednesday.
The investment vehicle will feature a first-loss tranche of at least USD 100 million that BlackRock will use to mobilise a goal for a minimum of USD 400 million in institutional capital commitments. France and Germany will both provide USD 30 million of the initial funding, while the William and Flora Hewlett Foundation and the Jeremy and Hannelore Grantham Environmental Trust have committed to invest USD 10 million and USD 7.5 million, respectively. The CFP members have pledged to help raise the additional seed capital for the fund to reach USD 100 million.
At least 25% of the total investments will be made in Africa, with the rest to go for projects in selected countries in Southeast Asia, Africa and Latin America.
(USD 1.0 = EUR 0.902)
Weekly renewables M&A round-up (May 23-27)
May 27, 2022 17:26 CESTDuke Energy equips Hawaii university with solar and storage
May 27, 2022 17:17 CESTUS stays atop EY renewables attractiveness index, Spain heads PPA chart
May 27, 2022 16:32 CESTSavannah Energy to develop up to 500 MW of renewables in Chad
May 27, 2022 16:08 CESTCelsia building 260 MW of solar farms in Colombia
May 27, 2022 15:51 CESTAgrana, RWA equip Austrian fruit juice concentrate plant with solar modules
May 27, 2022 15:36 CEST