Climate Fund Managers (CFM), has closed a US $675M financing round for several projects in the water, sanitation, biodiversity and energy sectors that have a positive environmental and social impact.
This is the first closing of its US $1 billion Climate Investor Two (CI2) fund. Building on CI1’s focus and expertise in renewable energy, CI2 brings expertise, technology, and financing to projects that help vulnerable societies mitigate and adapt to the effects of climate change.
“In addition to renewable energy, projects related to water, sanitation, sustainable land use, oceans and sustainable cities will benefit from this new initiative, which will eventually have a portfolio of $1 billion,” CFM said.
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Scope of work
Through its CI2 fund, CFM is also supporting the development of a giant kelp farm on the Namibian coast near the port city of Lüderitz. The goal is to absorb CO2 released into nature more quickly, restoring the health of marine ecosystems through commercially viable solutions and improving fish reproduction. The kelp farm will also limit ocean acidification and deoxidation.
In total, this project for the conservation and sustainable use of the oceans, seas and marine resources in Namibia will cost 60 million also from the Namibia Infrastructure Development and Investment Fund (NIDIF), managed by Eos Capital, a Namibian private equity fund manager.
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