Energy transition

Plus, Swedfund puts €15m into XSML Capital’s African Rivers Fund IV | Climate Fund Managers and Microsoft’s Climate Innovation Fund back platform to supply renewables-derived grid-power to Nigerian users.

The company, which makes electrolysers for hydrogen production, is targeting rapid expansion of installations to meet a forecast sharp rise in demand for green hydrogen, as countries strive to meet net-zero targets.

The project seeks to increase agricultural output in one of Africa’s poorer countries by increasing supply of green ammonia to make fertilisers more widely available.

The fund, co-headed by the former Bank of England governor focuses on investments that can speed up the transition to a net-zero economy.

The organisation seeks to provide $1bn of guarantees to mobilise climate change-related investment for borrowers in developing countries, backed by capital from various state-level investors.

The blended finance fund, which invests in green energy and infrastructure in developing countries, is focused on climate mitigation and adaptation, social development, economic infrastructure and gender equality investment.

The EU-backed funding is part of €4.2bn in debt financing announced by H2 Green Steel for its large-scale green steel plant in Sweden, on top of equity investments of €300m and a €250 million grant from the EU’s Innovation Fund.

If Tony Dalwood wasn’t running Gresham House, he may have become a sports coach. He told Impact Investor how a career in rugby helped him build a multi-billion business, and why investing in sustainability is a safe bet.

British International Investment has committed capital alongside other DFIs and private investors to the Clime Capital-managed fund, which raised a total $127m at first close.

The green and sustainability-linked loan from IFC will finance renewable energy projects in emerging markets, including those heavily reliant on coal, in support of a just transition to a low carbon economy.