During the Making Solar Bankable conference of 18-19 February 2016 in Amsterdam, Climate Investor One witnessed the signing of its first term sheet – a significant operational milestone in what has already been an exciting start to 2016 for Climate Fund Managers, the fund manager of Climate Investor One.
The deal signed by Hugues-Antoine Guinoiseau of French developers Compagnie Des Energies Nouvelles (CDEN) (middle) was observed by Ronald Goldberg of the Dutch Ministry for Foreign Trade and Development Cooperation (left) and is set to provide a Solar PV – Pumped Storage Hydro (PSH) facility in Rwanda. The project which is due to begin construction in the first quarter of 2017 will be developed in two stages. Stage 1 will see the construction of a 15MW Solar PV + 2 MW PSH facility, which will then be expanded to 45 MW PV + 6 MW PSH approximately 24 months after Stage 1 COD.
Climate Fund Managers CEO Andrew Johnstone (right) was elated with the development and stated, “We are very pleased with this partnership with CDEN, and the signing of the deal in Rwanda reflects Climate Investor One’s status of being open for business”.
Climate Investor One will continue to help fast-track renewable energy projects in emerging markets, mobilizing an estimated USD two billion for climate finance, and reducing an annual 1.5 million tCO2 globally.