Funds
CFM’s initial focus has been on managing Climate Investor One, with a mandate to finance renewable energy projects in emerging markets.
Building on the momentum of CI1, CFM is currently fundraising for Climate Investor Two (CI2), which will focus on the sectors of water, sanitation, and oceans. CI2 reached third close of USD 875 million on 2nd November.
THE DEVELOPMENT FUND
The Development Fund (USD 50 million) funds up to 50% of the planning and development stage of a project. It offers both technical assistance and financing.
CONSTRUCTION EQUITY FUND
The Construction Equity Fund (USD 800 million) funds the construction phase of a project, financing up to 75% of the construction funding requirement through equity, thereby eliminating the traditional need for debt during construction.
REFINANCING FUND
Operating as a post-construction debt facility, the Refinancing Fund, yet to be established, will look to provide long-term senior debt to a project once it is fully operational.
CI2 offers financing for the entire lifecycle of a project to developers, from design to construction, and into operations through post-construction refinancing.
To achieve this, CI2 comprises of three funds, each targeted at a different project stage
THE DEVELOPMENT FUND
The Development Fund (USD 90 million total financing expected at final close) funds up to 50% of the planning and development stage of a project. It offers both technical assistance and financing.
CONSTRUCTION EQUITY FUND
The Construction Equity Fund (USD 1 billion total financing expected at final close) funds the construction phase of a project, financing up to 75% of the construction funding requirement through equity, thereby eliminating the traditional need for debt during construction.
REFINANCING FUND
Operating as a post-construction debt facility, the Refinancing Fund, yet to be established, will look to provide long-term senior debt to a project once it is fully operational.