In New York, ESG News reported that Climate Fund Managers has reached the first close of its SA-H2 Fund with approximately $182 million in commitments. The fund will invest across Southern Africa’s emerging green hydrogen economy.
Also known as Climate Investor Three South Africa, SA-H2 targets large-scale energy transition projects. Its mandate covers green hydrogen production and downstream products such as green ammonia and green methanol. It will also finance projects designed to cut emissions from hard-to-abate industries, according to the report.
The first close brings together capital from European development institutions, South African pension assets and domestic financial institutions.
Andrew Johnstone, CEO of Climate Fund Managers, said: “As the energy transition progresses, industrial decarbonisation requires solutions beyond electrification, and green hydrogen has a critical role to play. With Climate Investor Three, we are developing and scaling projects that enable industrial users to transition to low-carbon alternatives. This first close reflects confidence in Climate Fund Managers’ blended finance model and our track record of developing and scaling infrastructure projects in emerging markets into institutional-grade assets.”
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