FMO raises $412 million for developing renewable energy capacity

The Netherlands Development Finance Company (FMO) has raised $412 million for developing renewable energy capacity in Africa, Asia and Latin America. The $412 million fund, Climate Investor One (CIO), has been set up to support renewable energy projects such as solar, wind and run-of-the-river hydropower projects in emerging markets. The fund uses private sector financing as well as public sector donor funding. Among its supporters in the Netherlands are the Directorate General for International Cooperation, the Ministry of Foreign Affairs of the Netherlands and Nederlandse Waterschapsbank NV. Some of its global investors are KLP Norway, Sanlam Investments Holdings in South Africa and the UK’s Royal Borough of Windsor & Maidenhead Pension Fund.

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