Climate Fund Managers to invest in third Colombia project

[IMPORTANT: Make this 4 times longer with much more detail]

Get the news on sustainable finance & investment in Latin America Email * Company * Δ NEWSLETTER DELIVERED MONTHLY THANKS TO KEEP READING: FLASH SALE THIS WEEK ONLY 50% off with the code FLASH50 European Union-backed investment firm Climate Fund Managers plans to provide $42 million in equity financing for the construction of a solar plant in Colombia, representing its third renewables investment in the country, said Juan Páez, head of the firm’s Latin American division. “It will be a 40 MWac facility with a battery component close to 20MWh, which will be the biggest battery infrastructure invested in the Colombian market,” he told LatinFinance in an interview. Dutch-based CFM will initially provide $2 million for the development phase of project and an additional $40 million for construction, which is scheduled to start in May, according to Páez. The project is being developed by Colombian power producer Erco Energía. The firm said earlier this month that it raised $19.2 million for a separate Erco Energía solar plant, providing $1 million of its own resources and mobilizing $18.2 million in equity funding. It also raised $66 million for a 21.1MW hydroelectric plant in Antioquia department. ADVERTISEMENT IDB Invest – Artificial Intelligence for Timely Diagnosis of Tropical Diseases Climate change accelerates the transmission of infections. Technology can help win this race against time, save costs, and save lives, especially in Amazonia and other vulnerable areas. CFM, which operates two EU-supported, billion-dollar emerging market funds, recently opened an office in Bogotá that will serve as its base for Latin America. In the interview, Páez said it is also exploring potential ESG projects in Mexico and Brazil. “We are looking at investment opportunities with a lot of seriousness now in Mexico, primarily as it pertains to our second fund,” he said. “We see a government that is clearly aligned with our water initiatives, and we see President [Claudia] Sheinbaum continuing that alignment in terms of their national priorities and we expect these priorities will remain,” he added. More Sustainable Finance & Investment News FREE TO READ THANKS TO GDPar to price second Brazil bond Aguas Andinas returns to Chile market with ESG bond CABEI plans sterling bond debut CCR secures renewables supply Nafin to sell more social bonds GeoPark, ATP Towers, Ambipar print global bonds IFC supports BV solar financing Ambipar, Interbank, Buenaventura line up fresh issuance BRK lands financing for Maranhão expansion Banco W prints second social bond Gerdau snaps up hydro power plants Finanzauto taps Bladex for ESG loan Load more posts Something went wrong. Please refresh the page and/or try again.