15 February 2024

The Dutch Entrepreneurial Development Bank (FMO) has published its first evaluation of the 2015 Lab instrument Climate Investor One (CIO). Commissioned by the Dutch Ministry of Foreign Affairs, the report takes an in-depth look at the instrument five years into its 20-year implementation period.

Managed by Climate Fund Managers, CIO facilitates early-stage development, construction financing, and refinancing to fast-track renewable energy projects in Africa, Asia, and Latin America. CIO aims to mobilize an estimated USD 1 billion in investment from donors, development institutions and private investors.

Among the report’s key findings, the instrument was found to be “largely effective” when it came to providing financial solutions, demonstrating both financial and non-financial additionally.  Five years into the project, CIO remains “highly relevant” for renewable energy developers across the Global South, adapting its management approach in a rapidly evolving world. What’s more, the report determined CIO’s concept to be “rare and valued” even in an increasingly crowded renewable energy landscape.