Climate Finance Partnership
In order to direct global financial flows towards climate-resilient development, it is essential to redirect private financial flows in particular to climate-friendly investments. However, the private sector has so far been confronted with major barriers such as high risks and underdeveloped financial markets in the area of climate-friendly investments in particular in emerging and developing countries. The Climate Finance Partnership Fund (CFP) reduces these barriers and promotes investments in renewable energies in developing and emerging countries. The concept of the CFP was developed at the One Planet Summit hosted by France in September 2018 and is a joint project between Germany and France as well as several foundations and BlackRock. The BlackRock network of institutional investors is intended to achieve an above-average level of mobilization leverage for private climate finance of 1: 4, with a total fund capital of around 500 million US dollars.
- IKI funding
- 24,491,182.82 €
- Duration
- 01/2021 till 12/2033
- Status
- open
- Implementing organisation
- KfW Entwicklungsbank
- Implementing Partner
-
- BlackRock
State of implementation/results
- Through its global consortium of 22 investors, the CFP achieved a final fundraise of 673 million US dollars. The structure of the fund allows for a significant mobilization effect for private climate finance: a total of 131 million US dollars from the Governments of Germany, France, and Japan, the Grantham Environmental Trust, the Quadrivium Foundation, another private foundation and a multi-energy company mobilized fund deposits totaling 542 million US dollars from private and institutional investors.
- As of the end of the second quarter 2025, CFP has made five investments in a diversified portfolio of wind and solar power across Africa, Southeast Asia and Latin America. These investments account for approximately 53% of the fund's capital commitments, among them the following:
- In the first quarter of 2023, CFP signed an agreement to acquire a 31.25% stake in the Lake Turkana Wind Project (LTWP) in Kenya, making CFP the second-largest shareholder in LTWP. The project is considered a key infrastructure initiative for Kenya, as it supplies around 12% of the country's electricity and benefits from excellent local wind resources. Additionally, through its NGO, Winds of Change, LTWP implemented a medical camp in Loiyangalani, progressed in the construction of classrooms at Serichoi and Soito Nonyokuo primary schools, and initiated a HPV vaccination program in partnership with Health Yetu.
- In April 2023, CFP concluded a partnership agreement with CleanTech Global Renewables Inc., a Philippine developer of renewable energy, for the development and construction of up to 1 GW of solar projects. The investment is structured in two parts: a facility to support land payments, works, and permitting in the development phase; and rights to acquire ownership in projects as they become construction-ready. The most advanced projects are currently expected to reach Notice to Proceed (“NTP”) by the end of 2025 and into 2026.
- Furthermore, in August 2023, CFP signed an agreement with Chow Energy Company Limited ("Chow Energy"), a Thai operator and developer of renewable energy. CFP is helping Chow to develop and build industrial and commercial solar projects with a total capacity of 1 GW. Chow Energy currently operates around 95 MW, with a further 30 MW in the construction and approval phase. Its operational capacity includes commercial and industrial projects such as hospitals, schools, and factories.
- In October 2023, CFP acquired a 46% equity stake in Brasol Participações e Empreendimentos S.A. ("Brasol"), a leading platform for the development of solar and transitional infrastructure. The investment has been used to finance the platform’s growth. Brasol’s portfolio now consists of around 190 MW of solar in operation and another around 100 MW under active construction. Additionally, Brasol brought its first 7 MVA substation into operation, with another 25 MVA substation under construction. The company continues to explore offering battery storage as a product. In 2025, Brasol successfully launched and closed its first Fundo de Investimento Imobiliário (“FII”), a fund designed to raise local third-party capital for its projects and serve as a long-term capital solution.
- In December 2023, CFP acquired a 41.5% stake in Ditrolic Energy Holdings Sdn. Bhd. ("Ditrolic Energy"), forming a partnership with the Malaysian renewable energy platform to realize its 1 GW+ pipeline of solar projects across Malaysia, Bangladesh, Indonesia, and the Philippines. CFP has deployed an initial tranche to finance construction activities. The company aims to promote the construction of solar power plants in emerging countries in the Asia-Pacific region. Ditrolic’s portfolio now includes around 60 MW of operational solar, around 15 MW under construction, and another around 215 MW approved for development.
- Additionally, the CFP established a comprehensive Environmental and Social Management System manual which defines the approach to assessing and managing environmental and social risks associated with its investments. In addition, the CFP set up a collaborative forum, named the Climate Impact Committee, focusing on environmental and social impacts and measurement approaches of its investments alongside its investors.
Latest Update:
12/2025
Project relations
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