{"id":89632,"date":"2025-04-18T00:00:00","date_gmt":"2025-04-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2025\/04\/18\/usd-150-mn-for-africa-decarbonisation-fund-i\/"},"modified":"2025-04-18T00:00:00","modified_gmt":"2025-04-18T00:00:00","slug":"usd-150-mn-for-africa-decarbonisation-fund-i","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2025\/04\/18\/usd-150-mn-for-africa-decarbonisation-fund-i\/","title":{"rendered":"USD 150 mn for Africa Decarbonisation Fund I"},"content":{"rendered":"

Scalar<\/strong> International and Mergence Investment Managers are looking to raise up to <\/strong>USD 150 mn for the Africa Decarbonisation Fund I<\/strong>, Bloomberg<\/a> reported on Monday. The fund aims to back energy efficiency and renewables upgrades in 30k buildings across southern African nations and will invest in companies providing infrastructure for power generation, energy storage, EV charging stations, and smart-grid systems. Around 30% of the fund\u2019s capital will target projects in South Africa.<\/p>\n

Mostly European money:<\/strong> Roughly 80% of the fund\u2019s capital will be sourced from global climate funds and European finance institutions, with the remainder coming from African players. Scalar and Mergence are in \u201cadvanced negotiations\u201d with the EU-Africa Global Gateway Investment Package<\/a> \u2014 the European Union\u2019s EUR 150 bn initiative to spur investments in Africa. <\/p>\n

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Trump<\/strong> spares solar cell imports from tariffs:<\/strong> The US has exempted solar cells, semiconductors, and other electronic components from reciprocal tariffs, CNBC<\/a> reported last week, citing a US\u2019 Customs and Border Protection statement<\/a>. The 20 exempted products are spared from both the 125% tariff on Chinese goods and the 10% baseline tariff on tech imports from other states, yet a separate 20% blanket tariff on all Chinese imports remains in place. The White House said<\/a> the move is intended to give companies time to shift production to the US.<\/p>\n

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Cambridge <\/strong>University<\/strong> + UNJSPF back climate-focused bond index:<\/strong> Cambridge University and the UN Joint Staff Pension Fund (UNJSPF) are reallocating up to USD 750 mn into a new bond index that excludes companies that are expanding fossil fuel production, Reuters<\/a> reported last week. Cambridge will invest up to GBP 200 mn (c.USD 261 mn), while the UNJSPF will contribute up to USD 500 mn. The Index is expected later this year. The Bloomberg Cambridge University Fixed Income Index \u2014 developed with input from CalSTRS, the UK\u2019s Universities Superannuation Scheme, and Switzerland\u2019s PUBLICA \u2014 filters out both firms increasing oil and gas output and financial institutions that continue to lend them. <\/p>\n

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n