{"id":555144,"date":"2021-11-03T04:00:12","date_gmt":"2021-11-03T04:00:12","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/egypt-is-up-for-a-slice-of-blackrocks-new-climate-focused-em-infrastructure-fund\/"},"modified":"2021-11-03T04:00:12","modified_gmt":"2021-11-03T04:00:12","slug":"egypt-is-up-for-a-slice-of-blackrocks-new-climate-focused-em-infrastructure-fund","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/egypt-is-up-for-a-slice-of-blackrocks-new-climate-focused-em-infrastructure-fund\/","title":{"rendered":"Egypt is up for a slice of BlackRock\u2019s new climate-focused EM infrastructure fund"},"content":{"rendered":"

<\/a> Egypt is among the \u201cattractive\u201d emerging markets in which BlackRock could be investing <\/strong>through its new USD 673 mn climate-focused infrastructure fund<\/strong>, BlackRock Alternative Investments\u2019 global head of renewable powers David Giordano tells Reuters<\/a>. The new Climate Finance Partnership fund \u2014 backed by the French, German, and Japanese governments \u2014 will invest in renewable energy and other climate-focused projects across emerging markets.<\/p>\n

Who\u2019s in, how much will it invest per transaction:<\/strong> The fund\u2019s average equity investment \u2014 or \u201cticket size\u201d to the cognoscenti \u2014 will likely be in the USD 25-75 mn range, according to Giordano. The 22 LPs include TotalEnergies, Axa and Dai-Ichi Life. Their commitments saw the fund close well ahead of its USD 500 mn fundraising target. The fund is designed to \u201cshow how to mobilize private capital in developing countries to tackle climate change,\u201d which are among those most affected by the impacts of climate change, the newswire says.<\/p>\n

Egypt\u2019s green push is what got us noticed<\/strong>, with Giordano telling the newswire that Egypt, Kenya, Morocco, Peru, and Vietnam are showing commitment to the clean energy transition. Egypt \u2014 which was recently ranked by E&Y (pdf)<\/a> as one of the top 20 countries in the world for renewable energy attractiveness \u2014 recently set a goal<\/a> of generating 42% of the country\u2019s electricity from renewable sources by 2035. By as soon as next year, authorities are intending to authorize 2.4 GW worth of renewable energy projects<\/a> that would cost a combined USD 1.5 bn. Several projects will also be funded through our maiden USD 750 bn green bond issuance<\/a>, which made Egypt the first country in the region to sell climate-related debt.<\/p>\n

The announcement of the fund coincided with the COP26 summit<\/strong>, where representatives of more than 100 countries are meeting to find consensus on how to reach net-zero emissions over the coming decades. Developing nations, including President Abdel Fattah El Sisi, are calling on wealthy nations<\/a> to follow up on their pledge to provide USD 100 bn a year in funding to help developing countries tackle climate change.<\/p>\n

The UK has also announced a green investment fund for emerging markets:<\/strong> The UK will invest more than USD 3 bn in green infrastructure projects and technologies in emerging markets over the coming five years, British PM Boris Johnson announced<\/a> at the conference. This is double the amount invested by the UK\u2019s development finance arm CDC between 2017 and 2021. The 'Clean Green Initiative' will include USD 200 mn for a new facility that will see CDC work with private sector investors in developing countries to upscale technologies to combat the effects of climate change and mitigate environmental damage.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt is among the \u201cattractive\u201d emerging markets in which BlackRock could be investing through its new USD 673 mn climate-focused infrastructure fund, BlackRock Alternative Investments\u2019 global head of renewable powers David Giordano tells Reuters. The new Climate Finance Partnership fund \u2014 backed by the French, German, and Japanese governments \u2014 will invest in renewable energy […]<\/p>\n","protected":false},"author":1,"featured_media":555145,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[1077,147,115,93,72,125,150],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-555144","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-blackrock","tag-climate-change","tag-emerging-markets","tag-energy","tag-enterpriseam","tag-investment-watch","tag-renewable-energy","wpautop","entry"],"acf":{"mongo_id":"0e36ce95-56ba-4e40-b891-915cf0c78a3c","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/11\/303.jpg","photo_position":"above","related_issue":[555138],"teaser":"","voice_url":""},"yoast_head":"\nEgypt is up for a slice of BlackRock\u2019s new climate-focused EM infrastructure fund - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/egypt-is-up-for-a-slice-of-blackrocks-new-climate-focused-em-infrastructure-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt is up for a slice of BlackRock\u2019s new climate-focused EM infrastructure fund\" \/>\n<meta property=\"og:description\" content=\"Egypt is among the \u201cattractive\u201d emerging markets in which BlackRock could be investing through its new USD 673 mn climate-focused infrastructure fund, BlackRock Alternative Investments\u2019 global head of renewable powers David Giordano tells Reuters. 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Under a political declaration (pdf) with Egypt announced during President Joe Biden\u2019s visit to COP27 on Thursday, the US and Germany\u2026","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/187.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":554729,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/08\/fresh-funding-comes-out-of-cop26-adam-smith-but-make-it-green-millennial-mnaires-are-going-diy-on-their-wealth\/","url_meta":{"origin":555144,"position":1},"title":"Fresh funding comes out of COP26 + Adam Smith, but make it green + Millennial mn\u2019aires are going DIY on their wealth","author":"enterpriseam admin","date":"8 November 2021","format":false,"excerpt":"The second week of COP26 is kicking off with fresh funding pledges \u2014 but no tangible progress on containing warming: Global leaders are still working on ironing out an agreement that will help keep annual global warming at the 1.5\u00b0C threshold, with executives at the COP26 summit saying they are\u2026","rel":"","context":"In "FOR YOUR COMMUTE"","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/76.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577236,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/15\/this-morning-four-days-to-find-an-agreement\/","url_meta":{"origin":555144,"position":2},"title":"THIS MORNING: Four days to find an agreement","author":"enterpriseam admin","date":"15 November 2022","format":false,"excerpt":"Good morning, friends, and happy hump day. There are just four days left of COP27 and it\u2019s looking tense in Sharm as negotiators look for a way to reach an agreement that will cut emissions and mobilize tons of capital for climate finance. COP27 President Sameh Shoukry reiterated yesterday his\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":549242,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/endure-capital-reaches-first-close-on-fund-uaes-tabby-lands-in-egypt-and-egyptian-ish-crypto-unicorn\/","url_meta":{"origin":555144,"position":3},"title":"Endure Capital reaches first close on fund + UAE\u2019s Tabby lands in Egypt \u2014 and Egyptian-ish crypto unicorn","author":"enterpriseam admin","date":"8 September 2022","format":false,"excerpt":"Endure Capital has hit first close on its USD 50 mn Endure 21 fund, raising an eight-figure sum, partner Mohamed Noweir (LinkedIn) told us. The fund, which will focus on early-stage startups across Africa, plans to reach second close before the end of the year and then a third close\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/166.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562234,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/17\/actis-to-double-energy-investments-in-egypt-africa-in-5-years\/","url_meta":{"origin":555144,"position":4},"title":"Actis to double energy investments in Egypt, Africa in 5 years","author":"enterpriseam admin","date":"17 May 2021","format":false,"excerpt":"Emerging markets private equity giant Actis aims to double its energy investments in Egypt and other African countries to USD 2 bn within five years, Lisa Pinsley, head of Africa energy infrastructure at the company, told Bloomberg. Actis hopes to sign agreements for six energy projects on the continent this\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/118.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564820,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/01\/the-asset-managers-climate-change-naughty-list\/","url_meta":{"origin":555144,"position":5},"title":"The asset managers climate change naughty list","author":"enterpriseam admin","date":"1 March 2021","format":false,"excerpt":"Vanguard, BlackRock called out for not committing to ESG principles: Some 30 top asset managers are holding a combined USD 512 bn in coal assets, according to the FT, citing a report done by 29 NGOs including Urgewald (an NGO focused on the environment and human rights) that tracks asset\u2026","rel":"","context":"In "Green economy"","block_context":{"text":"Green economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/green-economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/392.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555144","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=555144"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555144\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/555138"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/555145"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=555144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=555144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=555144"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=555144"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=555144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}