Transaction Summary
Climate Fund Managers B.V. (CFM) has committed $3.1 million in development funding through its EU-supported Climate Investor Two (CI2) Fund to co-develop a 30MW municipal waste-to-energy project in Freetown, Sierra Leone, in partnership with Infinitum Energy Group, a project developer operating primarily in Sierra Leone and Uganda. The funding will be directed to Infinitum Energy Group (SL) Waste to Energy Ltd, the subsidiary established for the project. CI2, established in 2019, reached its third close on November 2, 2023, with commitments totalling $875 million and is targeting a final close of $1 billion by March 2025. The project will convert approximately 365,000 tonnes of municipal waste annually into electricity. The power will be sold under a 25-year Power Purchase Agreement with Sierra Leone's Electricity Distribution and Supply Authority (EDSA), which is currently being finalised. The development funding will support waste studies, permitting, and early-stage works to accelerate financial close for
