Climate Fund Managers (CFM) has announced the first close of the SA-H2 fund with commitments of approximately ZAR 3 billion in South Africa. The fund will invest in large-scale energy-transition projects across the green hydrogen value chain, including green hydrogen, green ammonia, green methanol and industrial decarbonisation. The fund comprises a development tranche alongside blended equity tranches. The fund is expected to reach a final size of ZAR 12 billion by mid-2028.
Furthermore, the development tranche is backed by Invest International, the European Commission’s Global Gateway strategy and South Africa’s Industrial Development Corporation while the equity tranche commitments have been secured from PIC on behalf of GEPF, Sanlam Life, Invest International and the European Commission, with support from the Development Bank of Southern Africa. The fund has also signed development funding agreements for the Green Efuels Producers wastewater-to-green-methanol project and the Hive Hydrogen Coega green ammonia project.
In February 2026, CFM and Erco Energía agreed to sell their respective interests in the Pétalo del Norte de Santander I solar plant located in Colombia to Organización Terpel S.A. The project has an installed capacity of 26.4 MWp and generates more than 45 GWh of clean electricity annually, supplying power to approximately 32,600 people. The project is also estimated to avoid around 13,276 tonnes of carbon emissions annually.