Fund manager Climate Fund Managers (CFM) will invest $38.5m in the 4.8 megawatt (MW) Bronkhorstspruit Biogas Project in Gauteng, South Africa, with the aim of expanding its capacity to 9.8 MW.
Funding will be granted via its managed funds Climate Investor One and Climate Investor Two.
The project, owned by South African firm Bio2Watt Energy, intends to produce biogas from the breakdown of at least 240,000 tonnes of organic waste per year.
South Africa currently sees approximately 3.67m tonnes of waste annually not being collected and treated through formal waste collection systems, which results in illegal dumping.
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