Climate Investment Fund Grant

About this grant

The Climate Investment Fund is Norway's key instrument for accelerating the global energy transition, managed by Norfund on behalf of the Ministry of Foreign Affairs. The fund aims to maximize avoided emissions in emerging markets with large emissions from coal and other fossil power production by investing in renewable energy, storage, and transmission technologies. With an annual state allocation of one billion NOK matched by an additional billion NOK from Norfund's own capital, the fund targets 9 GW of new renewable energy capacity and 14 million tons of CO2 avoided per year by 2026. While Norfund continues to invest in renewable energy under its development mandate to create jobs and reduce poverty, the climate mandate specifically focuses on maximizing avoided emissions and supporting economic growth built on low carbon technologies in emerging markets.

Eligibility

The Climate Investment Fund prioritizes 16 core countries: India, Vietnam, Philippines, Cambodia, Indonesia, Sri Lanka, Bangladesh, South Africa, Egypt, Tunisia, Morocco, Thailand, Malaysia, Kazakhstan, Uzbekistan, and Mongolia. Investments are typically made in both large-scale renewable energy projects such as solar and wind farms and smaller commercial and industrial opportunities such as rooftop solar installations. The fund may also invest in enabling technologies with significant climate impact, including storage and transmission. Norfund primarily invests in equity with a 20-35% ownership interest, with individual investments typically ranging from $25-150 million.

How it's scored

Investment decisions are governed by sectors where Norfund has strong expertise, can provide added value, and where viable investment opportunities exist in target markets. The Climate Investment Fund may take a somewhat higher technology commercialization risk than Norfund's development mandate to help accelerate the implementation of clean energy technologies through investments that private investors hesitate to undertake alone. The fund's investments and portfolio are managed separately from Norfund's other activities.

Key requirements

• ✓Climate solution focus on solar and renewable energy deployment
• ✓Operations or impact in developing countries
• ✓Fund-based investment structure (equity or project finance)
• ✓Demonstrated pathway to commercial viability and scale

Recent past awardees

Knowing who's won the last rounds tells you whether you're in the strike zone.

• CrossBoundary Energy · 2025 · $80M
• South African renewable energy actor (Battery project) · 2025
• South African energy platform · 2025
• KLP (joint investment in India power grid) · 2024
• Indonesia renewable energy project · 2024
• SAEL · 2023

Funder contact

The notice names a programme contact you can speak to before applying.

Frequently asked questions

How much funding does Norfund offer?

Climate Investment Fund offers $25M – $150M.

Who can apply for Climate Investment Fund?

Eligibility covers organisations in GLOBAL-SOUTH, AFRICA, ASIA, LATAM; startup, sme, large-company, social-enterprise. See the eligibility criteria above for the full conditions.

Relevant sectors

About this sector

Renewable energy funding covers solar, wind, hydropower, geothermal and bioenergy, from early research to grid-scale deployment. Public money tends to back demonstration, grid connection and access to energy in emerging markets, while procurement notices buy installation, operation and maintenance. Calls often ask for proof of resource assessment, permitting progress and local partners.