The Department of State, in partnership with USAID, and the Ministry of Foreign Affairs of Denmark, announced the two winners of the Blended Finance for the Energy Transition (BFET) competitive award process. With catalytic grant funding from the BFET program, the winning investment managers are expected to mobilize a total of over $1.4 billion of capital to advance emerging markets' energy transition efforts and help limit global average temperature rise to 1.5°C.
BFET's two award winners, responsAbility Investments AG and Eversource Capital, are launching innovative financial vehicles that will accelerate the just energy transition in South and Southeast Asia.
The catalytic grant funding from the BFET program will help better align investment opportunities with the needs of institutional investors and other capital providers, unlocking new, deep pockets of capital for the energy transition. BFET catalytic funding will be complemented by other sources, for example, from Germany and the Netherlands , in the case of responsAbility's new fund.
