UK Climate Investments (UKCI)

What UK Climate Investments (UKCI) does

UK Climate Investments (UKCI) is a joint venture between Green Investment Group (GIG) — itself a subsidiary of Macquarie Group, now operating within Macquarie Asset Management — and the UK Government. Established in 2015 and headquartered in Edinburgh, UKCI was created to deploy £200 million of UK international climate finance to mobilize private investment into green infrastructure in key emerging economies and developing countries, primarily sub-Saharan Africa and India.

UKCI operates as a single, focused investment vehicle rather than a multi-product platform. Its core activity is originating, structuring, and committing capital to renewable energy projects — onshore wind, solar, and run-of-river hydropower — alongside development partners and institutional co-investors. Notable portfolio investments include a partnership with H1 Holdings in South Africa that delivered 254 MW of clean energy and approximately 600 jobs, a £15 million follow-on commitment to Revego Africa Energy (the first dedicated renewable energy yieldco in sub-Saharan Africa), a co-investment into Cleanmax Solar in India, a 60 MW solar farm in Maharashtra developed by Lightsource BP, and a green affordable housing platform in Kenya. UKCI has developed bespoke structuring tools, including a Black Economic Empowerment financing instrument used in South Africa, and has brought its construction-stage renewable energy portfolio in South Africa to nearly 1 GW. As of 2022, UKCI is fully committed across seven transformational investments.

UKCI does not generate commercial revenue in a conventional sense. Its economics are tied to capital recycling within a sovereign-backed climate finance mandate: it originates and structures concessional investments that crowd-in private capital, and the entity is operated as a B2B institutional investment vehicle with no consumer-facing product, pricing, or pricing model. Deal sourcing and investor relations are conducted through GIG/Macquarie and UK Government networks.

Name

UK Climate Investments (UKCI)

Legal name

UK Climate Investments

Website

https://greeninvestmentgroup.com

Company type

Private

Founded year

2015

Operating status

Operating

Short description

UK Climate Investments (UKCI) is a joint venture between Green Investment Group and the UK Government deploying £200 million of UK international climate finance to mobilize private investment into green infrastructure in sub-Saharan Africa and India.

Ownership category

akta.pro rank

Product category

Climate Finance / Development Finance for Green Infrastructure

NAICS

Other Financial Vehicles (525990)

SIC

Investors, Nec (6799)

akta.pro primary industry

Renewable Energy & Energy Transition Funds (FSANAJAB)

akta.pro secondary industries

Climate / Clean Tech & Decarbonization Funds (FSANAJAA), Sustainable Infrastructure & Resilient Cities Funds (FSANAJAC), Climate Finance Funds & Green Investment Facilities (BPADACAH)

Keywords

• Climate finance
• Green infrastructure investment
• Development finance
• Renewable energy investment
• Emerging markets investment

Headquarters

HQ city

Edinburgh

HQ country

United Kingdom

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Others

Distribution channels1 record

Marketing channels2 records

Core offering

UK Climate Investments (UKCI) is a joint venture between Green Investment Group (GIG) and the UK Government that deploys £200 million of UK international climate finance to mobilize private investment into green infrastructure projects in key emerging economies and developing countries, particularly sub-Saharan Africa and India. UKCI makes direct and co-investments in renewable energy projects (onshore wind, solar, hydropower) and growth-stage clean energy platforms such as Revego Africa Energy and Cleanmax Solar, and is fully committed across seven transformational investments.

Product overview

UK Climate Investments (UKCI) operates as a single focused investment vehicle—a joint venture between Green Investment Group (GIG) and the UK Government—rather than a platform with multiple modules. UKCI's core offering is managing and deploying £200 million of UK international climate finance to mobilize private investment in green infrastructure projects across key emerging economies, primarily in sub-Saharan Africa and India. The investment strategy focuses on renewable energy projects including onshore wind, solar, and hydropower facilities, with investments structured through platforms like Revego Africa Energy (a renewable energy yieldco for sub-Saharan Africa) and Cleanmax Solar in India. UKCI is fully committed across seven transformational investments and continues to crowd-in institutional capital into green infrastructure in developing markets.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• 254 MW of clean energy projects completed in South Africa
• +2 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and minor.

• H1 HoldingscoreStrategic or Co-development PartnerPartnership with majority black-owned and managed renewable energy developer H1 Holdings in South Africa delivered 254 MW of clean energy projects including two onshore wind farms and a run-of-river hydropower facility, creating approximately 600 jobs.
• Lightsource BPminorStrategic or Co-development PartnerUKCI financed a 60 MW solar farm in Maharashtra, India, representing the first utility-scale project developed by Lightsource BP in India, powering equivalent of 75,000 homes.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• British International Investment (formerly CDC Group): UK Government-owned development finance institution investing across Africa and South Asia. Closest comparable to UKCI in mandate, geography, and origination sources, with overlapping climate finance programmes.
• Proparco: French DFI subsidiary of AFD focused on private-sector investment in Africa, Asia, and emerging markets, including renewable energy and climate finance. Directly comparable in geography and instrument mix to UKCI.
• FMO (Netherlands Development Finance Company): Dutch DFI investing in developing and emerging markets, with a dedicated Climate Action Fund and substantial renewable energy exposure. Comparable to UKCI in mobilising private capital into green infrastructure in emerging economies.
• DEG (Deutsche Investitions- und Entwicklungsgesellschaft): German DFI financing private-sector investment in developing countries, with a climate focus overlapping UKCI's mandate. Comparable in combining development mandate with private capital mobilisation.
• Climate Fund Managers (CFM): Joint venture between Sanlam Infra and the Dutch Fund for Climate and Development that structures blended-finance climate funds (e.g., Climate Investor One/Two). Highly comparable to UKCI's blended climate finance approach in emerging markets.

Emerging players

• responsAbility Investments: Swiss impact asset manager with dedicated climate finance funds investing in renewables and sustainable infrastructure in emerging markets. Comparable in deploying private capital into emerging-market green infrastructure, though operating at fund-manager scale rather than as a single JV vehicle.
• Convergence (blended finance platform): Global blended finance network and deal platform catalysing private capital into emerging and frontier markets, including climate. Comparable to UKCI in catalysing and structuring private-public capital for green infrastructure.

Broad incumbents

• Green Climate Fund: Multilateral climate fund under the UNFCCC mobilising public and private capital for low-emission and climate-resilient projects in developing countries. Overlaps with UKCI on mandate, blended finance, and emerging-market focus.
• International Finance Corporation (IFC): World Bank Group's private-sector arm, the largest global DFI. IFC operates a much broader mandate but its climate infrastructure and emerging-market renewables activities overlap with UKCI's focus areas.
• Climate Investment Funds (CIF): Multilateral climate finance vehicle administered through the World Bank that channels donor funds into renewable energy and climate programmes in emerging markets. Operates at much larger scale but with similar climate finance mobilisation role to UKCI.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/greeninvestmentgroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about UK Climate Investments (UKCI)