Cranmore Partners wins the IJGlobal ESG Financial Adviser Award 2023 with one judge lauding it for “pioneering work in the hydrogen space” and another for having “demonstrated commitment to new markets”.

This is the second time Cranmore has picked up this trophy, having won it in the inaugural awards. Last year – 2022 – it was won by NatWest for Europe; CIBC for the Americas; and DBS Bank in Asia Pacific.

Since its inception, Cranmore Partners has provided financial advisory services in accordance with strong commitment to ESG principles.

Cranmore’s core work in the MENA region demonstrated the firm’s ability to provide flexible, effective financial advisory and this work has extended to Sub-Saharan Africa, Western Europe and Central Asia.

According to the submission: “Despite significant macroeconomic disruptions and volatile markets, we brought the Saad IV solar PV project to FC – the first of the Covid affected Saudi REPDO deals to do so – and in doing so cleared the way for SPPC to launch its >3GW wind and solar programme in the new year.

“Cranmore continues to work closely with leading procurers and sponsors on the region on nearly all of the key renewable tenders.

“In the Central Asian market, Cranmore’s ability to craft innovating financing structures and get new lenders onboard led to a first of its kind wind IPP, as well as a series of highly solar PV projects.

“Not only will this work lead to a reduction of >3 mpta of CO2 emissions, but – more importantly – it both sets a benchmark for renewable project finance in Uzbekistan and has helped drive increased FDI activity in the region as a whole.”

The submission continues: “Cranmore iterated on its deep expertise and stellar track record in the green hydrogen sector in 2023. We continue to advise a core set of projects in Spain and in Oman and have also expanded our purview to provide a range of advisory services in new green Hydrogen markets in North Africa, Australia, and South America.

“Work in these new jurisdictions provides evidence of Cranmore’s ability to craft highly bespoke financial advisory on both buy side and sell side transactions.

“Cranmore is well placed to continue providing best-in-class advisory on green hydrogen projects through the rest of 2023 and beyond, which will aid the accelerating growth – and therefore the decarbonisation effects – of the green hydrogen industry.

“Overall, 2023 marked a year of pronounced organisational development for Cranmore – we added expertise in new markets to our team and broadened the jurisdictional scope of our advisory work.

“Cranmore continues to provide a context-driven approach to project finance, which drives the development of larger and more ambitious renewal assets.”