Carbon credit advisory firm raises Rs.400 mnApril 7th, 2008 - 6:57 pm ICT by admin
Mumbai, April 7 (IANS) India’s leading carbon credit advisory firm Emergent Ventures India (EVI) Monday said it has raised Rs.400 million from Infrastructure Development Finance Company private equity (IDFC PE) fund II. According to a release issued here, EVI, which provides solutions under the United Nations Clean Development Mechanism (CDM) programme, will now pursue its expansion programme and also enhance its existing business in both south and Southeast Asia.
The company said EVI would now be able to provide project developers with integrated financial and technical support to complete projects in time.
The company is also seeking to leverage its leadership in the carbon credit financing space to enhance overall project returns.
EVI founder and chief executive officer Vinod Kala in the release said with IDFC private equity’s support, they would be able to rapidly scale up business and build a leading global business around the theme of sustainable solutions for the environment.
Earlier, in November 2007, IDFC PE led a consortium of reputed international investors including GIC Special Investments and CDC Group to invest $100 million in PV Technologies India Ltd., the solar cell manufacturing arm of world’s second largest manufacturer of optical storage media Moser Baer.
According to the release, IDFC PE also invested Rs.350 million in Doshion Ltd., a leading water and wastewater management company, in India, which recently announced a joint venture with one of the world’s largest water management company, Veolia Water Solutions.
Apart from these ventures, IDFC PE has also invested in natural gas pipelines through Gujarat State Petronet and Krishna Godavari Gas Network.
In the release, Satish Mandhana, managing director - Investments, IDFC PE, said the firm has been actively exploring investment opportunities in the sector of clean and renewable energy and with companies who are interested in providing green solutions for a better environment.
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