The Global Environment Fund (GEF) is a private equity fund, that invests in businesses dedicated to clean technology, emerging markets, and sustainable forestry, with approximately $1 billion in aggregate capital under management. The GEF has a $300-million South Asia Energy Fund for which the US Overseas Private Investment Corporation (OPIC) had said in November last year that it would $100 million in financing.
The South Asia Energy Fund will invest in solar, wind, hydropower, advanced biofuels and natural gas projects, with focus on India.
Panchabuta had mentioned in December last year that, Japan Bank for International Cooperation (JBIC) is looking at providing equity funding to private sector projects in India instead of debt support for public sector entities. The principal Japanese overseas funding agency is also shifting its focus on the Indian market from China following political tensions with its Asian neighbour.
Earlier in February this year, Panchabuta had mentioned that the Japan Bank for International Cooperation (JBIC) that is looking at providing equity funding to private sector projects in India instead of debt support for public sector entities. The JBIC has earlier talked about intention to create a green investment fund not limited to India but mainly for India, with other partners such as the International Finance Corporation.
The Japan Bank for International Cooperation signed an agreement for equity participation in South Asia Clean Energy Fund, L.P. that will invest principally in clean energy and environmental sectors in South Asia. JBIC will contribute 20 million US dollars to the Fund.
The Fund is a private equity fund investing principally in established applied technology companies which provide products and/or services in the energy and environmental sectors in South Asia. This is the first equity investment made by JBIC in its GREEN operation