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The IDFC PE-managed fund named the IDFC Private Equity Fund II, has recently informed that it has made an investment of Rs 40 crore in a carbon credit advisory company, named the Emergent Ventures India (EVI). The officials of the company have informed that the EVI usually provides comprehensive solutions under the UN Clean Development Mechanism (CDM) program that ranges from the project origination to assistance.
While talking about the program further, one of the sources related to the development has informed that the program also includes the project implementation and the monitoring/delivery of certified emission receipts (CERs) and voluntary emission receipts (VERs) in the domestic and international carbon market. The source said that the investment from IDFC PE is going to be drawn on to enhance the existing businesses of EVI in the South and Southeast Asia. The investment would also be used for building the engineering, procurement and construction (EPC) capabilities of the company, apart from the innovative financing, that is backed by carbon credits.
The source also said that the EVI will further provide project developers with the integrated financial and technical support for completing projects in time, as part of this expansion. The company would provide the support with the right technology and also with competitive and assured cost levels. The source further informed that EVI will seek to leverage its leadership in the carbon credit financing space for enhancing the overall project returns, as well.
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| Posted : 4/8/2008 |
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