Sustainable Energy for Development: People, organizations, and projects active in environmentally benign energy sources for developing countries.
Ken Novak's Weblog
Wednesday, October 18, 2006
European Global Energy Efficiency and Renewable Energy Fund
: "The European Commission today proposed the creation of a Global
Energy Efficiency and Renewable Energy Fund (GEEREF), which will
accelerate the transfer, development and deployment of environmentally
sound technologies. .. It will contribute to bringing
clean, secure and affordable energy supplies to the 1.6 billion people
around the world who have no access to electricity. ..
The need for risk
capital in developing countries and transition economies is estimated
at over €9 billion, far above current levels... GEEREF [will provide] new
risk-sharing and co-financing options .. Priority will be
given to deploying environmentally sound technologies with a proven
technical track record. GEEREF will stimulate the creation of regional sub-funds tailored to
regional needs and conditions, rather than investing in projects
directly. Sub-funds are envisaged for the African, Caribbean and
Pacific (ACP) region, North Africa, non-EU Eastern Europe, Latin
America and Asia. The focus will be on investments below €10 million as
these are mostly ignored by commercial investors and international
finance institutions. Corporate finance will be offered to support
small and medium-sized enterprises as well as project finance
These projects will also combat climate change and air pollution.
The Commission intends to kick-start the fund with a contribution of up
to €80 million over the next four years, and expects that financing
from other public and private sources will take funding to at least
€100 million. This means that it will contribute to the financing of
investment projects of a value up to 1 billion euro. " 8:22:14 AM
Tuesday, October 10, 2006
Foresight for UK venture capital investment funding for sustainability:
"Foresight Sustainable Development [fund] is aimed at very High Net Worth investors and their advisers looking to invest in excess of £100,000 in unquoted growth situations in sustainable markets. This will be structured as a Limited Partnership to avoid the constraints of a VCT. It will exploit opportunities in renewable energy, energy efficiency, the recycling of materials and energy security. It will invest across project finance, new technologies and service businesses.
Matt Taylor, partner at Foresight, explains: “In the clean fuels arena, many investors seem to be driving up the valuations of “blue sky” technologies. Our approach is different: we are concentrating on infrastructure projects and the exploitation of proven technologies. Sustainable development is an investment cycle for the long-term and we will invest only when the balance of risk and reward is right. This is going to be a small, tightly-focussed fund which should be fully invested over 12-18 months.” It launches in early October 06. 12:26:07 AM