$100-m fund for Indian renewable projects from Carbon Credit Capital

Posted on April 12, 2011 by

2011 is likely to see the launch of a $100-million India-specific fund from the US-based Carbon Credit Capital. Ms Olivia Fussell, President, Carbon Credit Capital said “We would start with $100 million this year and will eventually increase it to $500 million,”. Carbon Credit Capital is a specialist carbon financing firm. Through this fund, it will invest in a renewable energy projects across technologies such as solar and biomass among others.

The company is in talks with the US-based private individual investors for raising the fund. The company disclosed that it may complement the private investment with multilateral fund, possibly including the International Finance Corporation.

Carbon Credit Capital is a privately held firm in the US. In India, it works on the CDM framework with its clients. It also buys carbon credits from the Indian firms on behalf of its clients in the European Union.

Reinforcing India’s strong (second) position in the carbon credit market is the new capacity addition in the renewable energy sector. This capacity addition is expected to scale up the issuance of carbon credits to 246 million units per annum by 2012 from 72 million per annum in 2009, according to CRISIL Research.

Source: http://www.thehindubusinessline.com/industry-and-economy/article1688969.ece

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