The Asia Clean Energy Fund is scheduled to launch in the third quarter with a target first soft close in the second quarter of 2011, First Climate said.
The new fund is part of the firm's drive to invest equity in projects, focusing on investment returns rather than just securing the carbon credits generated by those projects, it said.
The company will follow the fund's close with similar funds for other emerging markets, it added.
"Renewable energy is the new infrastructure asset and Asia offers significant opportunities for investors," said Sudhir Bhat, director of project finance at First Climate.
"There is no option of parachuting into this market. Local presence, knowledge, and relationship building is critical for any successful investment in Asia."
Source: http://in.reuters.com/article/idINLDE64Q1MJ20100527
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First Climate in Reuters (India): First Climate to launch 200 m EUR clean energy fund
Carbon asset management firm First Climate plans to launch a 200 million euro ($245.6 million) equity fund to invest in clean energy projects in India, China and Southeast Asia, the firm said on Thursday.
Cologne, Germany, May 27, 2010
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