Private equity firm JCM Capital has launched a $150 million solar support fund targeting emerging solar markets in Latin America and parts of Africa.
The Canadian-based solar financing firm will steer capital towards those markets that already possess suitable regulatory frameworks and robust but under-supported electricity demand.
The Clean Power Infrastructure Fund VI builds upon the Fund V, which was instrumental in developing utility-scale PV projects in Mexico, Ecuador, Cameroon and Malawi. Early movement for the fund includes a $15 million lead investor, with a first-close target of $50 million by the end of 2014.
JCMs chief role in emerging PV markets has been to make green-field solar projects a reality, working with local project development teams to ensure completion and leveraging its financial, operational, development, legal and regulatory experience to see each project through to completion. JCM has developed 70 such solar projects in the Americas and Africa over the past five years.
"This fund will provide investors with an attractive value proposition: the steady cash flows of infrastructure combined with the growth of emerging markets," said JCM Capitals new Infrastructure Group MD, Tom Heintzman. "JCMs solar PV projects in Africa and Latin America will provide clean energy necessary to support the significant growth underway in these regions. In Africa alone, the African Development Bank estimates that more than $40 billion annually of new electricity generation capacity is required in order to support economic growth, and solar PV will be the fastest-growing form of generation in these markets."
Popular content
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
Share
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.