EKI launches Rs 1,000 cr Climate Impact Fund

New Delhi, Oct 18: Carbon credit developer EKI Energy Services Ltd on Tuesday announced the launch of India’s first ever Rs 1,000 crore Climate Impact Fund in partnership with Impact Capital Asset Management Pte Ltd, Singapore.
EKI Energy Services will invest up to Rs 200 crore as part of an Rs 1,000 crore (USD 125 million) climate impact fund that it has launched in partnership with Impact Capital Asset Management Pte Ltd (ICAM), a Singapore-based Fund Management company, a company statement said.
The Rs 1,000 crore fund is India’s first ever climate impact fund, it stated.
EKI will invest up to Rs 200 crore in a phased manner in this fund with an aim to empower GHG Mitigation projects across the country and internationally.
The Fund will specifically focus on high impact community development projects such as clean cooking through large-scale deployment of energy efficient improved cook stoves, access to clean drinking water through water filtration systems and energy-saving lighting solutions like LED Bulbs and waste management amongst others, to meet its objectives of improving lives while also greening the planet.
“We, as climate warriors, want to empower this journey with focused investments in climate projects globally. We also want to strengthen our focus on community development. We promise to continue developing projects that address larger community issues while also enabling nature restoration,” Manish Dabkara, Chairman & MD, EKI in the statement.
This initiative will enhance EKI’s global reach and strengthen its network of global clientele, the statement said.
The projects would generate high quality carbon credits for its investors by delivering significant emission reductions, which the investors can use to offset their own carbon emissions subject to the local law or earn monetary benefits by selling the carbon credits in different carbon markets.
Geographically, the projects will be deployed across remote locations in India and select countries in Africa, Asia and LATAM.
“We look forward to collectively doing our bit to address the challenges of Climate Change by leveraging on our experience to accelerate investments into high impact GHG mitigation and community upliftment projects and initiatives while delivering superior and sustainable risk adjusted returns for our investors,” Deepak Mawandia, Founder & CEO – ICAM, said. (PTI)