Green Ventures India, a subsidiary of a New York-based asset management company, Green Ventures International, plans to deploy over $300 million in renewable energy projects and supporting trading in carbon credits through private equity.
According to Mr Vinay Bharathwaj, Director, Green Ventures India, the company started building a carbon trading enterprise in Asia two years ago, and the India Carbon Fund is the first that it will be launching. It will partner with entrepreneurs to offer capital and technology.Carbon credits
India is a leader in number of registered projects under the Clean Development Mechanism with potential to earn carbon credits and second only to China in exploiting revenue opportunities from carbon-credits. Indian projects account for over 40 per cent of the CER (Certified Emission Reduction) related projects in the world.
Green Ventures sees India as an ideal ground for investments in projects with potential to earn carbon credits, Mr Bharathwaj said.
Green Ventures’ India fund is likely to be launched in the second quarter of the current year. The company is studying a number of projects in the renewable energy area. Investors tying up with Green Ventures will benefit from the top-tier engineering services that it has to offer at no up-front cost, Green Ventures will provide expertise in the validation process and help earn a better price for the CERs by avoiding middlemen in the carbon trading process, he said.
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