[ad_1]
new york, January 21, 2024 /PRNewswire/ — Allied Climate Partners (ACP), a recently innovative philanthropic investment organization It was released on COP28today we had our first closing ceremony. Southeast Asia Clean Energy Fund II (SEACEF II). crime capital. Allied Climate Partners’ mission is to increase the number of profitable climate-related projects and businesses in emerging countries with significant environmental, economic and social impact. ACP He is a major junior equity investor in SEACEF II.
“The lack of profitable climate-related projects and businesses is a major barrier to accelerating climate change and green economic growth opportunities. Southeast Asia” said Allied Climate Partners CEO. ahmed saeed. “SEACEF II, managed by Crime Capital, will provide early-stage developers and companies with the catalytic capital they need to deliver renewable energy, energy efficiency and grid solutions across the region. The intention is to facilitate additional funding such as SEACEF II to address large project development funding gaps in emerging markets and developing countries around the world.”
mason warrick“SEACEF II is the world’s first commingled investment fund,” said the CEO and co-founder of Crime Capital. Southeast Asia Providing early-stage, high-risk funding to support promising companies that accelerate the region’s low-carbon transition. Allied Climate Partners’ commitment to the Fund will contribute essential elements to the Fund’s unique blended model, allowing it to address the specific needs of targeted projects. ”
Allied Climate Partners is proud to be a core junior equity investor in SEACEF II, providing catalytic first-loss capital to SEACEF II and working with Clime Capital to invest in other investors. We are mobilizing people to participate. ACP, other initial close investors and Clime will work together to expand SEACEF II from its initial proof of concept to a larger platform, increasing the number of investable large-scale climate projects and companies around the world. We set a common goal. Southeast Asia. ACP aims to advance the climate change and financial goals of Crime Capital and SEACEF II through the provision of initial loss funding, as well as value-added support and targeted strategic partnerships. ACP believes that a lack of risk-bearing capital is a key bottleneck for decarbonization in developing countries.
Allied Climate Partners was nurtured and developed by Three Cairns Group, a mission-driven philanthropic investment organization. mark gallogly, ACP Chairman and co-founder of Three Cairns Group (3CG), said: “We formed Allied Climate Partners to consolidate initial loss funds.”Social impact in emerging economies such as Southeast Asia. We are excited about this model of public-private philanthropic cooperation and look forward to what Clime and SEACEF II can achieve, and we hope to extend this to other fund managers and economies. ”
SEACEF II builds on Clime Capital’s first fund, SEACEF I. International Sea Change Foundation (Sea Change) is a charity focused on climate change mitigation and a core partner of ACP. Sea Change he worked closely with 3CG to establish ACP. With SEACEF I, Clime Capital has built a portfolio of 12 early-stage investments in climate-related projects and businesses and successfully facilitated significant follow-on funding from private sector investors. For example, one of SEACEF I’s early investments in Levanta renewable energy was: Acquired by Actis in August 2022.
SEACEF II will include senior equity from the private sector, development finance institutions (DFIs) and multilateral development banks (MDBs), as well as catalytic junior equity from ACPs and other stakeholders. This first termination of SEACEF II included a senior equity participation from the International Finance Corporation (IFC), a member of the World Bank Group. FMO, Dutch Entrepreneurial Development Bank. British International Investment (BII); Norfand; Swedish Fund; and Arnold Ventures. Junior equity investors include Global Energy Alliance for People and Planet (GEAPP), Australian Development Investment (ADI), Impact Assets and ACP.
ACP and its partners initially focused on $825 million Investment platform, approx. $235 million At Junior Capital, supported by philanthropy. Similar to SEACEF II, ACP expects to provide catalytic junior equity to initial investment managers. Africa, caribbean & Central Americaand India. As with SEACEF II, preference shares are expected to be provided by his MDBs, DFIs, and private sector actors. ACP believes that these managers will eventually $11 billion Fully deployed to construct profitable climate-related projects, ACP’s junior risk-oriented philanthropic capital generates a 47x capital mobilization multiplier and the total investment platform generates a 14x multiplier. By proving this model, ACP aims to induce commercially-minded public and private sector investors to provide capital where they are unlikely to do otherwise.
A key part of ACP’s strategy is to leverage philanthropic capital to accelerate the flow of third-party capital to climate-related projects in emerging countries.in COP28, ACP has entered into strategic partnerships with a number of major MDBs and DFIs, including the International Finance Corporation (IFC), a member of the World Bank Group. U.S. International Development Finance Corporation (DFC). British International Investment (BII), his DFI and impact investor in the UK. African Development Bank (AfDB). Proparco, a subsidiary of the French Development Agency group. FMO, Dutch Entrepreneurial Development Bank. IDB Invest is a member of the Inter-American Development Bank Group. ACP also signed a strategic partnership agreement with financial authorities. Singapore (MAS), Singapore– Global investment firm Temasek and IFC are working to increase the number of bankable climate projects. Asia.
About Allied Climate Partners:
Allied Climate Partners (ACP) is a philanthropic investment organization with a mission to accelerate climate change and improve lives in emerging countries by increasing the flow of capital to bankable climate-related projects and businesses. ACP selects regional investment managers from emerging economies with the task of addressing critical funding gaps in first loss capital, expertise and early risk-oriented stages of the development process for climate-related projects and asset-oriented businesses. support them. . Without this support, many projects and companies struggle to raise the funding they need to achieve their climate-related goals. By proving this model, ACP aims to induce commercially minded public and private sector investors to invest in areas they would not otherwise invest in.
About Crime Capital:
Crime Capital Management Pte. Co., Ltd. (Crime Capital) is Singapore– Fund management company with head office registered with financial authorities Singapore. Clime Capital is the manager of SEACEF I and SEACEF II. The Clime Capital team is comprised of senior professionals with deep experience in the Southeast Asian market in clean energy investment and development. The team brings a diverse skill set in early stage project financing and development, investment and portfolio management, project finance, design and engineering, operations, and environmental protection. Clime Capital is based in the following regions: Vietnam, India, Indonesia, Philippinesand Singapore.
About Three Cairns Group:
Three Cairns Group is a mission-driven investment and philanthropic company focused on the climate crisis. Lise Strickler and mark gallogly. Three Cairns Group cultivated and developed Allied Climate Partners. Three Cairns Group’s goal is to develop and support cross-sector initiatives to accelerate the transition to clean energy and drive transformative and equitable progress through three key strategies. Philanthropy that supports a pipeline of innovative leaders, projects, and organizations that advance just climate solutions. Incubating projects to bridge the gap at the intersection of climate, finance, and people and foster organizations that can advance climate action at scale.
About Sea Change Foundation International:
International Sea Change Foundation We are the international charity arm of the Sea Change Foundation. Sea Change Foundation and Sea Change Foundation International share a common strategy of providing philanthropy to nonprofit organizations focused on climate change mitigation and clean energy policy. Nat Simmons and Laura Baxter Simmons He is co-director of Sea Change Foundation International.
The parties cited above have not received compensation for providing the statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities or services. This press release contains forward-looking statements that may or may not be realized and are subject to uncertain events.
SOURCE Allied Climate Partners
[ad_2]
Source link
