The Japan Bank for International Cooperation (JBIC) is looking at providing equity funding to private sector projects in India instead of debt support for public sector entities. The principal Japanese overseas funding agency is also shifting its focus on the Indian market from China following political tensions with its Asian neighbour.
Spark’s Network learned that JBIC also plans to create a green investment fund not limited to India but mainly for India, with other partners such as the International Finance Corporation, the World Bank’s private lending arm.
The fund will mainly target India and South East Asia. It will start with a corpus of roughly $200-300 million. Renewable energy will be part of it but it will not be restricted to renewable.
Spark’s Network assumes that In 2011-12, JBIC may plan to increase the equity investment portion to $2 billion from $200 million.
As part of its strategy for India, JBIC wanted to promote export of clean technology and energy-efficient infrastructure. It has already committed to exporting technology to DMIC and creating an eco-city, a new concept of urban development under which green technology and energy management devices are installed through smart grids and smart housing.
No comments:
Post a Comment