Infrastructure-focused private equity investor IDFC PE today said it has pumped in Rs 40 crore in Emergent Ventures India, a carbon credit advisory firm.
“We have been actively exploring investment opportunities in the area of clean and renewable energy. We look forward to partnering with Emergent Ventures in delivering green solutions,” IDFC PE MD Satish Mandhana said.
The investment made by IDFC PE would be utilised to enhance Emergent Ventures' existing businesses in South and South-east Asia, IDFC PE said in a statement.
Emergent Ventures provides solutions under the UN Clean Development Mechanism programme, which range from project origination to assistance with project implementation and the monitoring or delivery of certified and voluntary emission receipts in the domestic and international carbon market.
“We are delighted to have IDFC PE as an investor. We are excited about the substantial opportunities in clean and renewable energy, where we have already established a reputation of trust and credibility with our customers,” Emergent Ventures Founder and CEO Vinod Kala said.
With IDFC PE's support, we will be able to rapidly scale up our business around the theme of sustainable solutions for the environment, Kala said.
Last year, IDFC PE invested $100 million in PV Technologies and Rs 350 million in Doshion, a water management company and Gujarat State Petronet.
Source: Economic Times