MAS names sustainability head; Malaysia’s EPF appoints COO and CFO; GIC PE head for SEA leaves; State Super hires new exec; Hesta appoints chief growth officer, chief Debby Blakey appointed to corporate governance board; ex-BlackRock exec joins IQ-EQ in Singapore; HSBC AM builds direct real estate team; ex-Vanguard head of distribution joins LGIM; Sanne names Singapore head; and more
EVI provides comprehensive solutions under the UN Clean Development Mechanism (CDM) program, which range from project origination to assistance with project implementation and the monitoring or delivery of certified emission receipts (CERs) and voluntary emission receipts (VERs) in the domestic and international carbon market.
IDFC PEÆs investment will be drawn on to enhance EVIÆs existing businesses in South and Southeast Asia and to build the companyÆs engineering, procurement and construction (EPC) capabilities as well as innovative financing backed by carbon credits.
As part of this expansion, EVI will provide project developers with integrated financial and technical support to complete projects in time, with the right technology and with competitive and assured cost levels. EVI will seek to leverage its leadership in the carbon credit financing space to enhance overall project returns.
Vinod Kala, EVIÆs founder and CEO, hopes to rapidly scale up the firmÆs business and build a leading global business around the theme of sustainable solutions for the environment.
This transaction reaffirms IDFCÆs commitment to environment friendly infrastructure solutions. In November 2007, IDFC led a consortium of international investors including GIC Special Investments and CDC Group plc, to invest $100 million in PV Technologies India, the solar cell manufacturing arm of Moser Baer, the worldÆs second largest manufacturer of optical storage media. IDFC also invested Rs350 million ($8.75 million) in Doshion, a leading water and waste water management company in India, which recently announced a joint venture with Veolia Water Solutions, part of the worldÆs largest water management company. IDFC has also invested in natural gas pipelines through Gujarat State Petronet and Krishna Godavari Gas Network.
EVI is one of the leading CDM advisory firms in India with 21 successfully registered projects and 33 million carbon credits under management. The company is a pioneer in the Indian carbon market and is among the few companies that provide CDM solutions across the value chain, ranging from identifying project opportunities, structuring financial solutions including project investments, turnkey solutions for development and construction of the projects, CDM registration and the verification and sale of generated carbon credits. EVI also has significant expertise in the field of renewable power generation assets.
IDFC, meanwhile, is an infrastructure focused private equity investor in India. It manages fund of Rs28.5 billion ($713 million). Its investments include GMR Infrastructure, Gujarat State Petronet, Hotel Leelaventure, Chalet Hotels, Gujarat Pipavav Port, Delhi International Airport, International Recreations Parks, L&T Infrastructure Development, HealthCare Global, Central UP Gas, Manipal Health Systems, Ashoka Buildcon, Manipal Universal Learning, Krishna Godavari Gas Network, Delhi Assam Roadways, Quipo Infrastructure Equipment, Sical Logistics, PV Technologies, Doshion and Goodearth Maritime.
Investors still favour private equity assets for their higher growth, better governance structures, and diversification potential.
The recent focus on greenwashing has put bond issues under greater scrutiny. However, some market participants believe this risks paralysis by analysis.
The AU$85 billion ($61.6 billion) Australian super fund has some exposure to indebted property developer Evergrande. Meanwhile, China’s construction finance is part of its core strategy in real estate.
Investors are seeing the risks, but also the opportunities of the logistics sector. Warehousing their fears for the moment, they can see it's a good conduit to high-growth assets.