Sustainable Development Capital to raise $500m for Asia cleantech
Sustainable Development Capital (SDCL), a London- headquartered investment and advisory company, plans to tap $500 million to invest in green business in Asia within the next three years.
The company will target pension funds, private equity firms and high net worth individuals for investments in specialist funds and companies involved in environmental projects, including water treatment, sustainable land management and low-carbon transportation, CEO Jonathan Maxwell told Reuters.
SDCL will develop projects worth around $100 million, with a view to enhancing energy- and resource-saving. Maxwell says that more than $100 billion is required every year in Asia to boost industrial and real estate energy efficiency schemes.
"We view energy efficiency as the largest source of clean energy and greenhouse gas emission cuts and almost certainly the most profitable source of clean energy that doesn't require massive state subsidies," said Maxwell.
Earlier this month, First Eastern Investment Group, a Hong Kong-based investor with interests in private equity and venture capital, acquired a minority stake in SDCL. The two firms have also set up an Asia-focused joint venture. SDCL will develop its energy efficiency projects through the newly formed venture.
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