Khazanah forms clean energy investment JV with Camco
Khazanah Nasional, Malaysian's SWF, has announced a JV agreement with emission reductions and clean energy developer Camco International Ltd. (Camco), to invest into the clean energy and emissions sector in Southeast Asia.
Launching with $46.05 million of capital for investment - $14.7 million from Khazanah and $5.15 million from Camco - the new JV will also look to develop carbon control and advisory services. Khazanah has also committed to allocate up to $16.05 million further, subject to the perforamnce of the JV's carbon contract investments. With $10.15 million of Khazanah's commitment as a convertible bond, Camco will have a 60.1% stake in the JV at launch. AIM-listed Camco will also commit its Southeast Asian portfolio to the JV.
"This entity will serve as Khazanah's vehicle to grow the sustainable development sector as part of Malaysia's New Economic Model," said Khazanah MD Tan Sri Dato' Azman Hj Mokhtar.
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