Reported by Cleantech earlier this week, “Four Asia-based private equity firms are rounding up capital for cleantech, marking the region’s first dedicated cleantech funds, according to London-based Preqin, a research and consultancy firm focused on alternative asset classes.
Preqin said the two largest funds hail from Hong Kong-based asset manager First Vanguard and Singapore-based Middle East & Asia Capital Partners, according to Business Week.”
Describing the different investment plans, the article talks about that “Middle East & Asia Capital Partners is compiling $400 million for its MAP Clean Energy Fund to invest in 10 to 15 geothermal, wind and bioethanol projects across Asia, with a focus on Indonesia, India and Pakistan.
Singapore-based private equity firm Ant Global Partners, in conjunction with the Indonesia Ministry of Finance, is financing a $250 million Ant Global Partners Cleantech Fund over the next three years for Indonesian water treatment and renewable projects. Selangor, Malaysia-based Abundance Venture Capital is also seeking $250 million for its AVC Abundance Energy Fund.”
“In total, Preqin said there are at least 10 private equity funds looking to raise up to $3.6 billion, with the four cleantech dedicated funds making up $1.4 billion of the sum. In recent weeks, the Cleantech Group spotted a number of other smaller private-equity or venture-capital funds in Asia with an emphasis on cleantech.
Despite the economic downturn, Preqin said cleantech fundraising remained steady in 2008, with 29 funds, mostly venture capital, raising $6 billion worldwide, about the same as what was raised in 2007.
Preqin said in North America funds for 2009 are looking to raise $9 billion, followed by European funds, which want to raise $7 billion.” So there seems to be hope that the private equity market will support some of the geothermal development in the region.
Source: Cleantech Group
