The Emerging Energy Latin America Fund II is designed to boost the private sector as a driving force in clean technologies and renewable energy in the region. It will invest in renewable projects and in energy services companies using clean technologies, including waste-management, biomass, energy efficiency and smart-grid projects. The IDB’s support of the fund fits in with the Bank’s commitment to help mitigate the impact of climate change.
The fund will be managed by Stamford, Connecticut-based Emerging Energy and Environment, LLC (EEE), which specializes in clean and renewable energy, clean technologies, climate change and environment and low-carbon infrastructure investments and advisory services.
The IDB loan is expected to be supplemented by contributions from equity investors to include International Finance Institutions and other local and international capital sources.
The eventual size of the Emerging Energy Latin America Fund II is targeted at approximately $150M. The Emerging Energy Latin America Fund II is the successor to a previous CleanTech Fund, an earlier stage $25.2M fund that had a similar focus on renewable energy and clean technology and was supported by the IDB’s Multilateral Investment Fund (MIF).
