JCM Capital, a Canada-based investor and renewables developer, has launched a fund expected to secure $50m by the end of the year – and $150m eventually – for PV projects in developing countries.
Power Infrastructure Fund VI has already secured commitments of $15m, and
Toronto-based JCM expects development finance institutions to contribute
substantial additional amounts.
will build green-field PV projects in South America, Central America and
sub-Saharan Africa, focusing on countries with “suitable regulatory frameworks
and electricity demand”.
JCM aims to
become a “leading player” in PV development in some African markets, where PV
is expected to be the fastest-growing source of electricity generation in the
claims to have developed and financed more than 70 solar projects in the last
five years, many of them in emerging markets.
will provide investors with “the steady cash flow of infrastructure combined
with the growth of emerging markets”, says Tom Heintzman, managing director for
JCM Capital’s Infrastructure group.