Green Ventures ropes in European companies
25 Mar 2008, 0033 hrs IST
,
Namrata Singh
,
TNN
MUMBAI: The Green Ventures Carbon Fund has tied up with a few major European financial partners and are actively looking for Indian strategic partners and project developers either for carbon credits or to jointly set up environment friendly projects.
Though names of the partners was not revealed, Green Ventures India MD Krish R Krishnan told TOI : "We can leverage this strategic relationship to effectively become more aggressive investors and assimilate a larger carbon credit portfolio in India now and for a much longer term."
TOI had reported in its edition dated January 14, 2008, that the New York-based Green Ventures International has dedicated its first Asian fund of $300 million to India. The objective is to monetise carbon credits from clean development mechanism (CDM) projects across the country.
"We continue to make significant strides in our mission to serve as India's carbon commerce catalysts. In particular, we continue to both sponsor as well as initiate our own slew of renewable energy Initiatives," said Krish R Krishnan.
The plans include development of a 5mw wind farm in the wind corridor in the Tirunelveli district in Tamil Nadu.
Further, based on the latest incentives announced by the Centre on new and renewable energy to support solar power, Green Ventures is exploring the option of setting up a 5 Mega Watt solar farm in the next quarter in Tamil Nadu.
There is also continued activity supporting development of a 120mw run of the river hydro plant in Indo-Nepal border, which is the largest independent power project currently in Nepal and a 100% export oriented site with the power slated for the Indian grid.
Green Ventures will source carbon credits from Indian projects, which have adopted cleaner methods of manufacturing to reduce emission of greenhouse gases, and in turn sell them to other global buyers.
25 Mar 2008, 0033 hrs IST




MUMBAI: The Green Ventures Carbon Fund has tied up with a few major European financial partners and are actively looking for Indian strategic partners and project developers either for carbon credits or to jointly set up environment friendly projects.
Though names of the partners was not revealed, Green Ventures India MD Krish R Krishnan told TOI : "We can leverage this strategic relationship to effectively become more aggressive investors and assimilate a larger carbon credit portfolio in India now and for a much longer term."
TOI had reported in its edition dated January 14, 2008, that the New York-based Green Ventures International has dedicated its first Asian fund of $300 million to India. The objective is to monetise carbon credits from clean development mechanism (CDM) projects across the country.
"We continue to make significant strides in our mission to serve as India's carbon commerce catalysts. In particular, we continue to both sponsor as well as initiate our own slew of renewable energy Initiatives," said Krish R Krishnan.
The plans include development of a 5mw wind farm in the wind corridor in the Tirunelveli district in Tamil Nadu.
Further, based on the latest incentives announced by the Centre on new and renewable energy to support solar power, Green Ventures is exploring the option of setting up a 5 Mega Watt solar farm in the next quarter in Tamil Nadu.
There is also continued activity supporting development of a 120mw run of the river hydro plant in Indo-Nepal border, which is the largest independent power project currently in Nepal and a 100% export oriented site with the power slated for the Indian grid.
Green Ventures will source carbon credits from Indian projects, which have adopted cleaner methods of manufacturing to reduce emission of greenhouse gases, and in turn sell them to other global buyers.