TORONTO–(BUSINESS WIRE)–February 14, 2018–
JCM Power Corporation (JCM Power) introduced in the present day that FMO – the Dutch growth financial institution – has dedicated to speculate as much as US$25 million in JCM Power.
JCM Power is a Canadian-based renewable power impartial energy producer creating and working renewable power tasks in Africa, Latin America and South Asia. JCM Power goals to ascertain long-term partnerships with native communities, governments and monetary establishments to construct and function clear power tasks in markets the place economies are rising quickly and electrical energy is at present scarce, however solar and wind are plentiful.
“We are thrilled to construct on our profitable relationship with FMO, who has been a supportive associate in a number of JCM Power tasks to this point. Our shared values and fervour for bringing renewable power to development markets had been the driving components that made this funding attainable,” stated Christian Wray, CEO of JCM Power.
“This milestone funding in an entrepreneurial and impressive renewable power platform that goals to construct excessive impression tasks in rising markets globally makes us proud. The first funding in Pakistan demonstrates a superb begin of the excessive impression potential of the platform”, stated Linda Broekhuizen, CIO of FMO.
The funding agreements, which had been signed in December 2017, permit JCM Power to attract down on FMO’s dedication as wanted to fund building fairness and the acquisition of extra undertaking pursuits, with a portion out there for growth and company prices. FMO receives convertible most well-liked shares of JCM Power for the quantities invested.
About JCM Power
JCM Power is an impartial energy producer (IPP) devoted to accelerating social, financial and environmental sustainability in development markets by way of the event, building and operation of renewable power infrastructure. Our driving imaginative and prescient is to advance the clear power age.
FMO is the Dutch growth financial institution. As a number one impression investor, FMO helps sustainable personal sector development in creating international locations and rising markets by investing in formidable tasks and entrepreneurs. FMO believes robust personal sector results in financial and social growth, and has a greater than 45-year confirmed observe document of empowering individuals to make use of their abilities and enhance their high quality of life. FMO focuses on three sectors which have excessive growth impression: monetary establishments, power, and agribusiness, meals & water. With a dedicated portfolio of EUR 9.8 billion spanning over 92 international locations, FMO is among the bigger bilateral personal sector developments banks globally. For extra data: please go to www.fmo.nl
Paul Hartogsveld, +31 70 314 9928
Senior Corporate Communications
M: +31 6 11589127
JCM Power Corporation
This article sources data from VentureBeat