Berkeley REAF II (IFC-37536)

Regions
  • East Asia and Pacific
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jan 29, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
RENEWABLE ENERGY ASIA FUND II, L.P.
The holder of the loan, grant, or other investment.
Sectors
  • Energy
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 250.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 26, 2018

Disclosed by Bank Dec 22, 2015


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Project Description

Berkeley Renewable Energy Asia Fund II (“REAF II” or the “Fund”) is a 10-year private equity (“PE”) fund which aims to raise $250 million commitments to be invested in renewable energy projects in emerging markets in South and Southeast Asia. REAF II will make equity investments into development stage renewable energy projects and project developers, mature these investments into operation and generate enhanced returns through successful exits either on an individual asset basis or as a portfolio or collection of portfolios. The Fund will be managed by Berkeley Energy (“Berkeley” or the “Manager”), an independent fund manager established in 2007 that has been focusing on investment opportunities in renewable energy in emerging markets.

Investment Description
  • International Finance Corporation (IFC)

This project finances a 10-year private equity investment in the Berkeley Renewable Energy Asia Fund II, which will be managed by Berkeley Energy, an independent fund manager established in 2007 that has been focusing on investment opportunities in renewable energy in emerging markets.

Private Actors

Berkeley Renewable Energy Asia Fund II is a 10-year private equity fund which aims to raise $250 million commitments to be invested in renewable energy projects in emerging markets in South and Southeast Asia.

Berkeley Energy Corp. is an independent PE fund manager established in 2007 by Mr. Tarlochan (TC) Singh Kundi and Mr. Alastair Vere Nicoll with the key objective of capitalizing in a sustainable manner on the attractive, yet relatively untapped opportunity for direct investment into renewable energy investments in emerging markets. In Asia, Berkeley’s investment team is located in Singapore, New Delhi and Manila.

 

Contact Information

Michael Brown
Investment Director
82 Amoy Street Singapore 069901
Tel: +65 6750 4505
Email: mailto:MBrown@Berkeley-Energy.com
Website: http://www.berkeley-energy.com

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