According to the bank's website, "The transaction involves the administration of an equity investment of up to the Indian rupee equivalent of $2,000,000 to be provided by the Asian Development Bank (ADB) Ventures Investment Fund 1 in Smart Joules Private Limited (SJPL) in India. Consistent with the establishment arrangements for the fund, ADB will not invest its own capital alongside the fund. SJPL is an India-based provider of data-driven energy efficiency solutions for commercial buildings, targeting large hospitals as the beachhead market. SJPL delivers energy savings through a combination of (i) a proprietary Internet of Things (IoT)-based sensing and analytics platform, and (ii) the application of an Energy Efficiency as a Service (EEaaS) business model. The investment will improve energy efficiency in commercial buildings by reducing carbon emissions and making the distribution system smarter. SJPL's vision to promote energy efficiency and eliminate energy poverty aligns with ADB's operational priorities to tackle climate change, building climate and disaster resilience, and enhancing environmental sustainability in Asia and the Pacific."
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||Smart Joules Private Limited||Client||-|
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Office of the Director General, PSOD
Responsible ADB Officer Mellor, Dominic P.
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