According to FMO website, FMO proposes to provide up to US$50 million for a significant minority stake in the company. The funds will be used to partially acquire the seed assets and further grow the company’s portfolio of C&I assets. It will create distributed clean energy infrastructure for high quality corporate customers as well as local employment. It will allow these customers to fulfil their CSR targets targeting renewable energy supply and save on energy costs while also allowing the targeted countries to get closer to reaching their renewable energy targets – and supporting the energy paradigm shift from centralised to decentralised energy generation and utilisation.
Berkeley Energy Commercial & Industrial Company, to be established, is a distributed energy business that will develop, build and operate solar PV rooftop and ground mount installations for commercial and industrial (“C&I”) customers in emerging markets under power purchase agreements. The business is currently active in India and Thailand through its existing shareholder and aims to become a leading energy solutions business in the recently budding C&I clean energy market in India and SE Asia and potentially other emerging markets.
No contact information provided at the time of disclosure.
ACCOUNTABILITY MECHANISM OF FMO
Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism