25-08-2017, 09:32 PM
Green India Venture Fund (GIVF)
Objective of the Fund
The objective of GIVF would be to invest in companies setting up Clean Development Mechanism (CDM) projects and other commercially viable projects/ business aiming at following :
Reduce or eliminate negative ecological impact;
Improve the productive and responsible use of natural/other resources;
Promoting use of alternative/non-conventional/renewable energy sources;
Synchronizing business practices for maintaining ecological balance and sustainable environment
Need for such fund
Climate change is among the most challenging issues mankind has ever faced. Greenhouse gases form a blanket layer over earth's atmosphere and trap heat waves within atmosphere, thus, gradually leading to rise in global temperature. GIVF proposes to contribute to cleaner environment and sustainable development and also generate substantial revenues for all willing to espouse the cause of clean environment.
Constitution / Structure of Fund
Domestic Fund
Green India Venture Fund is SEBI registered Trust Fund. IFCI Venture has been appointed as Investment Manager of the Fund.
The constitution / structure of the Overseas fund would be decided after careful examination of all aspects such as taxation and other advantages. To enable the overseas investors to get benefit from the double tax avoidance treaty, the part of fund may be Overseas domiciled fund in the tax advantage territory.
Preferred Sector and Investment Criterion
The investment under GIVF would generally be made under following segments:-
Energy Efficiency: equipments, industrial process, lighting, building material, glass, others;
Renewable/non-conventional energy: Wind, Solar, Biomass and any other renewable/non-conventional energy source;
Energy storage: Fuel cells, advance batteries, hybrid systems and other energy storage technology/process/equipment;
Waste management including waste recycling, waste usage etc.;
Water and waste water: Water treatment, water conservation and others;
Pollution control projects/processes & technologies;
Transportation: Vehicles, logistics, structures, fuels etc. aimed at improving efficiency and/or reducing negative environmental impact;
Materials: Nano, bio, chemical & other materials with clean & environment friendly applications;
Afforestation and reforestation activities;
Manufacturing/ Industrial process aimed at reducing negative ecological impact; and
Any other projects as per objective of the fund