CalCEF Ventures engages in innovative financing models for clean energy solutions. In the past that has included a “fund of funds” approach, providing first money into catalytic clean energy venture funds. More recently, we have been engaging as a mission-aligned implementing partner to pilot clean energy solution financing. This includes:
We invested $3 million in cKers Finance’s Sustainable Energy Bond issuance for India. These bonds are a new and innovative instrument that allow impact investors to finance sustainable energy assets exclusively, as well as track the impact of their capital on an ongoing basis. The proceeds of the bonds will primarily be used to scale-up newer models that accelerate decentralized solar segments. These include the nascent pay-as-you-go models in India for residential and commercial solar systems, solar pumps, and off-grid solar for micro/mini-grids segments. Part of the proceeds will also be invested in the emerging ESCO (energy service company models) that promote energy efficiency.
Navajo Power is a Public Benefit Corporation that develops solar and storage projects on native lands to catalyze economic empowerment for native families and communities. We are an advisor to Navajo Power to secure project-related investments (PRI) from foundations.
We are the fiscal sponsor of a social enterprise developing a mechanism to develop PRECs (Peace Renewable Energy Credits) to accelerate the adoption of renewable energy in conflict and crisis settings.
We are incubating a platform for awareness building, education and facilitation of clean energy projects in Opportunity Zones, i.e. the most disadvantaged communities in the USA, that have been designated for tax-preferred investments in economic development projects with an initial investment mandate between 2019 and 2021.