US$10 million approved for fund to promote clean energy in Latin America and the Caribbean

(Caracas, November 4, 2011). CAF – Latin American development bank – approved a US$10 million equity investment in the CleanTech Latin America II Fund, which finances projects for generation of renewable energy and clean technology in Latin America and the Caribbean.

CleanTech - a private capital Fund, managed by Emerging Energy & Environment - was set up to continue the success of the original CleanTech Fund which is now fully invested. The main geographical focus is Brazil, Chile, Colombia, Mexico and Peru; however, it will also invest in other markets in the region.

CAF President & CEO Enrique García said the Institution’s participation is due to its interest in projects that help reduce Global Warming and promote the use of alternative clean energy in Latin America, as implemented through the Latin American Carbon and Alternative Clean Energy Program (PLAC+e).

“This investment will facilitate increased participation by private investment in the renewable energy sector in the region” García added, emphasizing CAF’s catalytic role in strengthening and promoting the Fund’s actions with international investors.