Toronto – November 27th, 2015 – Carbon Mercantile Exchange (CMX) has announced its launch of a solar development capital fund for commercial power purchase agreements. The fund consists of a series of international partnerships amongst infrastructure, solar and investment funds focused on the development of commercial scale power purchase agreements. The fund will focus on opportunities in the Middle East and the Caribbean as multiple countries step back from the use of fossil fuels and incorporate renewable energy into their national grids.
“It demonstrates a great deal of progress amongst our capital market partners,” stated Trevor Ducharme, President of CMX. “Renewable energy is not only a more sustainable choice but has repeatedly proven itself to be a very stable investment amongst our partners.” Additional to the clean energy being generated the solar projects will also produce valuable carbon offsets (credits), which are in high demand. The solar projects will be privately financed and held as long-term investments.
The construction phase of each project is estimated to create up to 150 jobs, with a series of permanent jobs remaining once each development is complete.
“We are continuously signing new partnership agreements as more investment funds diversify their portfolios to include renewable energy,” stated Ducharme.
With the UN Conference on Climate Change (COP) in Paris just days away, a global strategy for reducing carbon emissions is extremely close. Current commitments on greenhouse gas (GHG) emissions are due to run out in 2020 and governments are convening in Paris to agree on a roadmap for what happens in the next decade and beyond. For any such agreement to work, however, it must include a transition from high-carbon, fossil-fuelled energy production, to one where power comes from clean, renewable energy.
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Company Name: Carbon Mercantile Exchange (CMX)
Contact Person: Executive