Swedfund continues investing in renewable energy

Swedfund continues investing in renewable energy projects by committing to invest USD 15 million in shares of JCM Power. JCM develops, builds and operates solar- and wind power plants in developing countries

– Access to electricity is a prerequisite for development, this is why investments in renewable energy are prioritised for Swedfund, says CEO Maria Håkansson. JCM’s strategy, to be a sustainable and long-term investor focusing on building renewable energy projects in developing countries, makes the company an interesting partner to us.

Still today around one billion people do not have access to electricity. Lack of reliable and clean energy is a big challenge for developing countries. It hinders economic growth and affects poor people the most. Many individuals are forced to produce their own means of energy, in many cases using diesel generators or wood-burning stoves, which is expensive and harmful to people’s health and to the environment.

Access to affordable, reliable and clean energy is one of the UN Sustainable Development Goals. Often technical conditions for renewable energy are good in developing countries, but many potential projects are not implemented due to lack of knowledge and financing

– We are thrilled to announce this important milestone with a leading investor in the renewable energy space. Swedfund’s strategic investment supports JCM Power’s strategy to build a leading renewable energy IPP in growth markets, says Christian Wray, CEO JCM Power.

About JCM Power

JCM Power is an independent power producer (IPP) dedicated to accelerating social, economic and environmental sustainability in growth markets through the development, construction and operation of renewable energy infrastructure. Our driving vision is to advance the clean energy age.