UK Climate Investments LLP (UKCI) is helping to promote cleaner, greener growth in emerging economies.
UKCI was established in 2015 with a binding commitment of £200 million from the UK Government's International Climate Finance funding. Targeting transformational green energy investments in some of the world’s most carbon intensive economies, UKCI identifies opportunities where its capital can mobilise additional private sector capital on a sustainable basis to promote cleaner, greener growth in these emerging economies.
UKCI invests on commercial terms, making minority equity investments of typically c. £10-30 million into renewable energy and energy efficiency projects.
With a current geographic focus of India and Sub-Saharan Africa, UKCI is working closely with its investment partners to develop, build and operate green energy infrastructure in areas with limited access to electricity.
UKCI is a joint venture between the Green Investment Group (GIG) and the UK Government’s Department for Business, Energy and Industrial Strategy (BEIS). UKCI has a dedicated team of investment professionals who are supported by the wider Green Investment Group team and Macquarie Infrastructure and Real Assets' global platform and networks.
Supporting the build-out of green energy infrastructure
UKCI partnered with one of the UK’s leading solar developers on its first project in India – the greenfield development of a 50MW solar farm in Wagdari, Maharashtra.
In addition to exporting the UK’s industry-leading development, construction and operations expertise, the project is powering the equivalent of ~75,000 homes with clean electricity each year.
Driving innovation in India’s renewables sector
UKCI co-invested in a 185MW portfolio of solar farms across India. Built to world-class standards in regions highly dependent on fossil-fuel based generation, the portfolio will help avoid ~330ktpa of CO2 emissions over their operational lives and power approximately ~315,000 homes each year.
The portfolio was also used to establish the first offshore renewables strategy of its kind in India, marking a significant development in one of the world’s fastest growing solar markets.
Green finance market development
In 2019, UKCI announced that it would act as a cornerstone investor in a vehicle seeking to accelerate the installation of renewables capacity in sub-Saharan Africa.
UKCI’s commitment intends to help renewables developers unlock and recycle capital in established green energy projects.
Promoting clean growth
UKCI is helping commercial and industrial businesses across India rethink how they produce and consume electricity by helping CleanMax Solar expand its network of private solar farms.
CleanMax Solar partners with businesses to build new rooftop and ground mounted solar projects – enabling businesses to access clean, cheaper-than-grid electricity by removing the need for significant upfront capital investment.
Image: CleanMax Solar rooftop solar plant, KIOCL Limited, Mangalore, 380 kWp
Supporting South Africa’s transition to a new energy mix
UKCI is providing critical financing to support the development of 254MW of renewables projects across South Africa.
The projects are being supported through an innovative funding mechanism designed by UKCI to support Black Economic Empowerment entities. When completed in 2020, the projects will power ~200,000 homes each year.
Financing the construction of affordable green housing
UKCI intends to invest up to £30 million in order to finance the construction of affordable green housing in Kenya.
By demonstrating the viability of environmentally sustainable building design, UKCI’s commitment will help embed green standards in the Kenyan market and create a new green asset class for local institutional investors.
India’s renewables revolution
India’s continued economic development will rely on greater access to affordable electricity. UKCI's Richard Abel explores how ambitious targets for renewables investment are helping to promote cleaner growth in one of the world’s largest economies.
Powering cleaner growth in emerging economies
As large users of energy, businesses in emerging economies are increasingly focused on the sustainability of their operations. UKCI’s Richard Abel and Amit Rama explain how businesses are making the switch to renewable energy.
Green shoots: Three trends shaping Africa’s low-carbon opportunity
As business and political leaders met in London for the UK-Africa Investment Summit, UKCI’s Richard Abel shared his perspective on some of the trends shaping Africa’s growing clean energy sector.
Richard is Managing Director of UKCI.
The UKCI pilot is an exciting opportunity for Macquarie Infrastructure and Real Assets (MIRA) in partnership with the UK Government to invest £200m of UK climate finance funds in transformational green energy projects in sub-Saharan Africa and India.
MIRA is Macquarie’s specialist real asset fund management business and the largest infrastructure fund manager globally. Richard’s career in MIRA prior to managing UKCI has included global and pan-European COO roles and asset management and transaction activity.
Before joining MIRA in 2010, Richard was a UK Senior Civil Servant. He holds degrees from the University of Glasgow and University of British Columbia.
Senior Vice President
Senior Vice President
Amit Rama leads India coverage and transactions for UKCI.
A qualified chartered accountant, Amit has 14 years of experience as a corporate finance advisor. He has eight years specialist experience in the renewable energy sector including three years with GIG’s investment banking team focusing on the waste and bioenergy and offshore wind sectors.
Amit formerly held positions in the natural resources and utilities sector M&A advisory team at Nomura International, Argent Partners and in financial advisory with Deloitte.
Senior Vice President
Senior Vice President
Ana Plecas leads Africa coverage and transactions for UKCI.
Ana’s background is in international development with a particular focus on infrastructure and climate finance. She started her career at the World Bank in Washington, DC and has 10 years of specialist investment experience in project finance transactions in emerging markets. She spent five years after that working for a leading UK-based developer and has successfully originated and executed several power generation projects across sub-Saharan Africa.
Ana holds a Master of Arts in International Affairs from the School of Advanced International Studies (SAIS), Johns Hopkins University.School of Advanced International Studies (SAIS), Johns Hopkins University.