California’s New Energy Nexus invests $5m in Indian lender cKers Finance

California-based New Energy Nexus has invested $5 million in New Delhi-based specialised sustainable energy finance company cKers Finance Pvt. Ltd, per an announcement.

In a statement, New Energy said that it has invested in the Indian company through the cKers Finance Sustainable Energy Bond (SEB).

“SEBs are specialised instruments that allow investors to have exposure exclusively to sustainable energy assets. Unlike traditional green bond issuances, SEBs are viable at smaller scales, which helps catalyze collaborative action and investments that are imperative to raising capital for distributed clean energy around the world,” said Shilpa Patel, Director of Mission Investing at the ClimateWorks Foundation, an advisor to New Energy Nexus.

cKers Finance will use the funds to grow the distributed segments including residential and commercial solar systems, solar pumps, floating solar, solar cold chains and the like, it said in a statement. Part of the proceeds will also be invested in emerging energy service company models (ESCO) that promotes energy efficiency, it added.

“Overall, they have helped deploy over $30 million in the last 24 months. Our fund has invested a total of $5 million into cKers Finance, which we think is excellent leverage to accelerate the development of new distributed solar segments,” Danny Kennedy, chief energy officer at New Energy Nexus, said.

Established in 2017, cKers specialises in making project finance viable at a small scale for decentralised renewable energy; and develops asset-backed financing approaches. It is also supporting standards for sustainable energy bonds and building data around risk metrics for new segments.

The startup is working with a range of investors looking to deploy capital in the sustainable energy space.

“We have helped catalyze creation of over 45 megawatts of distributed solar energy assets across 100+ locations all over India. We have developed a range of financing products for emerging developers, renewable energy service companies- RESCOs, and clean-technology companies to enable them to grow. Our specialty is in being able to do smaller ticket-sizes, which most traditional financiers shy away from. And this year we are piloting even smaller ticket-sizes, for Small and Medium Enterprises- SMEs,” said Pawan Mehra, Director and CIO of cKers Finance.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.