Gurgaon, Haryana May 17, 2024 (Issuewire.com) - Marman Climate-Smart Finance Inc. (“Marman”, www.marmangsv.com), a US-based company investing in sustainable & green finance in emerging markets, has successfully deployed its first fund in India’s fast-growing rooftop solar assets (“RTS”).
The fundraise and deployment were led by Marman’s India entity - Marman Climate-Smart Technology Private Limited (“Marman India”). Marman India was founded to extend Marman’s innovative climate investments and finance to India’s underserved Small & Medium Enterprises (SMEs), startups, and consumers adopting innovative and viable climate-smart technologies.
Marman India partners with local SMEs across India who have the proven expertise to deploy cleantech assets, but lack the financial backing required to scale up such technologies. There are also several unrated C&I (Corporate and Institutional) energy consumers in India, that are unable to adopt viable rooftop solar technology today, simply due to the lack of finance. Marman India targets to plug this gap in the market between the underserved renewable energy producers and consumers.
The successful deployment of its first fund within a month of its launch is a strong testimony to the dire need for innovative solutions to help India achieve its climate goals. The launch of the Indian government’s key rooftop solar initiative - PM Suryoday Yojana 2024 - has also created a fresh buzz among entrepreneurs wanting to solve India’s ambitious RTS goals.
Due to a strong RTS deployment demand from the first fund, Marman will soon launch its second India fund focused again on the RTS assets.
Marman targets to grow its India portfolio to US$1 billion by 2030.
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