JCM Capital (JCM), the Canadian-based private equity firm, announced last week that it has officially launched Clean Power Infrastructure Fund VI to provide construction and long-term equity financing for solar photovoltaic projects in emerging markets. The fund has a target size of up to US$150 million.
The fund will target countries with suitable regulatory frameworks and electricity demand in Latin and South America and Sub Saharan Africa. The fund has already secured a lead investor and secured commitments of US$15 million and with this momentum is expecting that a first-close of $50 million USD will be reached in late 2014.
The fund benefits from proprietary access to high quality project investment opportunities from JCM's Clean Power Development Fund V that includes utility-sized solar projects in Mexico, Ecuador, Cameroon and Malawi. JCM is working closely with the development finance institution community who are also expected to supply capital to the fund.
In connection with the launch of Infrastructure Fund, JCM welcomed Tom Heintzman, a seasoned clean power professional to lead its Infrastructure team.
Tom Heintzman is the new Managing Director of JCM's Infrastructure Group and is responsible for the overall management and execution of the fund. His responsibilities include investment origination, structuring and execution, and fundraising. Tom has over 20 years of operational, legal, and consulting experience with an emphasis on clean power. Prior to joining JCM in 2013, Tom founded Bullfrog Power and led it from 2004-2013.
Since its inception in 2009, JCM has successfully financed several portfolios of solar energy projects located in North and South America. JCM is currently developing a multi-billion dollar clean power portfolio that includes both utility-sized solar projects in emerging markets and a HVDC transmission project connecting Canada and the United States.