JCM Power Corporation
Introduction
JCM Power is an independent power producer that develops and implements renewable energy projects in sub-Saharan Africa and Asia.
Swedfund's investment contributes to increased production and access to electricity, reduced carbon emissions and the implementation of international sustainability standards in the sector. JCM has developed and operates solar and wind power facilities in Pakistan and Malawi.
Swedfund qualified the investment in JCM Power for the 2X Challenge in 2020.
Read more in our press release: Swedfund continues investing in renewable energy
Facts
SDG in focus
No Poverty
End poverty in all its forms everywhere.
Decent Work and Economic Growth
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.
Climate Action
Take urgent action to combat climate change and its impacts.
Sector
Energy & Climate
Access to renewable energy is a crucial factor for economic growth and poverty reduction. Today, around 750 million people lack access to electricity, three quarters of whom live in sub-Saharan Africa and the least developed regions of Asia.
Value creation
Our Impact
The investment contributes to increased production and access to electricity, reduced carbon emissions and the implementation of international sustainability standards in the sector. Furthermore, the investment is expected to contribute to jobs and other income-generating opportunities locally.
ESG
We are working closely with the company to, among other things, develop and implement an environmental and social management system that has the capacity to manage and mitigate environmental and social risks associated with the sector.
Additionality
Our investment is financially additional as it is made in challenging contexts where access to capital is limited and poverty rates are high. The investment is value additional through a strong focus on active value creation during the investment phase where environmental, sustainability and corporate governance issues are prioritised.
Previous investments
In 2018 Swedfund invested 15 MUSD
In 2019 Swedfund increased its investment with 10 MUSD