Daily News Wrap-Up: Bloomberg and Goldman Sachs Launch Climate Innovation Fund
Blue Bear raises $150 million in its second venture capital fund
September 23, 2021
Here are some noteworthy cleantech announcements of the day from around the world:
Bloomberg Philanthropies and Goldman Sachs launched the Climate Innovation Fund to support sustainable low-carbon economic development in South and Southeast Asia. The Asian Development Bank will manage the initial philanthropic fund of $25 million. The fund will be used to increase the pace, scale, and ambition of climate solutions and contribute to the clean energy transition. The fund will initially tackle projects with direct, measurable positive climate-related outcomes in India and Vietnam’s most carbon-intensive areas. Investments will focus on clean energy systems, sustainable transport, energy efficiency, and adaptation activities to improve the climate resilience of livelihoods and infrastructure.
Venture and growth equity firm Blue Bear announced the final close of its second venture capital fund at a hard cap of $150 million. The fund will be utilized on digital technologies impacting wind, solar, the electric grid, EV infrastructure, transportation, and energy-intensive industries.Investors in the new round include premier institutions AIMS Imprint of Goldman Sachs Asset Management, Rockefeller Brothers Fund, ZOMA Capital, and the McKnight Foundation.
GE Renewable Energy won a contract from Kalyon to deliver inverters for a Turkish solar project totaling 1,080 MW. Kalyon will provide its Flexinverter solar power station technology for the 270 MW Karapinar phase 2-A and 810 MW Karapinar phase 2-B solar project. The scope of work includes design, engineering, project management, site management, and commissioning. The project located in Turkey’s Konya Karapinar province is expected to reach commercial operations by December 2022.
Renewable energy company Greenko has signed up for “The Climate Pledge.” The company has joined over 200 companies that have pledged to achieve the net-zero carbon target by 2040, a decade ahead of the Paris Agreement goal. Greenko, with an operational portfolio of 7.5 GW and a pipeline of 15 GW of wind, solar, hydro, and energy storage assets spread across 15 states in India, is committed to achieving net-zero carbon emissions by 2040. It will continue to build upon its environmental obligation through greenhouse gas mitigation, climate risk management, conservation, and restoration of habitats, as well as circular economic approaches.