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Oikocredit expands funding to renewable energy projects

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David ten Kroode

November 18 2014

Social investor and worldwide cooperative, Oikocredit, has created a new unit dedicated to investing in renewable energy projects across Latin America, Africa and Asia.

To support this portfolio expansion, Oikocredit has welcomed renewable energy financing expert, Mr David ten Kroode, to head the new unit from Oikocredit’s international office in Amersfoort, the Netherlands.

Mr ten Kroode has extensive investment and leadership experience, having worked in clean energy and equipment finance for over 10 years in both Europe and the US.

Prior to joining Oikocredit, Mr ten Kroode worked at American-based Key Equipment Finance, part of KeyCorp, where he headed a renewable energy investment team which financed commercial PV solar, landfill gas-to-energy, energy efficiency and remote power systems.

Oikocredit managing director, Mr David Woods, said he was pleased to have someone of Mr ten Kroode’s experience join the organization to grow Oikocredit’s investments in that sector.

“David, along with our staff across the globe, will look to invest in various clean technologies with a developmental impact,” said Mr Woods.

“The main technologies that David and our colleagues will be looking to invest in are solar (PV), wind, hydropower and biomass,” Mr Woods said.

Oikocredit has set a target to have around € 50 million of its capital invested in renewable energy projects by the end of 2016, with investments ranging from € 2 million to € 10 million per project.

Oikocredit’s approach is to invest in projects that are environmentally sustainable, reduce harmful emissions and support the infrastructure of underserved regions.

As Mr ten Kroode explains, he’ll be looking for long-term financing and relationship building in a number of different areas.

“Our investments will include large infrastructure as well as smaller off-grid projects through a range of different technologies and finance structures across a number of regions,” said Mr ten Kroode.

“Building up a quality portfolio will take time, however I’m confident that with the support from my colleagues across our offices worldwide, we will achieve our targets,” added Mr ten Kroode.

Oikocredit’s renewable energy strategy is part of Oikocredit’s triple bottom line of financing partner organizations that are financially sustainable, have a positive social impact and protect the environment.

Oikocredit finances and invests in microfinance, social and sustainable enterprises in low-income countries, with a focus on inclusive finance and organizations along the agricultural value chain. With operations in almost 70 countries, Oikocredit currently has assets totalling € 831 million (US$ 1 billion), with €653 million (US$ 829 million) invested in over 800 partner organizations.

More information about renewable energy

Press contact:

Oikocredit International

Kawien Ziedses des Plantes, Corporate Communications Manager

kziedsesdesplantes@oikocredit.org

+31 (0)6 272 549 04

 

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