Building a 1 GW renewable energy portfolio by 2024
Promote sustainable development and play our tiny party in mitigating climate change by developing and commissioning 1000 MW of renewable energy in Asia (excl. India & China) by the year 2025.
To promote sustainable development and support the local communities while inculcating a standard of excellence in business operations that ensures the best in class project implementation and operation, translating into superior returns for our investors.
What We Do
Carbon Watch will strive to gain a significant growth in the renewable energy market. Its future vision is to expand its portfolio of 1 gigawatts (“GW”) in 48 months. The way forward in ensuring this growth will be through green/brown field project developments and strategic acquisitions.
The Carbon Watch team is one that has built a reputation for successfully implementing projects and generating superior investor returns. Backed by an extensive experience in Engineering, Procurement and Construction of projects, we have what it takes to get the work done.
A disciplined, experienced company offers one of the most rewarding opportunities in the Solar energy value chain. The key drivers for investing in such a development are Strong returns and de-risking of projects through long-term contracts and other arrangements.
Asset and capital management in a disciplined manner is another requirement: A smart Asset Management strategy includes maximizing returns through world class operation and maintenance systems. Dealing and negotiating on pricing with Local Distribution Companies, building long term relationships is vital so is ensuring consistent payments and executing strategic exits for the Assets when necessary.
Founder, Out of the box thinker with a passion for renewable energy
MBA – INSEAD (France), Chartered Accountant – ICWAI
Passionate about climate change mitigation and renewable energy, Deepak was on the founding advisory board of the WWF Gold Standard, one of the first members of the Roaster of Experts on the UNFCCC on Clean Development Mechanism and also a member of the advisory panel for developing new CDM methodologies. Deepak set up India’s first Carbon Credit advisory firms in the year 2002 and was involved / instrumental in developing some of the largest CDM projects globally.
Deepak has over 23 years of experience in the financial services, investing, fund/asset management space. Prior to Backbay, Deepak was the CIO of a multi-billion-dollar family office based in Singapore where investing and managing real estate assets was one of his key focus areas. With strong execution mindset, Deepak is a strategic thinker with the rare ability of looking at the big picture without missing out the granular detailing. Real estate experience includes (i) Netherlands : developing a portfolio of grocery super market and leading the team (on behalf of the investor) bidding for the redevelopment of the Amsterdam Prison (ii) India : On the Investment Committee of AT Capital and deeply involved with the real estate investments in NCR. Involvement included in depth management and operational issues (iii) China : Invested in a distressed property in Dalian, where he learnt what not to do!
MBA –IIM Bangalore, BE Ind. Engg. IIT Rourkee
Amit has over 24 years of experience in M&A, strategy & business planning, fund raising through private equity and structured debt financing. Amit has in depth knowledge and experience in structuring and managing complicated Joint Ventures. Amit is one of the founding partners of Backbay Equity Partners LLP, a specialised financial advisory firm.
Electrical Engineer, Wurzburg University
Klaus has over 26 years of work experience in construction space, primarily in Solar, he had served German Military for 8 years. Owner of Solar Fabric which was a German company formed in 1978, initially in construction business was one of the first companies to start construction of solar plants in Germany. He was partner of a thin-film module manufacturing company. Owner of TIF, which has been involved in construction of more then 460MW across globe, it has a team which has done work across the value chain.
President – Project Development & Execution
MBA – Finance (SP Jain), CFA (ICFAI)
Niraj has over 11 years of experience in financial services, project development and execution. Prior to Backbay, Niraj lead the team in Funsolar development and execution of MW sized solar projects. With precise planning, the company achieved financial closure and commissioning within three months of getting the project.
Strategy - Our PlanTarget: 1 GW by 2024
Our Strategy aims to gain a foothold in the renewable energy sector and grow to 1 GW in the next 48 months. This will be achieved by a mix of early start brown field projects and long gestation green field projects. We believe that the value is in projects developed by us from scratch!
Development of Wind Sites
Initiate Solar Development in Vietnam
Carbon Watch will start Solar project development in Vietnam as the environment is ideal for investment in this fast developing country.
Projects in other Emerging Markets
How we will mitigate investor risks?
The CarbonWatch way of doing projects is one that has, at its heart the interest of the community and the investors. We believe that if we do things the way they are supposed to be done…without short cuts or cutting corners..we will create superior value….consistently.
At the core of our model is our innate desire to manage risks AND we do this by securing superior project sites, reliable power purchase agreements, optimal financing / capital structures, use of top class equipment and good old-fashioned conservatism….we believe in cash flow driven opportunities…and not exit valuations! We significantly reduce risks project risk as under:
By undertaking projects backed by Sovereign / quasi sovereign Power Purchase Agreements (PPA). Non Sovereign PPAs are limited to top quality AAA+ names only.
Termination/ No Offtake Risks
All PPA’s undertaken will have a term of atleast 20 years with a no exit option and are bankable.
Vendor guarantee of 98% of performance ratio i.e., generation adjusted for ‘actual’ solar radiation received. India averages at PR = 103%
Forex/ Interest Rate Risk
Modules/Inverters that constitute about 60-65% of the project cost are imported. However, suppliers are required to quote to us in local currency in order to minimize currency risk.
Performance of the Solar Panel systems is guaranteed by purchasing only superior quality systems from market leading suppliers. Carbon Watch will only acquire modules with 25 year power generation warranty.
EPC Execution Risks
EPC Contracts will be undertaken by technically sound and reliable contractors and vendors. The duration of the contract will be short, restricted to about 6-9 months to prevent costs escalations.
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MC Energy Pvt. Ltd, 284 Vauxhall Street, Colombo 02, SriLanka
Backbay Capital Partners Pte Ltd, 80 Robinson Road, #09-06, Singapore
+65 9424 1692
801, Backbay Equity Partners LLP, Lodha Supremus, Mumbai
+91 99100 76640
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