UK Climate Investments LLP (UKCI) has been established to invest in international renewable energy and energy efficiency projects in developing countries. With up to £200m of funds, UKCI is a joint venture between the UK Green Investment Bank (GIB) and the UK Government’s department for Business, Energy and Industrial Strategy (BEIS).
UKCI investments will help to build vital new green energy infrastructure in countries with carbon intensive economies and/or limited access to electricity. Initial target countries will be India, South Africa and parts of East Africa (Kenya, Rwanda, and Tanzania). These are regions with high demand for new generation capacity where renewables present a competitive alternative to fossil fuels.
UKCI will adopt GIB’s approach to investments within the UK: it will invest in green projects on commercial terms and will mobilise additional private sector capital. The joint venture will make minority equity investments of c. £10-30m into renewable energy generation and energy efficiency projects which use proven technologies.
The fund has been allocated up to £200m of capital from the UK Government's International Climate Fund, a £3.9bn fund which aims to help the world’s developing economies adapt to climate change and promote cleaner, greener growth.
UKCI has a dedicated team of investment professionals with extensive experience in emerging markets and investing in renewable energy. This team is supported by the wider Green Investment Bank team of over 100 professionals and the associated Green Investment Bank infrastructure.
Stephen West is Managing Director of UK Climate Investments, a joint venture between the UK Green Investment Bank and the UK Government’s Department for Energy and Climate Change.
Stephen was a Founding Partner of Actis Capital LLP where he gained a broad exposure to Actis’ emerging markets private equity investment business with a focus on the power sector in geographies including Africa, Latin America and Asia. Stephen joined Actis in 1994, when the company was still part of CDC Group plc, and spent nine years in Latin America as an investor; originating, negotiating and managing private equity and risk capital deals.
He has originated, completed and exited a number of successful private equity deals in the power and other sectors including helping to drive the creation and evolution of Globeleq, an emerging markets power company.
Based in London, Stephen is a Chartered Management Accountant and has an MBA (with a specialist focus on International Business) from Strathclyde Graduate Business School.
Amit Rama is Director of UK Climate Investments, a joint venture between the UK Green Investment Bank and the UK Government’s Department for Energy and Climate Change.
A qualified chartered accountant, Amit has 14 years of experience as a corporate finance advisor. He has eight years specialist experience in the renewable energy sector including three years with the UK Green Investment Bank’s investment banking team focusing on the waste and bioenergy and offshore wind sectors.
Amit formerly held positions in the natural resources and utilities sector M&A advisory team at Nomura International, Argent Partners and in financial advisory with Deloitte.
Ana Plecas is Vice President of UK Climate Investments, a joint venture between the UK Green Investment Bank and the UK Government’s Department for Energy and Climate Change.
Ana’s background is in international development with a particular focus on infrastructure and climate finance. She started her career at the World Bank in Washington, DC and has 10 years of specialist investment experience in project finance transactions in emerging markets. She spent the last five years working for a leading UK-based developer and has successfully originated and executed several power generation projects across sub-Saharan Africa.
Ana holds a Master of Arts in International Affairs from the School of Advanced International Studies (SAIS), Johns Hopkins University.