Chennai, Dec 7: ENAM Group, a leading financial institution, has signed a 50:50 joint venture agreement with Sindicatum Carbon Capital International Limited (SCC), a global turnkey developer of Greenhouse Gas (GHG) abatement projects.
This joint venture was intended to lead the climate mitigation market in India via the implementation of best of class technology wherever pollution from greenhouse gases can be abated, ENAM said in a release here today.
SCC and ENAM would use their significant pool of capital to accelerate the development of Indian GHG reduction projects and investment in new and emerging Indian climate change technologies.
ENAM Head-Emerging Businesses Vishal Kedia said "we will be able to accelerate ENAM's growth further by adding a new vertical to our businesses.
"ENAM will leverage SCC's expertise and ENAM's corporate relationships in India and beyond to offer best solution for our clients in the CDM space." Sindicatum Carbon Capital's CEO Assaad Razzouk said "SCC's platform is designed to mitigate climate change by capturing greenhouse gases and turning these into energy.
"Our partnership with ENAM will significantly strengthen our operational capabilities to deliver solutions to businesses in India that aim to enhance our collective quality of life while striving to deliver zero-emission industrial processes," he added.