Tata, Tchenguiz in talks on USD 10 bn environment fund
UK-based property magnet Vincent Tchenguiz is holding talks with Indian conglomerate Tata, to invite investment from the latter in a new USD 10 billion environment fund, reports agency sources.
The fund would invest in clean-energy projects in India and develop alternative technologies to replace fossil fuels. India`s largest car maker, Tata wants access to technology that will make its businesses more energy-efficient.
Iran-born Tchenguiz is also talking to other potential investors about the proposed fund and other similar ventures, which if implemented will deploy the technologies developed by his alternative-energy companies.
Tchenguiz is also planning to tap the USD 20 billion worth of offsets generated each year globally. Individuals, companies and governments purchase carbon offsets to mitigate their own greenhouse emissions in the global offset market.
UK-based property magnet Vincent Tchenguiz is holding talks with Indian conglomerate Tata, to invite investment from the latter in a new USD 10 billion environment fund, reports agency sources.
The fund would invest in clean-energy projects in India and develop alternative technologies to replace fossil fuels. India`s largest car maker, Tata wants access to technology that will make its businesses more energy-efficient.
Iran-born Tchenguiz is also talking to other potential investors about the proposed fund and other similar ventures, which if implemented will deploy the technologies developed by his alternative-energy companies.
Tchenguiz is also planning to tap the USD 20 billion worth of offsets generated each year globally. Individuals, companies and governments purchase carbon offsets to mitigate their own greenhouse emissions in the global offset market.