Japanese ac firms target Latin America
8th December 2014
JAPAN: Daikin and Panasonic are two companies expected to participate in future energy-saving projects in Latin America.
The two Japanese manufacturers are identified by the Nikkei as two suppliers expected to participate in future projects by the Japan International Cooperation Agency (JICA), following the Japanese semi-governmental agency’s $10m investment in the MGM Sustainable Energy Fund (MSEF). The MSEF is a US private equity fund providing finance to projects in the demand-side energy efficiency and renewable energy sectors in Colombia, Mexico, Central America, and the Caribbean isles.
With Latin America’s power demand expected to more than double by 2030, energy efficiency and the adoption of renewable technologies are a major challenge.
The fund will support various energy conservation projects and renewable energy business. Japanese companies’ experience in the area of solar panels and, air conditionings expected to be in demand.
According to the Nikkei Asian Review, strong candidates to receive JICA money include a project in Mexico that uses waste heat from new air conditioners installed in hotels in Cancun, and a solar power project in Costa Rica.
“Consumer electronics maker Panasonic and air conditioner manufacturer Daikin Industries are among the suppliers expected to participate in future JICA projects,” it says.
The total amount of the fund at the moment is about $50m. In addition to JICA, other investors include the Inter-American Development Bank, the Global Environment Facility, the European Investment Bank and the German Development Corporation.
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