New Energy Nexus
For Driving Innovation For Decarbonization With Chinese State-owned Enterprises
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Amount$250,000
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Program
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Date Awarded5/25/2023
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Term12 Months
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Type of SupportProject
Strategies
Overview
New Energy Nexus (NEX) supports diverse entrepreneurs to drive innovation and build equity into the global clean energy economy. This grant will support NEX’s work to increase the capacity of Chinese companies to adopt a new energy innovation toolkit with technical, financial, and business solutions.
About the Grantee
Grantee Website
www.newenergynexus.com
Grants to this Grantee
for development of global EV Guarantee Facility
New Energy Nexus is a public charity that supports diverse entrepreneurs to drive innovation and build equity into the global clean energy economy. It is working with the U.S. International Development Finance Corporation to design a pilot guarantee program in India — meaning the corporation will provide financial guarantees to a selection of banks who finance local non-banking financial institutions to make loans for the purchase of electric vehicles for personal and business use. The goal of the pilot is to create a facility and structure that can be expanded from India to additional countries in the Global South (starting with Kenya), and additional lenders.
for the development of the Global EV Guarantee Facility
New Energy Nexus supports diverse entrepreneurs to drive innovation and build equity into the global clean energy economy. The organization plans to bring together a coalition of partners and funders to explore the possibility of creating an EV Guarantee Facility, a project that would provide credit enhancement to consumer financing for EVs. This project grant facilitates development of the concept.
