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CII receives Award for 'Innovative Financing' at India Power Awards 2010 'Award re-affirms that 'Green Makes Business Sense,' says Mr Raghupathy
In what can be considered as a major milestone in 'Green Innovative Financing' CII's- New Ventures India (NVI) on 11 November 2010 received the prestigious India Power Award 2010 under Innovative Financing from the Council of Power Utilities for 'aiming to mobilize equity and debt investment to finance Green products technology & services'. CII was unanimously selected by the Jury for the Award.

New Ventures India is designed to meet the needs of Indian Entrepreneurs in the domain of Sustainability. NVI serves as a unique platform to the budding 'Green entrepreneurs' in facilitating them secure investments and to scale up their operations.

Further, NVI enables the entrepreneurs to have greater access to the markets and propel them to reach wider audience across the Globe.

In the past 4 years, New Ventures India has been able to facilitate investments to the tune of INR 122 Crores in 15 of the portfolio companies.

Some of the Green SMEs facilitated by NVI include- Nandan Biomatrix Limited, SBA Hydro Systems, Husk Power Systems, Kabirdaas Motor Company Pvt Ltd, HMX Sumaya Systems, Tribi Embedded Technologies, Kakatiya Energy Systems Limited.

Expressing delight over this achievement, Mr S Raghupathy, Senior Director & Head, CII-Godrej GBC said ??this award is a clear testimony that 'Green makes business sense' and that future belongs to those who embrace Green as a way of life.

Adding further, he said, this Award has bolstered CII's efforts in facilitating funding of Green SMEs and informed that CII envisions facilitating funding to the tune of INR 1,000 Crores by 2012.

New Ventures India is a joint initiative of the CII-Sohrabji Godrej Green Business Centre, Hyderabad and the World Resources Institute, Washington DC. This initiative is mainly supported by the British High Commission under the Strategic Programme Fund. US Department of State as well as USAID supports this initiative.

Hyderabad,12 November 2010

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