Gulf Energy Development Public Company Limited (SET: GULF) announced on Monday that its wholly-owned subsidiary Gulf International Investment (Hong Kong) Limited or Gulf HK has entered into a subscription agreement to commit to invest EUR75 million (equivalent to approximately THB2,730 million) in Lightrock Climate Impact Fund SCSp (LCI Fund), which has a fund life of approximately 10 years and an investment period of 5 years for which capital calls will be made gradually.
LCI Fund is advised by Lightrock, which was founded by the Princely House of Liechtenstein and is backed by LGT Group; a leading private banking and asset management group. LCI Fund targets ESG-aligned investments across different investment themes such as 1. Energy Transition, such as renewable energy, battery storage and energy efficiency, 2. Decarbonizing Industries, such as carbon capture and storage, and green industrial processes, 3. Sustainable Transportation, 4. Sustainable Food and Agriculture, and 5. Enabling Technologies and Solutions, such as advisory services for developing emission reduction projects.
The investment in LCI Fund is aligned with the company’s objective to focus on investments in businesses related to renewable energy and climate management, in accordance with the global target to achieve net zero emissions by 2050. Furthermore, this investment demonstrates the company’s commitment towards environmental and social responsibility while achieving good financial returns.