The Libra Project
The Libra Project's mission is to design and build renewable, clean energy projects in developing economies.
Our intent is to address fundamental human needs, significantly improve the quality of life and contribute to social and economic development. Our rationale lies in a deeply embedded notion that environmentally sound growth strategies will enable developing societies to produce educated and capable human talent, that will intellectually elevate their communities and propel humankind into a sustainable future.
Libra’s management team has deep renewable energy, power engineering, construction and investment experience in developing markets, where it aims to be a focused investor, developer, and deliverer of clean and sustainable energy assets. - Changing the future of the world for the better.
Why we do what we do.
Please see our short video, it helps explain everything.
The Libra Fund
Impact Investing - Your money, making a difference.
For far too long hedge funds have been all about returning profit, no matter how and at whatever cost, often with little or no thought as to the sustainability of the underlying assets, and how these investments will impact the world in the long term. Most funds are driven by greed and profit rather than a desire to change the world for the better.
Impact investing is a term that we expect to start hearing a lot more of in future. An impact investment fund manager primary goal is understanding what effect investing in a project or company will have on the environment, lives, and education of those living and working in the project area. The fund's goal is making the world a better place through investing in projects that will change the lives of many for the better in a way that is sustainable and ecologically enhancing.
The Libra Fund has been designed as a vehicle to raise capital to directly invest in projects that have been developed by the Libra Energy management team. With the primary focus on how clients investments will benefit and change the world for the better leaving a lasting legacy as well as making investors in the fund great returns.
The Libra Fund Management’s novel approach to investment management is based on the idea that value can be extracted during all phases of a potential asset’s development, construction and operation. Conventional energy funds tend to buy out operating cashﬂow positive assets and in doing so end up paying for the developer’s, consultant’s, contractor’s and broker’s proﬁts leaving little to no space for added value. Libra Energy Management brings exceptional technical acumen to the table in order to develop potential assets after carrying out in-depth techno - economic studies, value engineering and efﬁcient operations techniques and methodologies. Our aim is to deliver high - performing clean power infrastructural projects and paying developer’s prices to do so, effectively increasing yields and generating real tangible value.
The Libra Energy Management’s investments will be focused in what we perceive are the world’s fastest growing and stable markets, namely the GCC, Southeast Asia, and East Africa. Off-takers of produced energy will be restricted to either sovereign governments or high creditworthy multinational companies. These markets will be addressed by funds raised into different LP’s that will target opportunities developed by Libra Energy Management to the shovel-ready stage of maturity. These opportunities will fall into the below categories.
Libra Energy Management intends initially to target a portfolio of assets up to a capacity of approximately 50MW for the ﬁrst investment phase (the ﬁrst LP), and 150MW for the second phase (subsequent LP’s), numbers are however subject to change based on project opportunities and fundraising ability within the separate LP’s. Each LP will be construed keeping in mind exposures to Off-Takers, Technology and Market Dynamics with Libra Energy Management ensuring the right mix of assets designed to mitigate risk and create value through higher-than-market yields.
Our Current Projects
Please see our current projects - We have many more awaiting investment.
14.8 MW Hydro-Electric Power Station.
Electricity production in Palawan is entirely diesel/bunker fueled and is served by ﬁxed and temporary generation facilities, many of which are very old. Current demand on the Palawan backbone grid is approximately 26MW at peak and is forecast to continue growing both over the short and long-term. There is now a strong economic case for developing the Langogan scheme in order to reduce substantial government subsidies in fuel costs, supported by the environmental beneﬁt of reduction of greenhouse gasses (GHG) emissions through substitution of renewable energy. PALECO, the distribution utility operating in Palawan, has executed an Electricity Supply Agreement (ESA) with LPC in September 2015 for both the Langogan 6.8MW HEPP and the following Narra 8.0MW HEPP, with a contingency for the later Aborlan 3.5MH HEPP Initial electricity supply is planned for 2018. For more information please download our factsheet.
Waste Heat Recovery Power Station in
Fujairah - United Arab Emirates.
Waste heat recovery technology will be used to capture flue gasses from a 6000tpd cement plant in Fujairah to generate 8 MW of electricity. The project will convey substantial benefits to the local economy as currently, Fujairah has a power capacity deficit of over 300 MW which significantly delays growth projects due to lack of available power. Furthermore, the system will contribute to significantly mitigate and offset the plant’s greenhouse gas emissions as well as the company’s cost per ton of clinker. The off-taker is a well known and established multinational company with over 150 years history in the cement industry and a spotless credit rating (S&P A-2). For more details please download our factsheet
30 MW Solar Project.
Under Renewable Purchase Obligation program (RPO), Government mandates the minimum percentage that large power consumers need to purchase from renewable energy (RE) source and has been put in place promote the RE sector. Cement factories in India, as part of the RPO program, are mandated to source 0.5% of their energy from renewable energy sources. The investments are guaranteed under the RPO program so that in the event that the consumer stopping its activity, the power will still be purchased by the local utilities. For more information please download our factsheet.
80 MW Wind Project.
Details to follow - Watch this exciting space.
Numbers at a Glance
The Energy fund will be structured in Luxembourg
Annual Management Fee
Extendable to 12
6% targeted income per annum
80 / 20 On capital gains
10% of Company income to go to Libra Project foundation.
To be applied into non-profit projects
50 Million Lives
Our Foundation project is to deliver a positive impact over ten years, delivering sustainable projects to provide clean electricity, clean water and healthy food in areas where it is most needed.
Download our factsheet
If you would like more Information about our fund.
Libra Project Asset Management Team
Worldwide experts driving change forward.
Chief Executive Officer
With over twenty-three years in the motion picture industry, Hans has worked in a number of international cities around the world, including Los Angeles, Paris, Tokyo, Seoul, Jakarta, and Montreal.
He was recently the founding Managing Director and Film Commissioner of the Quebec Film and Television Council. Under his nine-year stewardship, the QFTC generated over $1.5 billion in inward investment with titles such as Smurfs, 300 and Journey to the Center of the Earth 3-D, and companies such as Warner Bros, Disney, and Lionsgate.
Prior to this, Hans was Director of European Operations for Telefilm Canada, the Canadian Federal Film Funding Agency.
Stepping out of the Film industry during the dot-com bubble, Hans was partner and head of European business development with ViaCarla Networks, a web-based software and networking services start-up based in Barcelona. The company successfully raised two financing rounds and became the first European analogue-digital photo-lab ASP.
Mr. Fraikin commenced his career with Twentieth Century Fox International, distributing over 100 feature films including Titanic, Braveheart and the 20th Anniversary digital release of the Star Wars trilogy.
Hans was a Board Member of the AFCI (Association of Film Commissioners International), and his Industry awards include Twentieth Century Fox’s Best Worldwide Marketing Campaign for Teenage Mutant Ninja Turtles, and an Industry Box Office Record for ID4: Independence Day.
Presently, Hans is the CEO of start-up ProdCo Madrigal Pictures. He is also a regular guest-lecturer at the HEC (Haute Études Commerciales) MBA program and is a Board Member of the Canadian Business Council of Abu Dhabi.
Chief Financial Officer
Rajiv Shah is a Chartered Accountant with over twenty-one years of professional experience including fourteen years in the UAE. Rajiv has worked for eleven years at Deloitte (A. F. Ferguson) Consulting, six years as Group General Manager and Group CFO for a leading diversified group in the UAE. He has been an entrepreneur in Financial Advisory for the past four years.
Rajiv’s experience cuts across diverse industries including Impact Investments, Finance, Investment Banking, Banking, Real Estate and Property Management, Healthcare and Wellness, Legal Services, Government entities, Construction, Contracting, MEP Contracting, Manufacturing, AgriTech, Trading, Architectural Consulting, Management Consulting, Information Technology, Brokering, Entertainment, Beauty and Wellness, Retail, Breakthrough Technologies, and Restaurants.
Rajiv specializes in identifying investment opportunities, carrying out the A-Z of the investment process from feasibility studies, business plans, project reports, due diligence, valuation, negotiations, closing deals, incubating businesses, business strategy and leading corporate governance to ensure the success of the Investments.
Rajiv has been involved in raising over $350 million in funds, in addition to being involved in investment decisions upward of $300 Million.
An avid squash player, Rajiv is an author of a fiction novel and is a regular speaker at professional events.
Chief Operations Officer
A hands-on business leader, graduate of the George Washington University (DC), with over twenty years of multicultural and international exposure in the Finance and Renewables industry, across the United States (US), Europe, Middle-East and Asia.
He has collaborated with investment banks in the European Union (EU) and US (i.e. Bear Sterns, Meryl Lynch, Royal Scandia), while he simultaneously developed, built and managed RES assets and networks in SE Europe for the past decade.
Project Director & Founding Partner
A renewable energy veteran with over ten years of international experience and over fifty MW of projects developed, installed and delivered on a wide range of diverse technologies ranging from solar to geothermal CoGen Systems. Alexander has collaborated with blue chip companies such as Lafarge-Holcim, JK Group, IHG and Accor International leading energy efficiency and water efficiency/recovery projects.
· Developed over 30 MW of Solar plants in Greece.
· Designed the first geothermal cogeneration plant in Greece.
· Designed a 6000,3/day desalination system for one of the UAE’s leading marquee landmarks.
· Developed over 12 MW of waste-heat recovery projects for Lafarge-Holcim.
The Board of Directors
A world class team of experience.
Chairman of the Board of Directors & Founding Partner
Terence L. Bolden is an entrepreneur and has successfully been a partner or sole owner of five successful startups including the pioneering company, SebaiCMET, Incorporated. SebaiCMET was the first company in the US to successfully test a Marine Hydrokinetic Energy system on the floor of the ocean in the US in 2009. Terence has more than twenty-eight years of experience in the management of multi-million-dollar capital improvement projects as well as grants administration for large government programs including Brownfields and large subdivisions and housing developments totaling more than $500 million in value. Terence has negotiated agreements with NASA, the Kennedy Space Center, Smart City Dubai, the Florida Institute of Technology, Masdar Institute of Technology and the Conrad Foundation totaling millions of dollars in contractual obligations.
Terence has been at the forefront of combined technological and design solutions to spur sustainable development for Solar, Wind and Ocean Energy projects as well as food production technologies. Over the course of his career, he has dedicated his talents toward environmentally sustainable work that target big human need areas such as food, water, energy and housing programs. He has worked on 5 continents and is a well-respected international business expert based in Dubai of the United Arab Emirates. He is also the principal stakeholder in two companies in the United States that develop technologies for renewable energy and water as well food solutions. He also is the head of a successful consulting business under the umbrella of his holding company, TLB Enterprises Group Holding.
A certified in Construction Inspector through Texas A & M Extension Service and a certified Grants Administrator, with a background and degree in organizational management, he is a recognized expert in the area of environmental sustainability projects. He serves on the Board several organizations that spanning aviation and aerospace educational and career opportunities for young people to renewable energy technologies. Terence owns the distributorship rights for food solutions in six East and West African countries marketing an innovative technology that can produce an acre of food in three hundred and twenty square feet of space utilizing a food container system. Terence has worked on projects to secure funding through IRENA, the US Department of Energy, US Housing and Urban Development, US Environmental Protection Agency and the US Import/Export Bank as well as private funding partners over the years.
Vice Chairman of the Board of Directors.
Peter C. Fusaro is a best-selling author, keynote speaker and thought leader on emerging energy and environmental technology and financial markets. Peter is Chairman of Global Change Associates, an advisory firm in New York City, and is the bestselling author of What Went Wrong at Enron as well as fifteen other books on energy and the environmental financial markets. He has been on the forefront of energy and environmental change for over forty years focusing on how to use energy more efficiently and in an environmentally benign manner. His current focus is on environmental financial market acceleration focuses on low carbon economy through sustainable finance in renewable energy, clean technology, and carbon finance. Peter was a partner in Energy & Environment Capital Partners, a cleantech venture capital fund in 2002-2003. His focus today is on accelerating renewable energy development and energy efficiency deployment for the transition to a clean energy economy.
Peter was previously Senior Vice President and Head of Energy Consulting at ABB Finance Services, Principal Analyst for Petroleos de Venezuela (USA) Corp, Senior Policy Analyst in the NYC Mayor’s Energy & Telecommunications office and held several policy positions in the US Department of Energy in Washington D.C.
Peter’s latest book was published in May 2010 by Oxford University Press in Energy and Environmental Project Finance Law and Taxation: New Investment Techniques. Peter has been selected for Who’s Who in America for 2007-2017 and Who’s Who in the World for 2009-2017. He coined the term “Green Trading” and holds the annual Wall Street Green Summit in New York XVI each spring (www.wsgts.com) which focuses on energy efficiency, renewable energy, clean technology and impact investing.
Peter graduated with an MA in international relations from Tufts University and a BA from Carnegie-Mellon University. Peter has been an adjunct professor at Columbia University where he taught a renewable energy project development and finance course each fall semester. He is on the advisory board of Bard College’s MBA in Sustainability and was on the External Advisory Board of the ERB Institute for Global Sustainable Enterprise, Ross School of Business, at the University of Michigan for eight years.
Secretary of the Board of Directors
Richard Kupisz has more than thirty years of experience in consultancy and investment banking, advising governments, private investors and international development organisations on policy, strategy, and investments. Throughout his career, he has focused on developing countries and emerging markets in the Middle East, Africa, Asia-Pacific and Eastern Europe. He is a recognized expert on public-private partnerships (PPPs) and privatizations in emerging markets and was on the review panel for the 2016 PPP Body Of Knowledge sponsored by the World Bank, the Asian Development Bank, and other international organisations. Richard has advised on PPP/privatization strategies and transactions covering more than 250 organisations, with a focus on energy, ICT, water, and transport.
An economist by training, Richard is currently Global Head of Utilities and Infrastructure for Maxwell Stamp, an economics and strategy consultancy, and Chief Executive of Maxwell Stamp's Saudi Arabian practice. His previous experience includes working at global blue-chip companies (KPMG Consulting, NatWest Markets and CIBC World Markets) as well as more focused organisations (IPA Energy+Water Economics, Overseas Development Institute).
Founding Partner & Member of the Board of Directors
With ten years working in the financial industry, James is the Assistant Vice President of Globaleye based in Abu Dhabi, UAE, and is a member of the Chartered Insurance Institute. Globaleye is one of the largest Independent Financial brokerages in the world, with offices in Hong Kong, Singapore, Australia, USA, Switzerland, Russia and the Middle East with over 1.2 billion USD under management. James himself manages over 40m USD on behalf of his private clients.
As a wealth manager, James has been investing in the renewables space for a number of years and is passionate about leading the financial markets towards an Impact Investment Model.
James is a member of the Royal Engineers Association in the middle east (REAME) which is the largest REA group outside of the UK, as a former Bomb Disposal operative in the British Army, James spends much of his time as part of a support group for ex-servicemen. As part of James' charity work, he has run 35 marathons and even climbed to base camp Everest, raising hundreds of thousands for various charities around the world.
Member of the Board of Directors
Ennis Leon Jacobs, Jr. has practiced law in Tallahassee, Florida since 1987, with an extensive and lengthy background in both the private and public sectors. He specializes in energy, administrative, environmental, estate, trust, guardianship and public utility law. He is a graduate of Florida A&M University, with a Bachelor's Degree in Technology and Data Processing.
In his first career, Mr. Jacobs worked in information technology at the Eastman Kodak Company in Rochester, NY, and at the RCA Corporation in Cherry Hill, NJ. He later pursued and was awarded a law degree from the Florida State University College of Law, after which he served as staff counsel at the Florida Public Service Commission, as Assistant Attorney General at the Florida Attorney General’s Office, and as Staff Counsel with the Florida Legislature.
In 1998, Governor Lawton Chiles, Sr. appointed Mr. Jacobs to serve on the Florida Public Service Commission, for a term lasting from 1998 until 2002, including service as Chairman in 2001. During his tenure, Mr. Jacobs served as on the Board of Directors of the National Association of Regulatory Utility Commissioners (“NARUC”), and also as President of the Southeast Association of Regulatory Utility Commissioners. He further served as Chairman of the NARUC Committee on Consumer Affairs, on the NARUC Committee on Electricity, and on the Governor’s Florida 2020 Energy Task Commission. Subsequently, Mr. Jacobs was appointed by Governor Charlie Crist to serve as a member of the Florida Elections Commission.
After leaving government service, Mr. Jacobs has represented the Natural Resources Defense Council, The Sierra Club, the Southern Alliance for Clean Energy and the Florida Solar Energy Industries Association in court and before regulatory agencies on issues related to clean energy, and presently serves as a member of the Board of Directors of the Southern Alliance for Clean Energy, Inc. He has additionally served as legal counsel to SebaiCMET, Inc., a developer of ocean energy technology.
Leon is a Certified Circuit Civil Mediator in Florida.
Our Advisory committee is passionate about creating change.
Brandi Colander is the Associate Vice President of Natural Resources and Energy at the National Wildlife Federation (NWF). Prior to joining NWF, Colander served as the Deputy Assistant Secretary to the Assistant Secretary for Land and Minerals Management at the United States Department of the Interior. In this role, she advanced regulations for the nation’s four energy development bureaus. Before receiving her Presidential Appointment to the Department, Colander worked at a young start-up company, Opower, as their Director of Market Development and Regulatory Affairs managing a regional team to expand their market in the Northeast and Canada.
Colander began her career in public service as the Deputy General Counsel for the White House Council on Environmental Quality (CEQ). CEQ is charged with upholding the tenets of the National Environmental Policy Act and facilitating interagency coordination among federal agencies in the development of environmental and energy policies and initiatives. During this time she advised principals and staff on legal aspects of CEQ actions, statutory and regulatory interpretations, drafted Executive Orders and Presidential Memoranda in coordination with cooperating agencies, represented the Council in advancing the Administration’s infrastructure efforts set forth in the President’s Executive Order, and assisted in the resolution of interagency disputes regarding energy, the environment and natural resources.
Prior to joining the Executive Office of the President, Colander was an attorney with the Natural Resources Defense Council (NRDC), an international environmental non-profit with over 400 scientists, attorneys and 1.3 million members headquartered in New York City. Working with NRDC’s Air & Energy group, her expertise in energy policy focuses on industry restructuring and utility regulation, energy efficiency, the “smart grid” and renewable energy programs – specifically offshore wind. In this role, Colander also served as the project manager of the Facebook/NRDC/Opower social energy initiative to enhance energy literacy and influence energy consumption behavior and greenpowernyc.com, a website developed to enable New York City resident to purchase renewable energy through renewable energy credits.
Colander earned her Master’s degree at Yale University, Juris Doctor at Vermont Law School and Bachelor’s degree from the University of Virginia. She serves on the board of Yale University ‘s School of Forestry and Environmental Studies.
Outstanding world wide legal guidance.
P.V. Sheheen - Managing Partner
Lawyer, Goodwins Law. Member of the Advisory Committee
Managing Partner of Goodwins Law Corporation, a prominent Corporate Lawyer living in the United Arab Emirates for more than twenety-five years. Sheheen has fifteen years experience with another law firm and has currently spent five years as a Managing Partner with Goodwins Law. Sheheen is heading a team of legal professionals from different jurisdictions and has wide exposure to all practical aspects of corporate/commercial laws in the UAE. He has advised a range of international and locally based corporate clients, financial institutions and public bodies on a variety of corporate projects and finance matters in the United Arab Emirates.
Sheheen has been advising number of banks, multi-national companies, national conglomerates, airlines, embassies, insurance companies and government departments in UAE on a regular basis. He heads a team of legal experts having in-depth knowledge in all practical aspects of corporate/commercial laws in the United Arab Emirates, which includes Civil and Commercial Transactions, Construction, Intellectual Property, as well as Arbitration Rules of International Chamber of Commerce and Regional Arbitration Centres. In addition, he has in-depth knowledge of Islamic Shariah from the authentic sources of Qu’ran and Hadith.
Lawyer, Squire Patton and Boggs. Member of the Advisory Committee
Former US Secretary of Transportation, Rodney E. Slater, helps clients integrate their interests in the overall vision for the transportation system of the 21st Century – a vision he set as Transportation Secretary to promote a safer, more efficient, environmentally sound and sustainable worldwide transportation infrastructure. Secretary Slater also assists state and local government clients address the vexing challenge of closing the gap between transportation demand and capacity by employing public/private strategies and innovative financing solutions. Secretary Slater’s practice focuses on many of the policy and transportation objectives that were set under his leadership, including automobile use and development, aviation competition and congestion mitigation, maritime initiatives, high-speed rail corridor development, and overall transportation safety and funding. He continues to embrace the framework he established as Secretary for making transportation decisions that called for more open, collaborative and flexible decision-making across the transportation enterprise in the United States and abroad.
Who's Talking About Us
Take a look and enjoy!
Peter Fusaro on Renewable Energy.
See Peter Fusaro on TED talks.
Peter Fusaro speaking at Cambridge Investment Research.
The End of Energy as we know it by 2030.