In the late 1950â??s and early 1960â??s, the modern technology sector began its life. Unfortunately, the innovation was there, but the capital market funding wasnâ??t. So, in 1961, Arthur Rock raised $3.5 million from 25 limited partners and formed a venture capital fund. The rest is history. A similar void and opportunity exists today in the world of project finance. To put it simply: thereâ??s very little financing available for projects that employ new technology in the fast-moving and fast-growing renewable energy sector. Itâ??s true that the government is helping to fund projects in this area, but public-sector money, on its own, is hardly a long-term solution. To supplement and solidify these efforts, I believe we need to create the equivalent of a junk bond or venture capital market for renewable energy project finance.

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