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INFRONT and Dolma Impact


Nepal is starting to exploit its mountain geography to generate more hydro and solar power – and put an end to regular blackouts that cripple the economy. Dolma Impact Fund, the country’s first international private equity impact fund, sees an opportunity to help accelerate this transformation.

The mentorship

INFRONT paired Tim Gocher, who leads Dolma Impact Fund, with Ron Dizy, Managing Director of the Advanced Energy Centre (AEC) at MaRS Discovery District in Toronto. The mission of the AEC is to foster new clean technologies in Canada and share those breakthroughs in international markets. “Ron is an expert on global power markets, especially in emerging and challenging markets, so his experience was very important to us,” says Tim. Over the course of several calls and an in-person meeting at Dolma’s offices in Kathmandu, Tim and Ron discussed the development of hydro and solar markets in Colombia, Chile and India, as well as investment opportunities in Nepal. “There is abundant hydro power potential and the Himalayas is the highest solar radiation area in the world,” says Tim. “There’s potential to bring clean energy to everybody, using the natural resources of the region.” Ron shared his experiences of working with governments, regulators, investors and renewable energy developers to get all the actors in the market to align around a common goal. The mentorship also provided an opportunity to share best practices and helped Tim benchmark Nepal against the Canadian energy system – a process he calls “invaluable.”

The outcome

The mentorship led to a collaboration between Dolma and the AEC to write a Going Global report on the renewable energy market in Nepal (available on The report has led to Dolma having meetings with pension funds in Canada, system operators, utilities and power stations. In all, the mentorship has helped Tim better position Dolma to successfully raise a second fund.

Why mentorship matters

About Dolma Impact Fund

Based in Kathmandu, Nepal, Dolma Impact is a $26-million fund that focuses on Himalayan nations. It invests in renewable energy, agriculture, health, tourism, financial inclusion and education.

The mentee

Tim Gocher is CEO and Founder of Dolma Impact Fund. He is also Chairman and Founder of the non-profit Dolma Foundation that runs community-driven tourism projects in Nepal, and supports education for low-income families. He is also Honorary Professor of Sustainable Business at the University of Nottingham. He was formerly Managing Director at Interregnum investment bank.

The mentor

Ron Dizy is Managing Director of the Advanced Energy Centre at MaRS Discovery District in Toronto. He works with public and private
sector partners to assist utilities, users and innovators to adopt new technologies faster and drives international opportunities for Canadian companies. He was previously President and CEO of Enbala Power Networks, a smart grid technology firm.