Microsoft invests in SEACEF to bolster renewable energy projects
The investment is made through the company’s Climate Innovation Fund.
Multinational technology company Microsoft has invested in the Southeast Asia Clean Energy Facility (SEACEF) through Microsoft's Climate Innovation Fund, SEACEF announced in a media release.
The investment aims to “accelerate deployment of large-scale and scalable clean energy projects and businesses in emerging markets,” Microsoft said in a separate statement.
“This support will enable us to step up our investments in promising early stage renewable energy projects in Southeast Asia,” SEACEF said.
Launched in June 2020, SEACEF’s focused on pushing market adoption of existing technologies in underfunded markets to enable low-carbon economic development in communities hit by the effects of climate change.
Meanwhile, SEACEF has clinched three investment approvals comprising more than 1 GW of renewable energy capacity in promising projects and businesses, such as: Xurya, an Indonesian-distributed clean energy company; a large utility scale wind project in the Philippines being developed by Highland Infrastructure; and Levanta Renewables, an early stage portfolio of wind power projects in Vietnam.