Pentagreen, UK gov't invest $107m to accelerate Southeast Asia power projects

It seeks to initially unlock the implementation of approximately US$300m of projects.

HSBC and Temasek’s sustainable infrastructure debt financing platform, Pentagreen Capital, and British International Investment will jointly finance $107m (US$80m) to accelerate the rollout of utility-scale solar and battery storage projects across Southeast Asia.

The joint investment will finance the development and construction of solar, hybrid solar, and battery storage projects in the Philippines, Indonesia, and other eligible geographies.

It seeks to initially unlock the implementation of $401.7m (US$300m) worth of projects with a total capacity of circa 260 megawatt peak (MWp) of power generation capacity and circa 175 megawatt hours (MWh) of battery storage.

The first project to be supported is a circa 100 MWp solar power project in the Philippines. Pentagreen will provide crucial mezzanine financing, enabling the project to progress swiftly into construction.

This is in collaboration with the international renewable energy development platform ib vogt Singapore Private Limited.

($1=US$0.74)