Malaysia’s Ditrolic Energy secures BlackRock’s financial support

The partnership aims to develop over one gigawatt of solar projects.

BlackRock’s Climate Finance Partnership and Malaysia-based renewable energy developer Ditrolic Energic entered an agreement to boost industrial and utility-scale solar assets in emerging markets in Asia.

In a statement, BlackRock said the partnership will involve the deployment of one gigawatt of solar projects in Malaysia, Bangladesh, Indonesia and the Philippines, providing power to around 52,000 consumers.

The project can reduce around 2.7 million tonnes of carbon dioxide emissions and provide job opportunities to around 3,500 people.

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“We are committed to playing a key role in Asia’s energy transition. We are grateful for BlackRock’s support because the investment in Ditrolic Energy enables us to rapidly increase scale and maximise value to support the transition to low carbon economies throughout multiple markets,” said Ditrolic Energy Founder and Group CEO Tham Chee Aun.

The Climate Finance Partnership is a partnership amongst BlackRock, and the governments of France, Germany and Japan, securing total commitments of $673m from various investors.