Investment to Unlock $300M in Renewable Projects and Cut 257,000 Tonnes of CO2 Annually

In a significant boost for renewable energy in Southeast Asia, Pentagreen Capital—a sustainable infrastructure financing platform backed by HSBC and Temasek—has teamed up with British International Investment (BII) to launch an $80 million financing facility. This initiative, in collaboration with ib vogt Singapore, aims to catalyze utility-scale solar and battery storage projects across the region, driving the transition towards a low-carbon economy.

The financing is expected to unlock $300 million worth of clean energy projects in the Philippines, Indonesia, and other eligible markets, delivering approximately 260 MWp of solar power and 175 MWh of battery storage. The first project under this initiative is a 100 MWp solar power facility in the Philippines, providing critical mezzanine financing to accelerate construction and mobilize additional senior debt from HSBC.

Strategic Investments for a Greener Future

This funding aligns with Southeast Asia’s growing clean energy needs, supporting countries with strong renewable potential and supportive regulatory frameworks. Marat Zapparov, CEO of Pentagreen Capital, emphasized the impact of innovative financing in scaling sustainable infrastructure:

“This landmark partnership demonstrates that innovative financing has a significant role to play in catalyzing capital for critical renewable infrastructure. Indonesia and the Philippines have been identified as the initial markets due to their strong renewable energy potential, regulatory support, and rising demand for clean power.”

The projects under this financing facility will deliver approximately 400 GWh of clean electricity annually, significantly enhancing grid stability while avoiding the release of 257,000 tonnes of CO2.

Global Partnerships Driving Climate Action

British High Commissioner to Singapore, Nik Mehta, underscored the UK’s commitment to climate finance, stating:

“The UK is committed to mobilizing the capital and partnerships needed for a more prosperous, low-carbon future. This initiative will drive sustainable growth, create jobs, and unlock new market opportunities in the region.”

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BII’s Regional Head for Southeast Asia, Rohit Anand, further highlighted the strategic importance of this collaboration:

“This partnership with Pentagreen and ib vogt underscores our strong commitment to enhancing climate finance and mobilizing more capital for sustainable development in Southeast Asia, particularly in high-need markets like the Philippines and Indonesia.”

Utility-Scale Solar and Battery Storage: A Game Changer

The integration of battery storage solutions in these projects is a critical step in ensuring energy reliability, particularly during non-generation periods. David Ludwig, CEO of ib vogt APAC, emphasized the importance of scalable financing solutions:

“Our team is deeply passionate about accelerating the energy transition. The significant financing volumes required for this region will increasingly depend on innovative solutions like this facility. This partnership is a crucial step in implementing our growing pipeline of late-stage projects.”

As Southeast Asia navigates its energy transition, partnerships like this set a strong precedent for blending private capital, public support, and innovative financial mechanisms to drive climate action at scale.

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