Pentagreen Capital, the sustainable infrastructure debt financing platform established by HSBC and Temasek, in collaboration with British International Investment (BII), has announced a joint financing initiative of $107 million (US$80 million) to accelerate the deployment of utility-scale solar and battery storage projects across Southeast Asia.
This strategic investment will fund the development and construction of solar, hybrid solar, and battery storage projects in key markets, including the Philippines and Indonesia, and other eligible regions. The initial objective is to facilitate the implementation of projects valued at $401.7 million (US$300 million), with a combined power generation capacity of approximately 260 megawatt peak (MWp) and battery storage capacity of around 175 megawatt hours (MWh).
The inaugural project supported by this financing is a 100 MWp solar power project in the Philippines. Pentagreen Capital will provide essential mezzanine financing, enabling the project to rapidly advance into the construction phase. This initiative is being executed in partnership with ib vogt Singapore Private Limited, an international renewable energy development platform.
This collaboration underscores the commitment of Pentagreen Capital, BII, and HSBC to driving sustainable energy solutions and supporting the energy transition in Southeast Asia. By providing critical financing, these organizations aim to unlock significant renewable energy capacity and contribute to the region’s decarbonization efforts.
