The transaction will see SUSI participate in the buildout of a regional utility-scale renewables platform with a focus on the Philippines while supporting Alba’s broader growth plans across Southeast Asia.
SUSI’s investment will focus on funding the construction of designated projects over the next 24 months and enables Alba to upscale their development activities and operational capacity.
Benefitting from Alba’s longstanding renewable energy development experience, SUSI’s investment expertise, as well as both parties’ strong regional networks, the partnership is well positioned to quickly reach significant scale, which is a crucial requirement in the context of the energy transition in Asia.
Over the next 24 months Alba is targeting to construct over 150 MW of solar and bring another 300-500 MW of wind and solar projects through to late-stage development.
The investment with Alba further accelerates SAETF’s capital deployment, which, in combination with the strong project pipeline, has prompted a re-opening of the Fund until September 2024.
The Fund’s current portfolio consists of six investments with exposures well diversified across themes that are central to the energy transition in Asia, including utility-scale renewable energy, rooftop solar PV for commercial and industrial clients, and energy efficiency.
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