SG’s clean energy initiative receives $67.3m investment from AUS
The initiative aims to support clean energy transition across Southeast Asia.
The Green Investments Partnership (GIP) under Singapore’s Financing Asia’s Transition Partnership (FAST-P) initiative has received a $67.3m (US$50m) investment from the Australian government.
The initiative was launched by the Monetary Authority of Singapore in 2023 to support clean energy transition and sustainable infrastructure development across Southeast Asia.
Australia’s investment, administered by Export Finance Australia, is the first investment under its government’s $1.7b (A$2b) Southeast Asia Investment Financing Facility.
Singapore will pledge up to $672m (US$500m) as concessional capital, to match dollar-for-dollar, concessional capital from other partners, including other governments, multilateral development finance institutions and philanthropies.
Moreover, Pentagreen Capital will manage FAST-P’s GIP and deploy capital to projects including renewable energy and storage, electric vehicle infrastructure, sustainable transport, and water and waste management.
($1=US$0.74)