A new renewable energy fund plans to invest over $2.5 billion in Southeast Asian renewable energy projects to support the region’s recovery from the pandemic, with a focus on the Philippines, Vietnam and Indonesia.
According to South East Asia Clean Energy Facility (SEACEF), the fund will offer high-risk venture capital-type funding initiative to fill the gap in financing early stage clean energy projects in the region. Early-stage investment will support the development of solar and wind facilities and energy storage, as well as technologies accelerating low carbon transition, such as energy efficiency and clean-energy transmission infrastructure. Currently, an initial $10 million has been injected into SEACEF, with an additional $40 million due shortly.