New renewable fund to raise $2.5 billion for Southeast Asia’s recovery from pandemic

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.

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