The Southeast Asia Clean Energy Facility (SEACEF) has announced investment to Skye Renewables Holdings (Skye) for solar projects.
According to SEACEF, its funding will support Skye in accelerating its deployment of rooftop solar installations and other clean energy solutions in Southeast Asia.
So far, SEACEF has completed six investments in Indonesia, Vietnam, and the Philippines since the fund’s launch in June 2020, the statement reads.
It comes at a time when Skye is working to address the growing demand from commercial and industrial consumers for low-cost clean energy.
According to Skye, it has a set a target to reach at least 300 MWp of rooftop solar installation by 2028 in Southeast Asia. The company already has a strategic partnership with a Japanese energy company Idemitsu Kosan for clean energy projects.
Ross Coull, Chief Executive Officer at Skye Renewables commented, “We are delighted to welcome the team at Clime Capital as our partner in Skye. Their extensive experience in renewable energy in Southeast Asia means that they will bring a lot to our organisation and help us achieve our ambitious goal of decarbonising our clients’ supply chains.”
The Singapore-based fund manager Clime Capital has been supporting the deal.
Mason Wallick, Chief Executive Officer at Clime Capital, was quoted in a statement, “Throughout Southeast Asia, commercial and industrial rooftops remain a largely untapped opportunity to install significant solar energy that will help to advance the low carbon transition now and in the years to come. We are excited to support Skye in fulfilling this potential.”
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