Southeast Asia: Cleantech Solar Secures $70M Green Loan to Expand C&I Solar Projects

Cleantech Solar Asia 2 (CSA 2) has secured a US$70 million five-year term loan facility to support the development of up to 150 MWp of commercial and industrial (C&I) solar energy projects across Southeast Asia. The financing was co-arranged by Singapore-based Clifford Capital and ING, reflecting growing investor confidence in the region’s renewable energy landscape.

The facility also includes a US$30 million greenshoe option, offering the flexibility to scale up funding in support of Cleantech Solar’s broader expansion across the region.

Green Financing to Accelerate Regional Solar Deployment

The proceeds will be used to finance a pipeline of greenfield solar projects across Thailand, Malaysia, Indonesia, Singapore, and Vietnam—markets witnessing rising demand for clean power from industrial and commercial sectors.

Audra Low, Group Head of Client Coverage at Clifford Capital, said the transaction reinforces the company’s commitment to supporting sustainable infrastructure financing in Asia.

“We are pleased to collaborate with ING to advance Cleantech Solar’s rollout of C&I solar solutions across Southeast Asia. This deal exemplifies our continued emphasis on delivering green and innovative financing instruments,” she noted.

Brian Tan, Group CFO of Cleantech Solar, welcomed the loan as a strategic catalyst for regional growth:

“This milestone green financing from ING APAC and Clifford Capital will accelerate the expansion of our C&I solar portfolio across Southeast Asia. It reinforces our dedication to sustainable development and the region’s clean energy transition,” Tan said.

Supporting Southeast Asia’s Clean Energy Goals

With commercial and industrial entities across the region increasingly prioritizing decarbonization, Cleantech Solar’s expanded pipeline is expected to significantly enhance access to renewable power. These projects will contribute to reducing dependence on fossil fuels and advancing net-zero targets for both corporate clients and national governments.

The funding deal adds to the growing momentum in Southeast Asia’s renewable energy movement and positions Cleantech Solar as a key player in the region’s clean energy transformation.