Pentagreen Capital and British International Investment (BII) have teamed up in a joint USD80 million financing initiative aimed at accelerating the rollout of utility-scale solar and battery storage projects across Southeast Asia, with a focus on the Philippines. The partnership, announced on Wednesday, sets aside approximately 50 percent of the funds to the Philippines, where they collaborate with renewable energy platform ib vogt Singapore Pte. Ltd.
The first project to receive funding is the 100-MW solar power project in the Philippines, although details remain undisclosed as the facility has not yet broken ground. The financing facility is designed to support the development and construction of renewable energy projects in the Philippines, Indonesia, and other Southeast Asian markets, targeting a total capacity of 260 MW and up to 175 MWh of battery storage.
This partnership is expected to have significant commercial and environmental impact, with an estimated 257,000 tons of carbon dioxide emissions avoided. The project highlights the growing role of innovative financing in accelerating clean energy infrastructure, particularly in regions with strong renewable energy potential like Southeast Asia. As demand for sustainable power grows, this initiative aims to address energy security while fostering economic growth in the region.
Marat Zapparov, CEO of Pentagreen, cited the importance of such partnerships, noting their potential to catalyze the rapid development of renewable energy in Southeast Asia, with Indonesia and the Philippines as key markets.
