BlackRock’s Climate Finance Partnership provides investment support to real estate developer Ditrolic Energy
The Climate Finance Partnership (CFP), a prominent public-private financing vehicle of global asset management company BlackRock, has provided investment support to Malaysian renewable energy (RE) developer Ditrolic Energy Holdings Sdn. Bhd.
The two parties have reached an agreement whereby CFP will support Ditrolic Energy’s expansion to develop utility-scale and commercial and industrial (C&I) solar assets throughout emerging markets in Asia Pacific, the company said in a statement on Wednesday.
In addition to raising Ditrolic Energy’s targeted total capacity to 5GW+ pipeline of solar projects in Malaysia, Bangladesh, Indonesia, and the Philippines, the partnership aims to facilitate the realization of the company’s targeted 1 GW+ pipeline of solar projects. It also plans to invest in and expand EnerLoop, its flagship 360° Clean Energy Solution, by enabling technology for Carbon Tracking, Battery Energy Storage System, and Green Electricity Sales.
With this new partnership, Ditrolic Energy hopes to establish Malaysia as its investment hub, actively investing in important energy transition projects around its approved markets in the Asia-Pacific region. One such project is Malaysia’s National Energy Transition Roadmap (NETR) program, through which it hopes to raise substantial amounts of capital private investment in order to lower and accelerate the associated costs of the nation’s energy transition.
“We are committed to playing a key role in Asia’s energy transition. We are grateful for BlackRock’s support because the investment in Ditrolic Energy enables us to rapidly increase scale and maximize value to support the transition to low-carbon economies throughout multiple markets,
“With the capital raised and private investment to be mobilized, Ditrolic Energy would be in a prime position to undertake key energy transition projects in Malaysia and other Southeast Asia countries,” said Tham Chee Aun, Founder and Group Chief Executive Officer of Ditrolic Energy.
Ditrolic Energy, which was established in 2009, is a prominent renewable energy developer in Malaysia and Southeast Asia. The company offers a comprehensive value chain that encompasses project development, financing, engineering, construction, operations and maintenance (O&M), and asset management.
As of right now, Ditrolic Energy is building more than 450MW of solar assets in China, Bangladesh, Malaysia, and other countries in Southeast Asia.
With the help of CFP, Ditrolic Energy is able to establish itself as one of the nation’s top pure-play energy transition businesses.
