Switzerland-based investment firm responsAbility will provide up to $25 million in non-recourse project financing, on behalf of its investors, to support the expansion of Verdant Energy’s solar portfolio in Thailand.
The transaction forms part of responsAbility’s $500 million climate investment strategy for Asia, a private debt strategy focused on climate infrastructure across emerging and developing markets and supporting scalable private-sector infrastructure solutions that contribute to decarbonization, responsAbility said in a statement on Wednesday.
Headquartered in Singapore, Verdant Energy develops, constructs, owns and operates renewable energy assets across Southeast Asia, with offices in Thailand, Vietnam, and the Philippines.
“This transaction is fully aligned with responsAbility’s strategy of supporting scalable renewable energy companies that contribute to decarbonisation while addressing growing energy demand in emerging markets,
“Verdant’s strong execution track record, scalable business model, and presence in Thailand, a market with attractive renewable energy growth prospects, make it a compelling partner for advancing clean energy deployment in the region,” said Jay Bathija, Principal, Climate Infrastructure Investments at responsAbility.
Alan Yau, Chief Executive Officer of Verdant Energy, said Southeast Asia is at the forefront of the global energy transition, driven by rapid economic growth and increasing demand for reliable, affordable and sustainable power.
“At Verdant Energy, our vision is to be a leading regional renewable energy platform by partnering with governments, customers, and capital providers to accelerate the deployment of high-quality clean energy infrastructure,
“This collaboration with responsAbility further strengthens our financial capacity to scale our portfolio and contribute meaningfully to the region’s decarbonization journey,” he added.
Sivaramakrishnan Sreedharan, Chief Investment Officer of Verdant Energy, said access to long-term, flexible project capital is essential to scaling renewable energy infrastructure.
“This facility enables us to accelerate the delivery of bankable projects while maintaining the disciplined investment and risk management principles that underpin Verdant Energy’s growth strategy across Southeast Asia,” he added.
ResponsAbility said this facility underscores its commitment to deploying capital from its $500 million Climate Investment Strategy for Asia, which is dedicated to accelerating decarbonization across emerging and developing markets in the region.
By backing scalable platforms such as Verdant Energy, the firm aims to support the build-out of critical renewable energy infrastructure while mobilizing private capital towards Asia’s energy transition.