Ditrolic Energy Holdings Sdn. Bhd. (“Ditrolic Energy”) has entered into an agreement with global asset management company BlackRock’s Climate Finance Partnership (“CFP”), its flagship public-private finance vehicle, to back Ditrolic Energy’s expansion to build commercial and industrial (C&I) and utility-scale solar assets throughout emerging markets in Asia Pacific.
Read also – Singtel Collaborates with Google to bring Rich Communication Services
CFP is a unique partnership among BlackRock and the governments of France (AfD), Germany (KFW) and Japan (JBIC) through their respective development finance institutions, as well as leading US impact organizations. CFP brings together public, private and philanthropic sectors to mobilize significant blended capital into climate infrastructure, targeting investment in non-OECD countries across Asia, Latin America and Africa.
Read also – Singtel Collaborates with NVIDIA to bring AI to Singapore and Southeast Asia
Tham Chee Aun, Founder and Group CEO of Ditrolic Energy, said: 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 maximise value to support transition to low carbon economies throughout multiple markets. With the capital raised and private investment to be mobilised, Ditrolic Energy would be in a prime position to undertake key energy transition projects in Malaysia and other Southeast Asia countries.”
Read also – Singtel Advances AI development in Singapore
The partnership seeks to facilitate realization of Ditrolic Energy’s targeted 1 GW+ pipeline of solar projects, increasing Ditrolic Energy’s targeted total capacity to 5GW+ pipeline of solar projects in Malaysia, Bangladesh, Indonesia and the Philippines, as well as investment and expansion of its flagship 360° Clean Energy Solution, EnerLoop, by enabling technology for Carbon Tracking, Battery Energy Storage System and Green Electricity Sales.
Read also – Animoca Brands and LightLink Partner to Enhance Web3 Gaming Experiences
With this new partnership, Ditrolic Energy intends to make Malaysia its investment hub to actively invest into key energy transition projects around its approved markets in the Asia Pacific region including Malaysia’s National Energy Transition Roadmap (“NETR”) programme where Ditrolic Energy plans to mobilise significant amounts of capital private investment with the aim to accelerate and reduce the associated cost of energy transition for the country.
Read also – Singapore-based Silverstrand Capital Invests in Porifera
Valerie Speth, APAC Co-Head of Climate Infrastructure, BlackRock, said: “Ditrolic Energy holds a proven solar development track record in this diverse region. Our partnership presents an attractive opportunity to mobilise more capital into climate infrastructure in emerging markets and accelerate national ambitions to achieve net zero economies.”
Read also – Vietnam-based Vingroup Plans to Invest in the Philippine Market
About Ditrolic Energy Holdings
Founded in 2009, Ditrolic Energy is one of the largest renewable energy developers in Malaysia and Southeast Asia and runs a fully-integrated value chain from project development, financing, engineering and construction through to operations and maintenance (O&M) and asset management.
Read also – Higlobe Partners With Triple-A
About BlackRock Private Markets
BlackRock’s private markets platform serves investors seeking outperformance in infrastructure, private debt, private equity, real estate and multi-alternatives solutions. As of December 31, 2023, BlackRock manages US$327 billion in liquid and illiquid alternative investments and commitments on behalf of clients worldwide.
Read also – Zora Health Raises US$740K Funding
