BlackRock vehicle backs 1-GW APAC solar pipeline for Ditrolic Energy

A vehicle of US investment giant BlackRock (NYSE:BLK) has agreed to back Ditrolic Energy Holdings Sdn Bhd to advance the deployment of over 1 GW of solar projects across emerging markets in Asia Pacific.

Established in 2009, Ditrolic is a Malaysian clean energy solutions provider with a portfolio of more than 450 MW of solar assets in operation and under construction in Malaysia, other Southeast Asia countries, Bangladesh and China.

The Malaysian company will be supported by BlackRock's flagship public-private finance vehicle The Climate Finance Partnership (CFP) which has secured USD 673 million (EUR 620.2m) in capital commitments from a consortium of investors including governments, philanthropies, and institutional investors. The vehicle is operated in partnership with the governments of France, Germany and Japan through their respective development finance institutions, as well as prominent US impact organisations.

The partnership will seek to implement Ditrolic Energy's pipeline of commercial and industrial (C&I) and utility-scale solar projects in Malaysia, Bangladesh, Indonesia and the Philippines. It will also support the expansion of Ditrolic’s flagship 360° clean energy solution EnerLoop by enabling technology for carbon tracking, battery energy storage system and green electricity sales, the company said in a statement today.

(USD 1 = EUR 0.921)

Choose your newsletter by Renewables Now. Join for free!