The Emerging Africa and Asia Infrastructure Fund (EAAIF) and Ninety One’s emerging market transition debt (EMTD) strategy have made a $30m (€25.3m) commitment to support Verdant Energy’s acquisition of a wind and storage power project in the Philippines.
EAAIF and EMTD’s bridge-loan acquisition financing will back Verdant’s acquisition of the 16MW wind and 6MW/MWh storage power project of Philippines Hybrid Energy Systems Inc (PHESI).
Verdant’s local partner, Raslag, a listed Philippine renewable energy company, will co-invest with Verdant in the project.
EAAIF is a Private Infrastructure Development Group company managed by Ninety One. Launched in 2024, Ninety One’s EMTD strategy combines private and public credit to fund the energy transition in emerging markets.
Siva Sreedharan, CIO at Verdant Energy, said: “We are proud to partner with EAAIF, Ninety One, and Raslag in advancing the Philippines’ renewable energy ambitions. This project exemplifies how international capital, local expertise, and innovative development can come together to drive inclusive, sustainable growth.”
Roland Janssens, managing director at Ninety One and for EAAIF, said: ”We are driven by a purpose to empower economies and businesses with financial capacity and flexibility through our lending products and expertise.
“The Asia infrastructure market offers exciting prospects for growth to EAAIF, PIDG and Ninety One, and our loan for Verdant’s acquisition illustrates a significant step ahead in our strategy to expand and diversify our offer as we shape the future of infrastructure finance in the region in ways that are commercially sound, impactful, and inclusive.”
Matt Christ, emerging market transition debt portfolio manager, Ninety One, said: “This investment reflects exactly what our emerging markets transition debt strategy was built to do: deploy commercial capital to credible transition leaders in markets where it can also contribute to meaningful real-world impact.
“Verdant’s entry into the Philippines’ renewable energy sector, supported by strong local partnership, demonstrates the power of targeted financing to accelerate decarbonisation, improve energy security, and unlock commercially robust opportunities for investors.”
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