Singapore-based ABC Impact, part of Temasek Trust Asset Management, has invested US$50m (€47m) in Tekoma Energy as a co-investor with Energy Transition Infrastructure (ETI), a unit of HSBC Asset Management (AM).
Japan-headquartered Tekoma Energy specialises in the development and operation of solar projects primarily in Japan; it also has operations in Taiwan, with plans to expand into South Korea and battery energy storage systems early next year.
HSBC AM ETI, as lead sponsor, acquired Tekoma Energy in June 2023.
HSBC AM said the new capital from ABC Impact will be directed towards Tekoma Energy’s “plans to develop and operate a series of new solar PV projects that aim to provide clean and reliable energy”.
Paul Rhodes, the head of energy transition infrastructure, Asia ex PRC, of HSBC Asset Management, said: “This investment underscores our commitment to collaborating with like-minded partners to support the regional transition to clean energy, whilst providing attractive returns for investors.”
Tan Shao Ming, CIO of ABC Impact, said: “The urgency of climate action calls for effective and timely energy solutions, particularly in regions like Asia that are both rapidly developing and highly exposed to climate risks.
“Japan’s favourable regulatory environment and growing demand for renewable energy make it an attractive market for solar development.”
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