Real Wind energy project has potential to revive the country’s wind power sector
Singapore and Manila – 29 January 2021: Clime Capital, the Singapore-based investment management company focused on accelerating the low carbon transition in Southeast Asia, today announced that has invested in Highland Infrastructure’s Real Wind Energy project in Quezon, Philippines.
The Real Wind Energy project’s scale and technical design have the potential to be precedent-setting in the Philippines: it has the ambition to be the country’s largest wind energy resource and potentially the largest in Southeast Asia, generating nearly 2 TWh per year and mitigating approximately 1.4 MT CO2 per year.
Mason Wallick, Managing Director, Clime Capital, said, “since the feed in tariff for Philippines wind projects was discontinued in 2017, uncertainty over the possibility of securing offtake contracts has made investors wary of financing the early stages of wind projects, impeding their development. SEACEF’s early-stage funding will help the project demonstrate wind power’s viability, reinvigorating the sector in the Philippines.”
“We are delighted to be working with SEACEF and excited about the prospects for Real Wind whose fundamentals are some of the best we’ve seen” - Edward Douglas, Managing Director, Highland Infrastructure
SEACEF’s early-stage investment provides initial funding to finance the installation of met masts to prove the wind resource, to confirm grid access through a grid impact study, and to confirm E&S viability though completion of the initial environmental impact assessment (EIA).
With an initial focus on Indonesia, Vietnam, and the Philippines and managed by Singapore-based Clime Capital, the South East Asia Clean Energy Facility (SEACEF) is backed by leading international climate foundations and investors.
For more information, please contact:
Jeremy Hughes
Smart Word Pte. Ltd.
T +61 (0) 468 992 481
E jeremy@smartwordgroup.com
Mason Wallick
Clime Capital Pte. Ltd.
T +65 9457 5310
E mason.wallick@climecap.com
About SEACEF
SEACEF provides catalytic funding to address climate change by reducing and removing many of the key early-stage barriers that stall or prevent successful clean energy projects and businesses. By placing development risk capital into innovative, high-impact clean energy opportunities, SEACEF is focused on the funding and scaling of globally proven technologies and business models such as solar, wind, and energy storage (on-grid and behind the meter), plus other business models that accelerate the low carbon transition – such as electric mobility, demand side management technology, energy efficiency and clean energy transmission infrastructure.
About Clime Capital
Clime Capital Management Pte. Ltd. (Clime Capital) is a Singapore-headquartered fund management company registered with the Monetary Authority of Singapore. The Clime Capital team consists of senior professionals with deep Southeast Asian market experience in clean energy investments and developments. The team brings a diversified skill set in early stage project funding and development, investment and portfolio management, project finance, design and engineering, operations, and environmental safeguards. The SEACEF investments team has an on-the-ground presence in Vietnam, Indonesia, the Philippines, and Singapore.
About Highland Infrastructure
Highland Infrastructure Pte. Ltd is a Singapore headquartered developer of renewable energy projects across Southeast Asia. It’s experienced team of 23 professionals operate from offices in Singapore and Bangkok.
