Singapore-based fund supervisor Clime Capital has invested as much as $10 million in Upgrade Energy Philippines (UGEP). The cash will go to help business and industrial (C&I) and utility-scale photo voltaic deployment.

Image: Chirayu Trivedi, Unsplash

Clime Capital, a Singapore-based fund supervisor, has invested in Philippines-based photo voltaic developer UGEP. The funding, made by Clime Capital’s South East Clean Energy Fund II, quantities to $10 million.

Clime Capital stated the money injection will assist UGEP deploy C&I and utility-scale photo voltaic tasks based mostly in Manila UGEP accomplished its first photo voltaic set up in 2015 and is ready to exceed 50 MW of set up capability by the top of this 12 months. . In 2023, it constructed the most important rooftop photo voltaic array within the Philippines so far.

“Infrastructure growth is an pressing activity for us to fulfill the Department of Energy’s bold goal of 35% renewable power by 2030 and 50% by 2040 – and accelerated funding is crucial to grab the present alternative ,” stated Ruth Yu-Owen, president, and CEO of UGEP.

This content material is protected by copyright and might not be reused. If you need to cooperate with us and need to reuse a few of our content material, please contact: [email protected].

Popular content material