The fund will seek to develop the clean energy sector in Southeast Asia’s emerging markets, with a focus on Indonesia, Thailand and the Philippines, by investing in the renewable energy generation and resource efficiency sectors. The fund is managed by Armstrong, an independent asset manager based in Singapore and led by Andrew Affleck and Michael McNeil.
The fund will contribute to the professionalization of predominantly small-scale renewable energy projects, such as run-of-the-river hydro and solar PV. This will result in improved energy generation and access, particularly for underserved regions. Simultaneously, it will reduce the dependence on fossil-based fuels and foster economic development in Southeast Asia.