BlackRock Alternatives, and Climate Finance Partnership (CFP) subsidiary of BlackRock, have entered into an agreement with CleanTech Global Renewables for the construction of solar assets in the Philippines.
CFP will support CleanTech in its goal to develop 1GW solar capacity by 2026.
CFP is a public-private financing vehicle that aims to increase the capital flow into climate infrastructure in emerging markets. This investment marks the first Asia-Pacific CFP. BlackRock Alternatives is also launching its first renewables project in the Philippines.
David Giordano is the global head of climate infrastructure for BlackRock Alternatives. He said, “We are looking forward to finding more partners in emerging economies to identify investment opportunities that provide attractive returns, while also contributing to energy transition and resilience, as well as growth within local economies.”
Valerie Speth, the APAC co-head for climate infrastructure at BlackRock Alternatives said, “CleanTech was well positioned for growth in future, given its track record of developing utility-scale projects in the Philippines.”
Salvador Antonio Castro Jr., President and Chief Energy Officer of CleanTech Global Renewables said, “CleanTech has a commitment to support the Philippines’ energy transformation, preserve the environment, and create a positive impact on the lives of Filipinos.”
 have joined hands with CleanTech Global Renewables to build solar assets in the Philippines. The investment will support CleanTech in its aim to develop 1GW of solar capacity by 2026. CFP aims to increase the capital flow into climate infrastructure in emerging markets, and this marks the first Asia-Pacific CFP. BlackRock Alternatives is also launching its first renewables project in the Philippines. The parties involved are excited to identify more investment opportunities to contribute to the energy transition and growth in local economies.){kind=link}