IFC and Partners Invest in New Equity Fund to Advance Clean Energy in Southeast Asia

IFC has made a $15 million investment in SEACEF II, supporting energy projects in Southeast Asia. The project is managed by Clime Capital.

SEACEF II combines a blend of public, private, and philanthropic capital, focusing on Southeast Asia. It targets equity investments in utility-scale renewables and supports businesses in rooftop solar, energy efficiency, electric mobility, and grid management.

SEACEF II targets to invest in Indonesia, Vietnam, and the Philippines, while also supporting regional ventures across Southeast Asia. IFC’s debut investment, part of a global partnership with Allied Capital Partners, consists of $10 million from IFC’s account and $5 million from the Finland-IFC Blended Finance for Climate Program.

Speaking about the project, Mohamed Gouled, IFC’s Vice President of Industries, said, “IFC supports innovative, climate-focused equity investments aimed at strengthening the climate finance market across emerging markets, including Southeast Asia. Private equity funds can play an important role in bridging the gap in financing early-stage climate infrastructure projects, advancing the energy transition and reducing greenhouse gas emissions along the way. We are delighted to partner with Clime Capital to provide much-needed capital to utility-scale clean energy startups and climate transition initiatives in the region, especially in Indonesia, Viet Nam, and the Philippines.”

Mason Wallick, Chief Executive Officer and Co-Founder of Clime Capital, added, “As time passes without sufficient progress in developing the critical resources to reduce carbon emissions, the planet needs more businesses focused on accelerating the low carbon transition to thrive. Clime Capital has proven that our unique combination of early-stage investment ability and clean-energy expertise applied through dedicated on-the-ground teams in Southeast Asia can make a real difference.”