Cleantech Solar Asia 2 (CSA 2) has secured a US$70 million five-year term loan facility to develop up to 150 MWp of commercial and industrial (C&I) solar projects across Southeast Asia. The financing was jointly arranged by Singapore-based Clifford Capital and ING, underscoring growing investor confidence in the region’s renewable energy landscape.
The facility includes a US$30 million greenshoe option, allowing for additional funding to support Cleantech Solar’s regional expansion plans. The proceeds will be used to finance a pipeline of greenfield solar projects in Thailand, Malaysia, Indonesia, Singapore, and Vietnam.
Strategic Funding to Accelerate Clean Energy Rollout
Audra Low, Group Head of Client Coverage at Clifford Capital, said the deal reflects the firm’s long-term commitment to enabling sustainable infrastructure financing in Asia.
“We are delighted to partner with ING to support Cleantech Solar’s rollout of C&I solar projects in Southeast Asia. This transaction highlights Clifford Capital’s continued focus on delivering innovative and green financing solutions,” Low stated.
Brian Tan, Group CFO of Cleantech Solar, welcomed the funding as a key enabler of the company’s regional clean energy goals.
“This milestone green financing from ING APAC and Clifford Capital will accelerate the growth of our C&I solar portfolio across Southeast Asia. It reaffirms our commitment to sustainable development and the regional energy transition,” he said.
Regional Expansion with Green Ambitions
With demand for renewable energy rising among commercial and industrial players, Cleantech Solar’s expanded portfolio is expected to enhance clean power accessibility across Southeast Asia. The new projects aim to reduce reliance on fossil fuels and support net-zero goals of corporate and national stakeholders alike.
The financing deal adds further momentum to Southeast Asia’s clean energy transition, positioning Cleantech Solar as a key contributor to the region’s decarbonization efforts.
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