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Climate Fund Managers invests $50 million in Singapore’s Cleantech Solar

ImpactAlpha, September 17 – Climate Fund Managers, a Dutch climate-focused investment firm, has made a $50 million equity investment to support Cleantech Solar’s expansion in Asia.

Cleantech Solar, based in Singapore, partners with companies on large-scale rooftop solar installations. It has installed 120 systems in India, Cambodia, Malaysia, Thailand, the Philippines, Vietnam and Singapore totalling 200-megawatts. The funding from Climate Fund Managers will enable Cleantech Solar to more than double its installed capacity.

Climate Fund Managers, a partnership between Dutch development bank FMO and South Africa’s Sanlam Infraworks, made the investment from its Climate Investor One fund. The fund was incubated by the Global Innovation Lab for Climate Finance as a financing tool to fund renewable energy projects in emerging markets. It has raised $535 million.

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