The Asian Development Bank (ADB) says it is vital to reconcile sustainable development with developing countries’ urgent need for poverty allevation and growth – inclusive and green growth – to avoid irreversible and costly environmental damage. A key topic at the Clean Tech marketplace forum in Singapore which ADB is supporting. Armstrong Asset Management is heading in the right direction with the third close at $130 million of its Clean Energy Fund for South East Asia. Read More

The Clean Tech Marketplace Forum is on from Monday 9 September to Wednesday 11^th at Resorts World Sentosa, Singapore.

Sharing a common strategic vision of addressing climate change, the Asian Development Bank (ADB) and the Global Cleantech Clusters Association (GCCA) which is composed of 48 clusters from across the world, representing 10,000 Cleantech companies, have joined forces to facilitate the creation of a low carbon technology marketplace in Asia through an objective forum that will bring together all relevant stakeholders to discuss new development, issues, challenges, projects, partnerships and prospects.  This global, cross-sectoral, multi-stakeholders and multi-dimensional forum is envisioned to pave the way for the creation of a successful and sustainable model for an efficient cleantech marketplace at the regional level to help spur sustainable economic development in the Asia Pacific region and the rest of the world.

This Forum is a global stage for all key stakeholders (private sector, government bodies, technical and research institutes, multilateral agencies and NGOs) to incorporate their perspectives in the creation and operation of a cleantech marketplace to accelerate cleantech development, innovation and adoption.

Event Highlights:

Asian Development Bank (ADB) Low Carbon Technology Marketplace Forum

Global Cleantech Cluster Association (GCCA ) Asia-Pacific Cleantech Cluster Managers Meeting

Presentation of findings of GCCA Survey 2012

Sharing of best practices and case studies

Singapore Cleantech Forum presented by Singapore High Technology Association – a Green Technologies Association

Pre-event Masterclass Training Workshop on Keystone Method for Cleantech Investment (used in  GCCA Later Stage Awards Judging), as well as Climate Smart and Power House Workshops

Guided Tour at BEX/WES on Sept 11

Networking session with Swissnex and visit to Swiss Future City Lab in Singapore

Business Matching sessions and meetings

Networking cocktails for Cleantech Partnerships

For the full programme, speaker and registration details go to: www.amiando.com/CleanTechForum.html

By Elga Reyes in eco-business.com (2 September 2013):

Clean energy fund raises US$130 million for regional solar, biogas projects

Singapore-based Armstrong Fund has received several financial commitments from various international monetary agencies interested in investing in renewable energy projects in Southeast Asia.

Pictured is the solar power project in Thailand, developed by Conergy, from which Annex Power originated.

Armstrong Asset Management on Thursday announced the investments of several financial institutions to the Armstrong South East Asia Clean Energy Fund which will channel US$130 million into different renewable energy projects in the region.

The IFC Catalyst Fund, the Netherlands Development Finance Company (FMO), and the Swiss Investment Fund for Emerging Markets (SIFEM) have committed to the Armstrong Fund, a private equity investment account dedicated to small-scale renewable energy and resource efficiency projects in emerging markets around Southeast Asia.

Singapore-based Armstrong Asset Management aims to invest in 10 to 15 projects that generate up to 10MW of power from sources such as solar, hydro, wind or biogas within ten years. The worth of each project can range from US$5 million to US$12 million.

With this upsurge of new commitments, the Armstrong Fund is closer to achieving its goal of US$150 million by end of September or its targeted final closing.

The IFC Catalyst Fund, managed by the IFC Asset Management Company LLC, a subsidiary of World Bank-member International Finance Corporation, invested US$20 million to the Armstrong Fund. Back in May, it also provided the same amount, which was the first investment by the multilateral organisation in a fund focused on mitigating climate change in Southeast Asia.

Reyaz Ahmad, head of the IFC Catalyst Fund, said, “The capital, expertise, and innovation [Armstrong Fund] will bring to clean energy in Southeast Asia exemplifies the role private equity can play in helping to address climate change while generating financial returns.”

Similarly, Jurgen Rigterink, chief investment officer of FMO, which is investing in the fund for the first time, said, “We are pleased to work with investors who are committed to clean energy and energy and resource efficiency.”

The Dutch development bank, which is one of the largest such banks in Europe with an investment portfolio of 6.3 billion euros, supports innovative solutions for economic and social growth. Aside from energy, they are also focused on two other high impact sectors – financial institutions and agribusiness, food and water.

SIFEM, on the other hand, invested in the Armstrong Fund through Obviam, an independent investment advisor in Switzerland.

“Obviam is looking forward to a long term partnership with Armstrong, who offers a unique blend of in-depth renewable energy and Southeast Asia investment experience. We expect the fund to a play an important role in fostering the application of clean and renewable energies in the region, working towards minimising fossil fuel-based dependence,” said Claude Barras, chief executive officer of Obviam.

Currently, the Armstrong Fund has investments in solar photovoltaic and biogas power projects in Thailand, Indonesia and the Philippines worth US$30 million in partnership with Annex Power. In addition, it has invested in the construction and development of a 30MW portfolio of solar power projects in Thailand with Hong Kong-based energy company, Symbior Energy.

According to Armstrong Asset Management managing partner Andrew Affleck, the firm will ensure that the environmental and developmental impact will be reported to the investing institutions, as well as the amount of generated clean energy.

He added, “The Armstrong team will work with our investee companies to adopt best practices that adhere to IFC’s environmental and social performance standards, in addition to delivering the projected financial returns.”

Source: www.eco-business.com