Asia Digest: ADB debt for RE projects; IIX, PTI Australia in impact investing pact

From right, are: Natasha Garcha (head of Business Development at IIX), Durreen Shahnaz (founder of IIX), and Chad Morris (Investment & Tourism General Manager at PTI Australia).

The Asian Development Bank has given its approval to two renewable energy projects pegged at $210 million, while the Impact Investment Exchange and Pacific Trade Invest Australia signed an agreement to bolster the impact investing market across the Pacific Islands.

ADB okays debt financing RE projects worth $210m

The Asian Development Bank (ADB) has approved two renewable energy projects worth over $210 million in debt financing from one of its cofinancing vehicles called LEAP or Leading Asia’s Private Infrastructure Fund, dedicated to private sector infrastructure in Asia and the Pacific.

ADB gave the green light to the initial projects for LEAP’s first year of operation following the processing of over $500 million of LEAP debt and equity transactions for private infrastructure throughout the region. This includes potential projects in India, Indonesia, Myanmar, Pakistan, the Philippines, and Thailand.

The Manila-based regional bank expects these initial projects will generate about $1.4 billion in total financing, including $264.5 million from ADB’s own capital and an additional $890 million from cofinancing partners.

Launched in August 2016, LEAP is backed by the Japan International Cooperation Agency (JICA) through a $1.5 billion equity commitment.

The ReNew Clean Energy Project in India recently commissioned a 48 megawatt (MW) solar sub-project in Telangana state and a 110 MW wind sub-project in Karnataka state. The Muara Laboh geothermal power project in Indonesia has commenced drilling, secondary works, and construction.

IIX, PTI Australia ink impact investing agreement for women-focused enterprises

Impact Investment Exchange (IIX), and Pacific Trade Invest Australia (PTI Australia) signed a letter of engagement to catalyze growth of the impact investing market across the Pacific Islands targeting mostly women-focused enterprises.

PTI Australia is Australia’s Department of Foreign Affairs and Trade (DFAT)-funded Pacific Island agency that creates jobs in the Pacific Islands by facilitating trade and attracting impact investment into the region.

IIX noted it will begin to effectively build the market for impact investing beginning in aquaculture and agriculture sectors with plans to expand the ecosystem deeply across 16 pacific island countries and the surrounding oceans.

“This understanding between IIX and PTI Australia aims to drive economic growth in the region while highlighting the potential of women-focused enterprises in the agriculture, ecotourism and fisheries industries,” IIX said in its statement.

Early this year, IIX officially extended its reach into the pacific working in the fisheries sector and then expanding its involvement with support from PTI Australia, and Pacific Readiness for Investment in Social Enterprise (Pacific RISE).

Founded in 2009, based in Singapore, IIX’s business model is to enable impact enterprises to accelerate their business and scale their positive impact, while pushing the impact investing space from the margins to the mainstream.

Also Read:

China: ADB, partners ink $100.5m financing package for waste-to-energy projects

Australia’s biggest pension fund eyes US infrastructure investments

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.