Singapore's Energy Transition Acceleration Finance Partnership Raises $250 Million

MT Newswires06-25 11:04

Singapore's Energy Transitional Acceleration Finance partnership (ETAF) secured $250 million in committed capital in its first close, according to an official government release on Wednesday.

The fund addresses transition pathways in Asia via a displacement strategy to support investments in grid modernization and power generation and also focuses on a replacement strategy aimed at replacing coal-power generation with lower-emissions power sources.

Backed by the Monetary Authority of Singapore, Private Infrastructure Development Group and Clifford Capital, the fund aims to attract a wider base of commercial and institutional investors.

The government of Singapore has pledged up to $500 million in concession capital under the program and is aiming to catalyze up to $5 billion to support the region's green transition.

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