CTI PFAN Asia Forum for Clean Energy Financing (AFCEF-3)
Way for the Next Generation of Clean Energy Projects
Ten clean energy projects that could reduce greenhouse gas emissions across Asia by ca. nearly 1.1 million tonnes CO2 e p.a. year, were presented to investors in Singapore at the CTI PFAN ASIA FORUM FOR CLEAN ENERGY FINANCING (AFCEF-3).
More than 100 financiers, clean energy experts and representatives of financial institutions from across Asia and overseas participated in the Forum. The meeting was organized by the Climate Technology Initiative’s Private Financing Advisory Network (CTI PFAN), a global multilateral initiative dedicated to connecting clean energy businesses with financing and ‘bridging the gap’ between clean energy project developers and investors.
“By matching project developers from around the region with investors, this forum helps make projects happen and increases the flow of investment in
to developing clean energy markets in Asia” said Mr. Peter Storey (CTI PFAN Global Coordinator).
The projects showcased at the Forum, with a total aggregate investment value in excess of USD 225 million, included bio fuels, solar, biogas, waste to energy initiatives developed by entrepreneurs and companies from India, Thailand, Philippines, Cambodia, Bangladesh and Indonesia.
“What is so exciting about the CTI PFAN programme is that it is not about process, but instead is facilitating the implementation of real projects, having not only economic returns, but social and environmental benefits as well” said CTI PFAN Manager, Mr. Elmer Holt.
CTI PFAN screens business plans, selects the most economically viable and environmentally beneficial projects, and provides multiple rounds of coaching and guidance before projects
are presented to investors. CTI PFAN is now working on more than 164 clean energy projects across Asia, Africa and Latin America. Globally, CTI PFAN has raised over USD 432 million dollars of investment for clean energy spread over 38 projects.
From the 10 showcased projects, a panel of independent judges selected RiverGen, mini-hydro projects in Indonesia, and Shri Shakti Alternative Energy Pvt. Ltd., a solar park project in India as the joint winners of the CTI PFAN Clean Energy Financing Awards. For investors, AFCEF-3 was a great opportunity to access a select group of clean energy projects with high profit potential, verified environmental and development benefits, which are ready for investment. It also provided a unique networking forum for Asia’s clean energy entrepreneurs.
Mr. Nagaraja Rao, Regional Coordinator – AFCEF-3, said “CTI PFAN is providing a vital link between investors and project developers and this forum is ideally tailored to creating deal flow for clean energy investors in Asia”.
“The key to a successful realization of this growth lies in the bankability of these projects that demonstrate the high quality investment potential due to their scalability and the dilution of risks. These are the kinds of projects that have been handpicked and coached for the AFCEF-3. Singapore is proud to have established itself as Asia’s financial hub and thus a great location for financing platforms such as AFCEF-3” said the Chairman of SEAS, Mr. Edwin Khew.
“As a member of the international society, Japan supports CTI activities through the Ministry of Economy, Trade and Industry leading the organization of CTI PFAN Financing Forums like AFCEF-3 with ICETT acting as the CTI Secretariat. ” Said Mr. Kei Miyaji of METI. “To address climate change issues, it is crucial for both developed and developing countries to integrate technology, market and finance, thereby promoting wider use of advanced low-carbon technologies and products.”
AFCEF-3 is sponsored by the Climate Technology Initiative (CTI) and its Private Financing Advisory Network (CTI PFAN), the United States Agency for International Development (USAID), the Energy for All Program of the Asian Development Bank (ADB) and the International Center for Environmental Technology Transfer (ICETT) and is co-organized by the Dawn Consulting, Clean Energy Solutions International (CSI), PPL International, Economic Development Board of Singapore, the Sustainable Energy Association of Singapore (SEAS), ReEx Capital Asia, Singapore Economic Development Board (EDB) and its Small Business Bureau (SBB), and Business Angel Network Southeast Asia (BANSEA).
CTI PFAN is a multilateral, public-private partnership initiated by CTI in cooperation with the UN Framework Convention on Climate Change’s Expert Group on Technology Transfer.