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  • PFAN Investment Forum in Singapore Puts Climate and Clean Energy Projects in Asia in the Spotlight

PFAN Investment Forum in Singapore Puts Climate and Clean Energy Projects in Asia in the Spotlight

16 February 2018
Mr. Omar Malik of PITCO pitches one of the winning business plans to the jury and the investors in the audience.

Singapore, February 2, 2018 – Ten climate and clean energy entrepreneurs pitched for a total of over USD 31 million of investment to an audience of close to 90 investors at the 8th annual Asia Forum for Climate and Clean Energy Financing, organised in Singapore by the Private Financing Advisory Network (PFAN) on February 2nd. PFAN selected these ten projects from a total of 74 proposals, received from 12 countries in Asia.

The audience at PFAN’s 8th Asia Forum for Climate and Clean Energy Financing

An independent jury of investors awarded the PFAN Asia Clean Energy Financing Awards for the best business plan jointly to PITCO Ltd., which plans to install 20MW of rooftop solar PV throughout Pakistan on a Build-Own-Operate-Transfer (BOOT) basis, and Okra Solar, which has developed an innovative plug & play hardware and software solution that is expected to revolutionise the economics of smart pay-as-you-go micro-grids and solar home systems, by seamlessly connecting existing off the shelf solar panels and batteries.

Joint runners-up were Erda Illumine, manufacturers of biomass pellets for industrial use in India, and Bamboo Energy, which produces sustainable biofuel through a smart bamboo plantation in Cambodia.

All the participating companies had received intensive support and advice from PFAN professional coaches to help them structure their financing ask and prepare compelling investment plans based on robust business and financial models. The judges praised the quality of the projects and investment plans presented at the Investment Forum, noting that it was difficult to pick the winners and emphasising that all the showcased projects were of investment quality.  Mr. Mason Wallick, founder and Managing Director of Infunde Development and a first-time PFAN jury member, commended the project developers for the quality of their pitches and business plans: “Compared to more than 100 business plans and pitches that I have seen over the course of the past few years, the level of detail in the analysis and the consistency of the pitches today was significantly higher.”

Ms. Kate Duff, Deputy High Commissioner of Australia to Singapore, gives an opening address at the PFAN Investment Forum

The Investment Forum, which took place at the Intercontinental Hotel in Singapore, was opened by Ms Kate Duff, Deputy High Commissioner of Australia to Singapore, and Mr Edwin Khew, Chairman of the Sustainable Energy Association of Singapore (SEAS). After the investment pitches, participating investors participated in an investors discussion panel and had the chance to speak directly with the project developers during a poster and networking session.

The entrepreneurs who took part in the business plan competition were looking for investments ranging from USD 780 k to USD 7.75 million, and their projects involve a range of clean energy technologies, including solar, biomass and hydropower. PFAN will continue working with the 10 projects to help facilitate the investment they need to implement their business plans, which have the potential to lead to an annual GHG emissions reduction of over 1 million tonnes CO2e. In the past year, PFAN has raised over USD 2.1 million for 3 of the projects presented at last year’s Asia Investment Forum.  

Ms. Thida Kheav of Solar Green Energy Cambodia pitches to the investors at the Forum.

PFAN is a multilateral public private partnership, initiated by the United Nations Framework Convention on Climate Change, which nurtures promising, innovative clean and renewable energy projects by bridging the gap between investors and clean energy entrepreneurs and project developers. By December 2017, with over USD 1.2 billion of investment for 101 projects already raised, PFAN had contributed to the establishment of over 802 MW of clean generation capacity and annual mitigation of 3.3 million tonnes CO2e. In the past year, PFAN has raised over USD 2.1 million for 3 of the projects presented at last year’s Asia Investment Forum.

PFAN is hosted by the United Nations Industrial Development Organization (UNIDO) in collaboration with the Renewable Energy and Energy Efficiency Partnership (REEEP).

The Asia Forum for Climate and Clean Energy Financing is sponsored by the Private Financing Advisory Network (PFAN), Japan’s Ministry of Economy Trade and Industry, the U.S. Agency for International Development (USAID), USAID Private Financing Advisory Network-Asia program (PFAN-Asia), Australia’s Department of Foreign Affairs and Trade (DFAT) and the Energy for All Program (E4All) of the Asian Development Bank (ADB) with support from the International Center for Environmental Technology Transfer (ICETT). It is organized in cooperation with Dawn Consulting, Clean Energy Solutions International (CSi), PPL International and the Sustainable Energy Association of Singapore (SEAS).

For more information on these and other projects in the PFAN pipeline, please contact info@pfan.net. For information on upcoming investment forums, PFAN calls for proposals and instructions for the submission of a business plan, look at www.pfan.net. PFAN’s next Investment Forum will be the Global Investment Forum which will take place in Vienna on 16th May 2018.