Ditrolic Energy secures investment backing from BlackRock’s climate finance partnership

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  • Partnership expected to develop and build 1GW+ scalable solar portfolio
  • Intends to make Malaysia its investment hub for key energy transition projects around the Asia Pacific region

Dr. Valerie Speth, BlackRock’s APAC co-head of Climate Infrastructure (second from left) with Ditrolic Energy founder & group CEO, Tham Chee Aun (second from right), Isabella Pacheco, BlackRock’s director of Climate Infrastructure (left) and Ditrolic Energy executive director, Michelle Ong 

Ditrolic Energy Holdings Sdn. Bhd. (Ditrolic Energy) has entered into an agreement with global asset management company BlackRock’s Climate Finance Partnership (CFP), its flagship public-private finance vehicle, to back Ditrolic Energy’s expansion to build commercial and industrial (C&I) and utility-scale solar assets throughout emerging markets in Asia Pacific.

CFP is a partnership between Blackrock and the development finance institutions of France (AfD), Germany (KFW) and Japan (JBIC), and other impact organisations. It aims to mobilize significant blended capital into climate infrastructure, targeting investment in non-OECD countries across Asia, Latin America and Africa.

The investment will facilitate the realisation of Ditrolic Energy’s targeted 1 GW+ pipeline of solar projects, increasing Ditrolic A large-scale solar project undertaken by Ditrolic Energy in Malaysia.Energy’s targeted total capacity to 5GW+ pipeline of solar projects across Malaysia, Bangladesh, Indonesia and the Philippines.

Tham Chee Aun, founder and group CEO of Ditrolic Energy, said: “We are committed to playing a key role in Asia’s energy transition. We are grateful for BlackRock’s support, because the investment in Ditrolic Energy enables us to rapidly increase scale and maximise value to support transition to low carbon economies throughout multiple markets. With the capital raised and private investment to be mobilised, Ditrolic Energy would be in a prime position to undertake key energy transition projects in Malaysia and other Southeast Asia countries.”

Valerie Speth, APAC co-Head of Climate Infrastructure, BlackRock, said: “Ditrolic Energy holds a proven solar development track record in this diverse region. Our partnership presents an attractive opportunity to mobilise more capital into climate infrastructure in emerging markets and accelerate national ambitions to achieve net zero economies.”

Ditrolic Energy was founded in 2009 and provides Solar PV systems with a current portfolio of more than 300MW of commercial, industrial and government projects across Southeast Asia and South Asia regions.