SINGAPORE: Keppel has partnered with the Asian Development Bank (ADB) and Enterprise Singapore (EnterpriseSG) to explore energy transition and environmental sustainability projects worth up to US$800 million (approximately S$1.047 billion) across Asia and the Pacific region.
According to The Business Times, these projects are expected to be a part of Keppel’s pipeline of infrastructure assets for its private funds and listed business trust, as stated in a press release on Tuesday, Aug 20.
The partnership’s focus will include decarbonising power generation, advancing renewable energy sources, promoting electric mobility, and constructing green buildings.
The partnership also plans to tackle water treatment and resource recovery from waste, including bio-energy and waste-to-energy projects.
When completed, these initiatives are expected to collectively reduce carbon dioxide equivalent emissions by at least one million tonnes per year.
The companies will initially focus on Southeast Asia, exploring opportunities backed by climate financing, with a target project value of over USD 800 million from 2025 to 2030.
EnterpriseSG will help Keppel access markets through its network of over 35 global centres, connecting them with in-market partners, navigating regulations, and identifying potential financing resources throughout various project stages.
Cindy Lim, CEO of Keppel’s infrastructure division, noted that the company is well-equipped to handle large-scale sustainable infrastructure projects.
“Coupled with ADB’s concessionary financing and regional cooperation expertise, as well as EnterpriseSG’s deal-matching and market access capabilities, our partnership is uniquely positioned to drive impactful change and help the region achieve green growth,” she said.
Bhargav Dasgupta, ADB’s vice president for market solutions, added, “ADB will continue to partner with the private sector on innovative solutions to power the region’s low-carbon future.”
Cindy Khoo, managing director of EnterpriseSG, added that public-private partnerships are crucial for accelerating climate technology solutions.
“This is why EnterpriseSG has embarked on this partnership with Keppel and ADB to share our networks and resources to catalyse and address impactful sustainability projects in the region. We are excited to be part of this effort and look forward to supporting more homegrown global enterprises, like Keppel, in deepening their overseas footprint, while contributing to the advancement of sustainable development in the region,” she said. /TISG
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