Kuala Lumpur-based Ditrolic Energy Holdings Sdn. Bhd. has entered into a significant agreement with BlackRock’s Climate Finance Partnership (CFP) to bolster its foray into constructing commercial and industrial (C&I) as well as utility-scale solar assets across emerging markets in the Asia Pacific region.
Established in 2009, Ditrolic Energy is a prominent renewable energy developer in Malaysia and Southeast Asia, overseeing a fully-integrated value chain from project development to asset management. Currently managing over 450MW of solar assets in Malaysia, Southeast Asian nations, Bangladesh, and China, Ditrolic Energy, with the support of CFP, solidifies its position as a leading player in Malaysia’s energy transition.
The Climate Finance Partnership, a collaboration involving BlackRock and government entities from France, Germany, and Japan, along with influential US impact organizations, aims to channel blended capital into climate infrastructure projects in non-OECD countries across Asia, Latin America, and Africa.
This strategic partnership aims to facilitate Ditrolic Energy’s ambitious pipeline of solar projects, surpassing 1 GW in capacity across Malaysia, Bangladesh, Indonesia, and the Philippines. It will also aid in the investment and expansion of the company’s flagship 360° Clean Energy Solution, EnerLoop, incorporating technology for Carbon Tracking, Battery Energy Storage System, and Green Electricity Sales.
Leveraging this collaboration, Ditrolic Energy plans to establish Malaysia as its investment hub, concentrating on energy transition projects in alignment with Malaysia’s National Energy Transition Roadmap (NETR) program. Tham Chee Aun, Founder and Group CEO of Ditrolic Energy, expressed gratitude for BlackRock’s support, highlighting the potential to accelerate the transition to low carbon economies across multiple markets.
Valerie Speth, APAC Co-Head of Climate Infrastructure at BlackRock, emphasized Ditrolic Energy’s proven track record in solar development across the region, emphasizing the partnership’s role in mobilizing capital for climate infrastructure in emerging markets.
The Asia Pacific region, responsible for 40% of global carbon emissions, offers significant opportunities for renewable energy development. The partnership aims to drive greenfield renewables capacity to support growth in emerging markets such as Malaysia, Bangladesh, Indonesia, and the Philippines, aligning with their respective renewable energy goals.
BlackRock’s Climate Finance Partnership secured US$673 million in commitments from a global consortium of investors in an oversubscribed final fundraise, surpassing the initial target of US$500 million. BlackRock currently manages over US$50 billion of infrastructure client AUM, comprising infrastructure equity, debt, and solutions, and has experienced both organic and inorganic growth since its inception in 2011.