Singaporean private-equity company Armstrong Asset Management is considering investment in two to three clean-energy developers, which may be worth as much as $600m, by the month-end.
In an e-mail sent to Bloomberg, the company’s managing partner Andrew Affleck revealed that the deals, each with a separate developer, offer a pipeline of about 15 separate wind, solar and small-hydropower projects with total investment of $150m in equity and $450m in debt.
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He also said that the projects being considered are still under development, and will have a total capacity of more than 300 megawatts covering Vietnam, Thailand, Indonesia and the Philippines.
Armstrong Asset Management is exploiting various incentives extended by governments in Southeast Asia, which are looking to generate power from clean resources.
Thailand has followed Malaysia and Philippines by implementing the premium payments, or feed-in tariffs, for solar energy, in July.
"We expect to see the Philippine solar sector get tangible traction with regards to projects under construction and possible quota increases," Affleck said.
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By GlobalData"We also expect the rooftop solar space to become more featured in investors’ and developers’ plans, particularly in Thailand and the Philippines," he added.
