Singapore-based infrastructure credit platform Clifford Capital has closed a US$70 million, five-year term loan facility for CSA 2 to support the development of up to 150 megawatts of commercial and industrial ( C&I ) solar projects across Southeast Asia.

Clifford Capital is a co-lender in the financing alongside ING. The loan proceeds will be used to fund the development of an existing pipeline of greenfield C&I solar projects in Thailand, Malaysia, Indonesia, Singapore, and Vietnam. The facility also includes a US$30 million greenshoe option to facilitate Cleantech Solar’s future expansion in the region.

"We are delighted to partner with ING to support Cleantech Solar’s rollout of commercial and industrial solar projects in Southeast Asia,” says Audra Low, group head of client coverage at Clifford Capital. “This transaction highlights Clifford Capital’s continued commitment to providing innovative and sustainable financing solutions that enable the growth of clean energy infrastructure in the region."

Brian Tan, group chief financial officer at Cleantech Solar, adds: “This significant funding will accelerate the expansion of our renewable energy C&I portfolio across Southeast Asia, reaffirming our steadfast commitment to sustainable development. This trust from partners like ING and Clifford is a powerful testament to our shared mission: bringing more clean energy to businesses and accelerating the region's vital energy transition.”