The latest developments in the sustainability space.

DBS has announced a $210 million senior financing facility for ETAFCo, the investment vehicle supporting the displacement strategy of the Energy Transition Acceleration Finance partnership (ETAF). This is taking place under Singapore’s Financing Asia’s Transition Partnership (FAST-P) initiative. 

Managed by Clifford Capital, ETAF will mobilise concessional and private capital to accelerate deployment of clean energy and energy transition projects across Asia.

The financing marks the first loan extended to ETAFCo, with DBS as the fund’s inaugural senior debt financier, DBS said. The loan will support eligible energy transition infrastructure debt investments, including renewable energy, grid modernisation, energy storage and other clean energy solutions that reduce reliance on and the use of coal-fired power generation.

Previously, DBS contributed $75 million to FAST-P’s flagship blended finance programme Green Investments Partnership which is managed by Pentagreen Capital.

FAST-P is a programme launched by the Monetary Authority of Singapore.