DBS has provided a USD210 million senior debt facility to ETAFCo, an investment vehicle managed by Clifford Capital under Singapore’s Financing Asia’s Transition Partnership (FAST-P). The financing marks the first loan extended to ETAFCo and follows the platform’s first close of USD250 million in committed capital from the Monetary Authority of Singapore (MAS) and the Private Infrastructure Development Group (PIDG), with Temasek also expected to provide catalytic capital.
The financing will support infrastructure debt investments in energy transition projects across Asia, with an initial focus on renewable energy generation, grid modernisation, battery energy storage systems (BESS), and other clean energy infrastructure aimed at reducing reliance on coal-fired power generation. GuarantCo, part of PIDG, has also provided a guarantee for ETAF’s mezzanine financing structure to strengthen the investment platform’s capital framework.
FAST-P is a Singapore government-backed initiative designed to mobilise concessional and commercial capital for sustainable infrastructure across Asia. The Singapore government has committed up to USD500 million in concessional capital under the programme, with the objective of catalysing up to USD5 billion in investments. DBS has also committed USD75 million to FAST-P’s Green Investments Partnership (GIP), reinforcing its role in supporting the region’s energy transition and sustainable infrastructure financing.