$800 mln, StanChart intents to invest in Asia Renewable deals

Post date: Nov 21, 2009 12:1:57 AM

"We provide debt, advisory and equity across the sector," Brad Sterley,

director of the bank's renewable energy and environmental finance team

Standard Chartered Plc to invest in renewable energy projects

in Asia worth over $800 million.

The projects include a solar manufacturing venture in China worth up to $500 million and a $300 million

geothermal energy project in Indonesia. "We see some opportunities in wind, solar and water,"

Sterley said the bank also planned to invest in a solid waste-to-energy project

in China and a wind and a solar power venture in India.

$10bn pledged for Cleantech 2007

The projects are on top of financing worth up to $10 billion for clean technology

which the bank plans to mobilize under its commitment with the Clinton Global Initiative in 2007.

The bank has so far tapped half of the committed financing, but is targeting putting all the funding

to work in markets including Asia, Africa and the Middle East by 2012.

"We see growing opportunities in waste, and hydropower is another significant subsector,".

He said many of the technologies in the renewable space such as solar thermal could present

growth opportunities going forward as they become more commercialized.