Financing for renewable energy projects in Southeast Asia: The Armstrong Fund

Armstrong Asset Management is an independent asset manager based in Singapore. It is specialized in the sector of clean energies in emerging markets in Southeast Asia. The company raised over USD 160m during the final closing of its first investment fund Armstrong, dedicated to clean energies.

The Armstrong fund plans to make 10 to 15 investments over a 10-year period, with a unit amount ranging between USD 5m and USD 25m. It will mainly target small-scale renewable energy projects and the efficient use of resources on emerging Southeast Asian markets, in particular in the solar, hydro and wind energy and biogas sectors in Thailand, the Philippines, Indonesia and Vietnam.

The markets for renewable energies and the efficient use of resources in Southeast Asia benefit from strong economic fundamentals, but still lack financing. Consequently, the Armstrong investment fund will act as a catalyst on these markets. It will more generally contribute to supporting the energy transition in Southeast Asian countries towards low-carbon economies.