BlueOrchard advances renewable energy generation in Southeast Asia

SINGAPORE, July 16, 2024 /EINPresswire.com/ -- An infrastructure fund managed by BlueOrchard Finance Ltd (“BlueOrchard”), a leading global impact investment manager and member of the Schroders Group, announced today that it will provide a USD 10 million facility to Canis Majoris Holding Limited (CMHL) to support the growth of the firm’s commercial and industrial (C&I) and utility-scale corporate power purchase agreement (CPPA) portfolio in Malaysia.

CMHL is a fast-growing renewable energy player with established presence in emerging markets in Southeast Asia. CMHL’s main business focuses on development and implementation of renewable energy power plants for industry, and has expanded to provide energy efficiency solutions, battery energy storage systems and RECs to industries and commercial establishments to support their ‘net zero’ ambitions. CMHL currently operates through its subsidiary, NEFIN Group. CMHL has over 100MW of projects operational or under construction in Malaysia, and by 2025, the Malaysia portfolio is expected to reach installed capacity of more than 100 MW. The funding provided by the BlueOrchard fund will support CMHL’s CGPP Phase 1 project development and prepare for LSS-5 investment and future utility scale government policies.

“CMHL is committed to provide affordable clean energy electricity supply and provides solutions to industries to reduce their scope 1, 2 and 3 emissions, creates green jobs, and targets to grow in emerging markets in SE Asia. We are confident that with its strong management team, consisting of industry experts with extensive experience in implementing solar power projects, the company will achieve its growth objectives and we look forward to supporting them on their path”, said Prabaljit Sarkar, Investment Director Infrastructure, at BlueOrchard.

Southeast Asia is home to some of the world’s fastest-growing economies. Fossil fuels still dominate the region’s energy portfolio. The transition to primarily green energy mix in Southeast Asia will amplify the region's economic output in a sustainable way. Overall, the region’s policies and trends demonstrate an eagerness to transition to clean energy. For example, under the Malaysia Renewable Energy Roadmap (MyRER), the government aims for renewable energy to provide 31%  (13 gigawatts) of the nation’s energy needs by 2025[ https://www.seda.gov.my/reportal/myrer/ ]. A growing number of private companies are also voluntarily choosing to achieve net zero energy consumption by 2050. CMHL is looking to take advantage of this opportunity.

“The funding provided by BlueOrchard will finance the implementation of Malaysia’s commercial and industrial portfolio, transitioning into utility-scale renewable energy power plants in Malysia. Our strategy is to meet the growing energy demands of industries through various customized renewable energy solutions, providing energy efficiency advice to support their ‘carbon neutrality’ or RE100 goals. With the team’s proven track record and capabilities, we at CMHL are confident of achieving 2 GW of installations by 2028. We would also like to extend our gratitude to Prabaljit, Ashwin, and Genevie from BlueOrchard for their invaluable assistance in making this funding possible." said Glenn Lim, Founder and Managing Director at CMHL.

About Canis Majoris Holding Limited (CMHL)

CMHL is a carbon neutral solutions developer operating across Southeast Asia, either independently or in collaboration with joint venture partners. CMHL provides turnkey solutions to bring industries and commercial establishments closer to carbon neutrality. CMHL specializes in delivering bespoke systems and solutions for multinational corporations across their sites in the region. CMHL has employed over a decade of expertise providing energy advisory to installing solar power plants for customers in China mainland, Hong Kong, Taiwan, Malaysia, Singapore and Thailand. CMHL’s extensive services span from the conception and engineering stage to financing, project management and operation and maintenance support, making the switch to renewable energy effortless. As of 2023, CMHL through its subsidiaries has a portfolio of around 80 MW of operating solar capacity in Asia and is committed to increasing installed solar capacity in emerging markets in SE Asia. For additional information, please visit www.nefinco.com

For further information, please contact:

CMHL
Gillian Ng
marketing@nefinco.com

UPTHEREEVERYWHERE
Lina Hung
lina@upthereeverywhere.com

Gillian Ng
Canis Majoris Holding Limited
email us here