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BlackRock backs Malaysian-based solar systems provider Ditrolic Energy

image via Digital News Asia


KUALA LUMPUR: Ditrolic Energy Holdings Sdn. Bhd. (Ditrolic Energy) has ignited a dynamic partnership with BlackRock’s Climate Finance Partnership (CFP), a leading public-private finance vehicle, to propel Ditrolic Energy’s expansion in developing commercial and industrial (C&I) and utility-scale solar assets across emerging markets in Asia Pacific.


The agreement, a collaboration with global asset management giant BlackRock, signifies a pivotal moment for Ditrolic Energy's ambitious plans. The partnership, part of CFP's mission to channel blended capital into climate infrastructure, is set to boost Ditrolic Energy's capacity to build a targeted 1 GW+ pipeline of solar projects.


CFP, a collaboration between BlackRock and the development finance institutions of France (AfD), Germany (KFW), Japan (JBIC), and other impact organisations, focuses on mobilising substantial capital into climate infrastructure. They aim to invest in non-OECD countries across Asia, Latin America, and Africa.


The strategic investment from BlackRock will propel Ditrolic Energy towards achieving a total capacity of 5GW+ in solar projects. This expansive pipeline will span Malaysia, Bangladesh, Indonesia, and the Philippines, contributing significantly to the energy transition in the region.


Tham Chee Aun, founder and group CEO of Ditrolic Energy, expressed gratitude for BlackRock's support, emphasising the role of the investment in rapidly scaling up operations. He stated, "With the capital raised and private investment to be mobilised, Ditrolic Energy would be in a prime position to undertake key energy transition projects in Malaysia and other Southeast Asia countries."


Valerie Speth, APAC co-head of Climate Infrastructure at BlackRock, highlighted Ditrolic Energy's proven track record in solar development within the diverse region. She sees the partnership as an opportunity to mobilise more capital into climate infrastructure in emerging markets, aligning with global ambitions to achieve net-zero economies.


Ditrolic Energy, founded in 2009, has emerged as a key player in the solar industry, boasting a portfolio of over 300MW across commercial, industrial, and government projects in Southeast Asia and South Asia regions. This collaboration with BlackRock's CFP positions Ditrolic Energy at the forefront of the solar revolution in the Asia Pacific.

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