The Monetary Authority of Singapore (MAS), Clifford Capital and the U.K.-headquartered Private Infrastructure Development Group (PIDG) have announced that the Energy Transition Acceleration Finance partnership (ETAF) has achieved its first close with $250 million in committed capital for its displacement strategy.
The ETAF is a blended finance fund under Singapore’s Financing Asia’s Transition Partnership (FAST-P) initiative. To address different transition pathways in Asia, ETAF adopts a displacement strategy which supports investments in grid modernization and other energy transition infrastructure projects to accelerate the displacement of fossil fuel-based power generation; and a replacement strategy focusing on replacing coal-fired power generation with lower-emissions power sources.
Through blended finance and risk-sharing mechanisms, ETAF seeks to mobilize capital into earlier-stage or higher-risk energy transition infrastructure investments where financing
