The Monetary Authority of Singapore, Clifford Capital and the Private Infrastructure Development Group have announced the first close of the Energy Transition Acceleration Finance partnership, raising $250 million in committed capital for its displacement strategy.
ETAF is a blended finance fund under Singapore’s Financing Asia’s Transition Partnership initiative, known as FAST-P. The fund is designed to support energy transition infrastructure investments across Asia, including grid modernization and other projects aimed at accelerating the displacement of fossil fuel-based power generation.
The partnership also includes a replacement strategy focused 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 projects where financing may not otherwise be available at sufficient scale, tenor or risk
