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IFC’s Renewable-energy Partner in Indonesia Receives Top Industry Award

Jakarta, Indonesia, March 2, 2016 —IFC, a member of the World Bank Group, congratulated partner company Asia Green Capital Partners Pte Ltd, a renewable-energy developer and investment company, on receiving yesterday the prestigious Developer of the Year award for Asia Pacific from Infrastructure Investor, the leading industry news service that covers the world's infrastructure markets.
Asia Green Capital Partners develops clean energy and adheres to IFC’s high international standards in its commitment to addressing the gap in Asia’s power generation capacity. The company’s projects include developing one of Indonesia’s first grid-connected wind farms. Indonesia has one of the lowest electricity supply rates in South East Asia. About 15 percent of the population has no access to a reliable source of electric power, which has slowed the country’s development.
"We are delighted that Asia Green Capital Partners has been awarded this important industry recognition as Developer of the Year for Asia Pacific”, said IFC Country Manager for Indonesia Sarvesh Suri. ”We are co-developing renewable projects with Asia Green Capital Partners, notably the Jeneponto 1 wind farm in South Sulawesi, which is the first in a series of projects that will help the government increase the installed generation capacity in Indonesia using green energy".
The Indonesia government aims to increase the country’s electrification ratio to 99 percent from 84 percent by 2020 and to channel more investments into the clean-energy sector to diversify its energy sources and reduce carbon emissions.
“Asia Green Capital Partners Pte Ltd started developing its first renewable energy projects in Indonesia in 2012 and today, our project portfolio has expanded throughout the South East Asia region. We are pleased to receive this award from Infrastructure Investor as a recognition of our contribution to the Indonesian and regional renewable energy industry”, said Asia Green Capital Partners’ managing director Edgare Kerkwijk. “The fact that we develop all our projects according to IFC’s performance standards gives us an edge in the different local markets where we operate.”
As part of its commitment to supporting the government of Indonesia in increasing the country’s electricity generation capacity, IFC has worked with Asia Green Capital Partners since May 2014, co-developing wind power projects and other renewable energy projects in the region through IFC InfraVentures, a $150 million global infrastructure development fund that aims to increase the pipeline of bankable projects in developing countries.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence, to create opportunity where it’s needed most. In FY15, our long-term investments in developing countries rose to nearly $18 billion, helping the private sector play an essential role in the global effort to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org
About Asia Green Capital Partners
Asia Green Capital Partners is a dedicated project developer committed to investing in clean-energy infrastructure assets that leave a long-term positive impact on society and the natural environment. The firm has a special focus on the development of wind and solar projects in South East Asia.
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