Cleantech Solar (Cleantech), established in 2014, is a leading Pan-Asia regional rooftop solar developer, owner and operator that offers full-service solutions to commercial and industrial (C&I) customers looking to reduce their carbon footprint. A rooftop photovoltaic power system is a system where electricity generating solar panels are mounted on the rooftop of a building (in this case commercial and industrial consumer buildings) and connected directly to the building’s power supply for usage. As this reduces the amount of power drawn from the grid (reduced electricity meter reading), such systems are commonly also known as ‘behind-the-meter’ systems.
Our Development Partner 

Cleantech Solar

We Invest

USD 101
million

Expected Construction Equity Funding

Estimated Project Impact
  • 450 MW  additional capacity
  • 636 GWh/year clean electricity
  • 474 510 tCO2eq/year emissions avoided
  • 400 construction jobs 
  • 572 060 people reached 

Funding Rationale

In September 2018 CEF made an equity investment into Cleantech Solar to support the role out of multiple C&I solar rooftop projects across Pan-Asia.
The portfolio and the pipeline projects are located in:
  • India
  • Cambodia
  • Philippines
  • Singapore
  • Thailand
  • Malaysia
  • Indonesia
  • Vietnam
Contract Signature
Date

May 2018

Expected Commercial
Operations Date

2021/2022

Region 

Pan Asia

Country

Pan Asia

Business Model 

Private Off takers

Technology  

Solar PV (Commercial & Industrial)

Environmental & Social Category

B

Sector

Solar PV (C&I)
(104 MW – 450 MW)

E&S Context

The environmental and social risk rating of the portfolio has been classified as Category B (in accordance with CI1’s risk categorization), which is equivalent to International Finance Corporation (IFC) Category B. This is due to the limited potential for adverse social or environmental impacts associated with the activities of the business (rooftop solar installations).
Individual assets may be rated differently; for example, open access solar sites in India are generally rated individually as Category B+. This reflects the potential for adverse environmental and social impacts that extend beyond site boundaries but are largely reversible and can be addressed through relevant mitigation measures.
CI1 continues to conduct assessments of the environmental and social impacts of new projects in development and provides guidance as required. Ongoing monitoring and review of CSA’s environmental and social performance is conducted, and various environmental and social initiatives are being undertaken. These include developing an environmental management system and contributing to research on sustainable disposal of end-of-life solar panels.

Site Photo