Singaporean lender DBS is providing a US$210 million senior financing facility to ETAFCo, the investment vehicle supporting the displacement strategy of the Energy Transition Acceleration Finance ( ETAF ) partnership under Singapore’s Financing Asia’s Transition Partnership ( Fast-P ) initiative.

The ETAF partnership, managed by Clifford Capital, mobilizes concessional and private capital, the bank notes, to accelerate the deployment of clean energy and energy transition projects across Asia.

The financing marks the first loan extended to ETAFCo, with the bank as the fund’s inaugural senior debt financier. With the transaction, the bank becomes the only commercial lender to support two partnerships within the Fast-P initiative – underscoring the bank’s continued commitment towards enabling Asia’s energy transition.

Earlier, the bank had also contributed US$75 million to Fast-P’s flagship blended finance programme Green Investments Partnership managed by Pentagreen Capital, serving as the lead coordinator for its senior tranche.

The Fast-P initiative, launched by the Monetary Authority of Singapore, brings together public, private and philanthropic capital to help address Asia’s infrastructure needs by using blended finance structures to mobilize commercial and concessional capital towards green and transition investments.

The ETAF partnership was established to mobilize blended finance for Asia’s energy transition by supporting different pathways to reduce reliance on coal-fired power generation.  Its displacement strategy supports emissions reduction by financing renewable energy, grid modernization, energy storage and other clean energy solutions that reduce reliance on, and use of, coal-fired power generation. Its replacement strategy supports the managed phase-out of coal by financing renewable energy, energy storage and supporting grid infrastructure to replace coal-fired power generation over time.

In its first phase, ETAFCo will focus on investments in clean energy transition and grid infrastructure projects to advance displacement. By improving risk allocation and supporting bankable transition infrastructure, ETAFCo seeks to mobilize additional pools of capital for Asia’s energy transition.

“We believe that sustainability is not a parallel agenda, but a core driver of long-term value,” Han Kwee Juan, the bank’s group head of institutional banking. “When approached pragmatically, it strengthens economic competitiveness, improves lives and builds resilience for the future.”