Dechert Advises Clime Capital on First-of-its-kind Philanthropic Fund Launch for South East Asia Clean Energy Facility (SEACEF)

Dechert has advised Clime Capital Management Pte. Ltd., a Singapore-headquartered fund management company, on the launch of a first-of-its-kind philanthropic funding initiative for the South East Asia Clean Energy Facility (SEACEF). The initiative aims to crowd over US$2.5 billion of private investments for clean energy projects in Southeast Asia, with an initial focus on Vietnam, Indonesia, and the Philippines, to accelerate the low-carbon transition in the region.

Dechert acted as legal advisor to Clime Capital on the structuring and formation of the fund, including negotiations with investors. Supported by leading international climate foundations, the fund is a timely intervention to provide critical early-stage capital for transformational new clean energy projects in Southeast Asia amid uncertainties around financing from traditional investors as a result of the pandemic. 

Commenting on the deal, Dean Collins, managing partner, Singapore at Dechert LLP, said, “We are pleased to have supported Clime Capital in this first-of-its-kind fund launch for SEACEF to secure meaningful funding for clean energy projects in the region at a critical time. This transaction once again demonstrates the breadth of Dechert’s investment fund practice, in particular with respect to our expertise in the formation of private equity infrastructure funds.”

Clime Capital’s director and head of investments, Joshua Kramer added, “We are grateful for a firm with Dechert’s calibre to have advised Clime Capital through our set-up and close process. From the start, it was apparent that Dechert understood and saw the value in SEACEF’s mandate to achieve leveraged climate impact in Southeast Asia. The advice provided by the Dechert team has been invaluable for the establishment of SEACEF.” 

The core Dechert team was led by Singapore-based partner Dean Collins and supported by associates Albert Tse and Xuanyi Liu.

SEACEF is a collaboration between international foundations which provides early-stage catalytic funding to address climate change. Its early-stage funding targets globally proven technologies and business models such as solar, wind, energy storage, as well as other business models that accelerate the low carbon transition, including electric mobility, demand side management technology, energy efficiency in buildings and clean energy transmission infrastructure.

About Dechert

Dechert is a leading global law firm with 26 offices around the world. We advise on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.