The Emerging Africa & Asia Infrastructure Fund (EAAIF) has signed a senior secured debt facility of up to $50 million with Ukko Renewable in Southeast Asia. The financing will support the development of an initial renewable energy pipeline exceeding 2 GW, forming part of a broader 3 GW-plus portfolio of wind, solar and hydropower projects across Vietnam, the Philippines and other Southeast Asian markets.
Moreover, the funding will help bring projects to a ready-to-build stage. Additionally, Ukko Renewable has secured an initial 1.4 GW pipeline in Vietnam, expanding to 2.1 GW, alongside wind and hydropower assets in the Philippines. Once operational, the initial portfolio is expected to avoid around 2.2 million tonnes of carbon emissions annually and provide clean electricity to more than 2.8 million end-users.
In July 2026, the EAAIF approved a $30 million senior secured corporate loan to Hassan Allam Utilities. The financing will support the 1,000 MW Minya solar project with a 660 MWh battery energy storage system (BESS) in Egypt. The project is being co-developed with Infinity Power.
