Billionaire Hohn-Backed Fund Seeks to Boost Clean Energy in Asia

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(Bloomberg) — Philanthropic groups including billionaire Chris Hohn’s Children’s Investment Fund Foundation are backing a plan to support clean energy projects in Southeast Asia as access to traditional finance is squeezed by the pandemic-driven downturn.

The South East Asia Clean Energy Facility has won an initial investment of $10 million from the groups, which also include the Sea Change Foundation International, the Grantham Foundation, Bloomberg Philanthropies and others, and will seek to raise a further $40 million, according to a statement released Tuesday.

It’s an effort intended to help solar, wind and energy storage projects navigate the impact of the Covid-19 outbreak, according to Imraan Mohammed, head of impact investing at Hohn’s CIFF. “Impact investors and foundations are stepping up to bridge the gap, catalyze other sources of funding and ensure the transition to clean energy in…

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