Pentagreen’s blended finance platform scales as the region searches for bankable climate solutions
The race to finance Asia’s energy transition is accelerating, and Singapore is positioning itself at the center of the effort.
Pentagreen Capital, the sustainable infrastructure financing platform established by HSBC and Temasek, announced the second close of its Green Investments Partnership (GIP), bringing total committed capital from $510 million to $800 million.
The milestone positions GIP as one of the largest privately managed blended finance platforms focused on Asia’s green infrastructure transition.
A Platform Designed to Unlock Capital at Scale
The initiative operates under Singapore’s Financing Asia’s Transition Partnership (FAST-P), launched by the Monetary Authority of Singapore to mobilize public, private, and philanthropic capital for climate and sustainable infrastructure projects across developing Asia.
The latest round brought in new participation from DBS Bank and Cathay United Bank, while several existing partners expanded their commitments.
At the center of the strategy is a growing recognition that traditional finance alone is unlikely to close Asia’s massive climate infrastructure gap.
Developing economies across the region require an estimated $1.7 trillion annually in infrastructure investment through 2030 to meet both development and climate goals. Yet many projects remain marginally bankable, struggling to attract commercial capital due to perceived risks, long timelines, or underdeveloped markets.
Blended Finance Moves from Concept to Necessity
Blended finance aims to solve that problem by using concessional or catalytic capital to absorb risk and unlock significantly larger pools of institutional investment.
The Green Investments Partnership is designed specifically around that model. Through a tiered capital structure, the platform seeks to de-risk sustainable infrastructure projects in Southeast and South Asia, making them more attractive to banks, institutional investors, and private lenders.
Target sectors include renewable energy generation and storage, electric vehicle infrastructure, sustainable transport systems, and water and waste management.
Marat Zapparov, CEO of Pentagreen Capital, said the second close reflects growing momentum behind blended finance as a tool for the region’s transition.
“The growing number of partners demonstrates increasingly widespread recognition of the critical importance of blended finance to mobilising the funding required for Asia’s energy transition,” he said.
Singapore’s Strategic Bet on Climate Finance Leadership
The announcement reinforces Singapore’s ambitions to become a global sustainable finance hub and a central architect of Asia’s transition economy.
In recent years, Singapore has increasingly leveraged its financial system, sovereign capital ecosystem, and regulatory influence to position itself as a convening force for climate finance and green infrastructure investment. FAST-P represents one of its most ambitious attempts to bridge the gap between public climate goals and private capital deployment.
The platform’s international backing also reflects the increasingly geopolitical nature of climate finance, with participation from institutions including the International Finance Corporation, the European Commission, British International Investment, DEG, FMO, and Allied Climate Partners.
The Defining Question for the Energy Transition
For many governments and financial institutions, Asia is now one of the defining battlegrounds of the global energy transition.
The region contains some of the world’s fastest-growing economies and energy demand centers, while also facing acute vulnerability to climate disruption.
The challenge is no longer whether capital exists. It is whether financial systems can effectively channel it into projects that markets still perceive as too risky, too early, or too complex.
Singapore’s Green Investments Partnership is emerging as one of the clearest attempts to answer that question.
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