EAAIF Provides $50 Million to Accelerate Ukko Renewable Projects in Southeast Asia

The Emerging Africa & Asia Infrastructure Fund (EAAIF), managed by Ninety One, has committed up to $50 million of senior secured debt to Ukko Renewable, the Southeast Asian platform of Groupe Duval. The financing will support an initial pipeline of more than 2 GW of wind, solar and hydropower projects across Vietnam and the Philippines, part of a broader portfolio exceeding 3 GW. The funding is aimed at moving projects to a ready‑to‑build stage by covering site identification, permitting, grid studies and early engineering work.

When operational, the targeted projects are expected to avoid about 2.2 million tonnes of CO₂ per year and serve over 2.8 million end‑users. Philippe Valahu, CEO of the Private Infrastructure Development Group, said, “Supporting early‑stage project development is a key pillar of PIDG’s 2023‑30 strategy to accelerate a just transition to net‑zero emissions across South and Southeast Asia.”