The Asia Development and Investment Bank (ADIB) has announced a strategic equity investment in DeepGreenX, a green energy and technology firm. ADIB will provide the firm with $140 billion of engineering, procurement, construction, and data management projects and exclusive placement and management rights to a matching $140bn leasing fund over the next six years to support green energy projects.
Sam Yu Sun, chairman of DeepGreenX, CEO of ADIB, and president of ADIB commented: “Through this transaction, the Company is positioned to architect the infrastructure necessary to capitalize on the green energy transition, empowering public and private organizations alike to monetize environmental data. We are excited to be partnering with the talented team at DeepGreenX to unlock the enormous opportunity ahead.”
ADIB has made several investments in the clean energy sector. In April, it completed an equity investment of $100 million in TNB Genco, a subsidiary of Tenaga Nasional Bhd, a Malaysian national energy company, to expand its renewable energy portfolio. ADIB will partner on solar and wind investments in existing markets in Malaysia and the UK, as well as new markets such as Spain and Vietnam.
