(Reuters) -Singapore’s Keppel is partnering with the Asian Infrastructure Investment Bank for $1.5 billion of sustainable infrastructure investments and financing opportunities in the Asia Pacific region, it said on Wednesday.
The asset manager and operator said the partnership will enable it to focus on developing infrastructure projects in sectors including power transmission and distribution and renewable energy, amongst other sustainability-linked infrastructure.
Keppel said it intends to cover projects across developing economies in the Asia Pacific region alongside the Asia-focused lender.
The partnership comes as the region is poised to see an uptick in demand for infrastructure as companies look to build energy-intensive data centers in the region.
“Despite increasing investments in green infrastructure and connectivity, a significant infrastructure gap persists across Asia Pacific, driven by the urgent demands of a growing and rapidly urbanising population”, said Christina Tan, Keppel’s chief executive officer.
(Reporting by Nichiket Sunil in Bengaluru; Editing by Mrigank Dhaniwala)
