Temasek Trust invests $66.9 million in Japanese solar energy firm
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Temasek Trust is a steward of philanthropic assets from Singapore state investment company Temasek and other donors.
PHOTO: ST FILE
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Hong Kong - Temasek Trust has agreed to invest US$50 million (S$66.9 million) in an HSBC Asset Management-owned Japanese solar energy company.
ABC Impact, a unit of the Singapore firm, will acquire a stake in Tokyo-based Tekoma Energy, spokespeople for ABC Impact and HSBC confirmed. Tekoma will use the new fund to develop and upscale solar photovoltaics projects.
Impact investing has been one of the most talked strategies among global funds. While in Asia managers are trying to expand their impact investing portfolio, funds in Europe and the United States are dealing with stricter rules regarding standards and disclosure practices.
Temasek Trust is a steward of philanthropic assets from Singapore state investment company Temasek and other donors. Its unit ABC Impact manages more than US$850 million. It secured some US$550 million for its second impact fund in January.
Tekoma started in Japan in 2013 and expanded to Taiwan in 2018. HSBC’s energy transition infrastructure team first acquired the company in 2023.
HSBC Asset Management has US$765 billion in portfolio as at the end of September. It manages US$70 billion in strategies on environmental, social and governance, as well as sustainability in 2023. BLOOMBERG
