Allard Nooy to step down as Chief Executive Officer (CEO) of InfraCo Asia, a company of the Private Infrastructure Development Group (PIDG). Chief Operating Officer (COO) Claudine Lim will assume additional responsibilities as Interim CEO.
The facility will support Cambodia’s growing import and export industries through international-standard cold storage services located near a port, and provide value-added services targeted at helping small-and-medium enterprises enter the trading market.
Japan-based renewable energy developer Renova Renewables Asia Pte Ltd and Philippines-based Sta. Clara International Corporation have committed funding to the 17.4MW Kiangan hydropower project, which is part of a 34MW portfolio.
InfraZamin Pakistan Limited, an initiative by the Private Infrastructure Development Group (PIDG), has been assigned the highest credit ratings possible by the Pakistan Credit Rating Agency (PACRA), with a long-term rating of AAA (Triple A) and short-term rating of A1+ (A One Plus). The strong positive rating by PACRA comes as InfraZamin is gearing up to launch business operations and lends further support for InfraZamin’s plans to develop the infrastructure financing market in Pakistan by offering credit enhancement solutions.
InfraCo Asia and AEPL, with support from developer team Equicap Asia, have brought into operations a 248kW distributed solar facility in Faisalabad, Pakistan under the joint venture Prism Energy. The commercial and industrial (C&I) solar project is the first of many for the Prism team, with several larger-scale projects (of up to 5MW) in the pipeline. Through Prism Energy, InfraCo Asia and AEPL aim to demonstrate the commercial viability of developing and implementing high-quality, commercial and industrial (C&I) solar power systems at scale in Pakistan.