PGC Green Investment LP (FMO-64592)

Regions
  • East Asia and Pacific
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Aug 22, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Pentagreen Capital Fund Management Pte. Ltd.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Communications
  • Energy
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 24.99 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 1,000.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Sep 25, 2025

Disclosed by Bank Mar 14, 2025

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the FMO, GIP provides a mix of medium- and long-term financing through senior secured, unsecured, mezzanine, and subordinated debt instruments in high-impact sectors, primarily energy utility and storage, C&I, e-mobility, waste, water, and data centers. The Fund targets transactions in Southeast Asia and South Asia, with key markets to include Indonesia, the Philippines, Thailand, Malaysia, and Vietnam.

The capital flows into Asia's green economy are constrained by various factors, especially higher perceived risks in emerging markets, insufficient return for such risks, and the complex, fragmented ecosystem with many smaller projects. These factors pose a challenge to attracting the required climate finance debt volumes. The Fund's strategy is to provide a blended finance platform to finance marginally bankable green infrastructure projects in emerging Asia and catalyze capital flow to parts of the market where it is most needed and lacking. FMO's role as an anchor investor in the Fund's first closing will contribute to the mobilization of private capital.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

As stated by the FMO, this transaction is labeled as Environmental & Social (E&S) risk category A, as the Fund is open to considering some potentially E&S category A investments, such as hydropower and solid waste management. A fair portion of the pipeline projects, which include sectors like wind, PV solar, electrical generation, and wastewater, could be considered category B+. As the precise location and scale of the potential customers to be financed by GIP are not yet known, potentially all IFC Performance Standards are applicable. The fund manager will be required to develop a full-fledged Environmental and Social Management System and assign qualified staff to ensure that all GIP investments comply fully with FMO's E&S standards.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the FMO, Green Investments Partnership is a closed-ended debt fund of up to USD 1 billion to be managed by Pentagreen Capital Fund Management Pte. Ltd., a 50%-50% venture of HSBC and Temasek. GIP is one of the blended finance programs under Financing Asia's Transition Partnership launched by the Monetary Authority of Singapore to address climate finance gaps in emerging Asia.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Temasek Holdings Pte Ltd Parent Company Finance contracts with HSBC Bank Plc Parent Company Finance

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Financial Intermediary - Pentagreen Capital Fund Management Pte. Ltd.:

Email: contact@pentagreen.com
Website: https://www.pentagreen.com/about-us.html 

ACCESS TO INFORMATION

As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@fmo.nl

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW). A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism

How it works

How it works