The Asian Infrastructure Investment Bank (AIIB) has approved an investment of up to US$120 million in the Seraya Southeast Asia Energy Transition and Digital Infrastructure Fund, which aims to support the region’s green energy transition and technology-enabled infrastructure development, and to improve cross-border digital connectivity within Asia.

The fund aims to allocate its investments in digital infrastructure (for example, data centres) and energy transition opportunities (for example, offshore wind farm vessel operations, transport electrification opportunities, low energy building solutions and other related subsectors).

While green energy transition is the centrepiece of global efforts to achieve sustainable development, address climate change and accelerate a new age of inclusive, low-carbon growth, the fund is expected to contribute toward the reduction of greenhouse gas emissions and achievement of net-zero targets through increasing renewable energy capacity.

Urjit R. Patel, AIIB vice-president, investment operations (region 1), says: “AIIB is committed to catalyzing the flow of capital toward renewables and energy transition-related infrastructure to build a more resilient and sustainable energy system for our members.”