Singapore-based Asia Energy Transition Platform (AETP), advised by Climate Smart Ventures, has invested in Maraj Energy and Development Corp., a renewable energy developer active in the Philippines, through an equity bridge loan to support pipeline expansion and project advancement.

Founded in 2016, Maraj Energy and Development Corp. is developing utility-scale and distributed renewable energy projects across solar, wind, and related technologies, with a pipeline exceeding 1.5 GWp.

The company has previously partnered with and attracted investments for major projects, including the 500MW Real Wind Energy project and the 200MW Mapanuepe Floating Solar project.

The company operates within the early-stage development layer of the renewable energy value chain, where projects are typically progressed through permitting, site development, and initial structuring before being transitioned to larger-scale investors and power developers.

Its track record includes participation in the early-stage development of the 500MW Real Wind Energy project in Quezon, a special purpose vehicle that was later fully acquired by ACEN Corporation in 2024.

The latest funding from AETP will support Maraj’s next phase of development as it advances selected projects toward late-stage readiness and potential strategic partnerships.

“The Philippines requires experienced local developers capable of originating, de-risking, and advancing large-scale renewable energy projects. AETP’s investment supports Maraj’s strategy of building a diversified renewable energy platform with a strong pipeline across solar, wind, floating solar, and retail electricity supply.” said Mark James A. (pictured), Chief Executive Officer of Maraj. 

“This investment provides Maraj with additional growth capital to accelerate project development, strengthen execution capacity, and expand our renewable energy pipeline in support of the Philippines’ energy transition,” he added.

AETP said Maraj’s development track record and pipeline scalability aligned with its investment strategy.

“Maraj has demonstrated strong project development capabilities and is building a pipeline that can be scaled with the right capital partners, making it a compelling fit for AETP’s investment strategy,” said Lawrence Ang, Director at AETP. “Through this investment, we aim to support Maraj in advancing its near-term projects and preparing the platform for its next phase of growth.”

The Philippines continues to target a higher share of renewable energy in its power mix, aiming for 35% by 2030 and 50% by 2040, supported by mechanisms such as the Green Energy Auction Program, renewable portfolio standards, and liberalised foreign ownership rules in the sector.

What does increased foreign-backed development capital mean for scaling utility-scale renewables in the Philippines’ next phase of the energy transition?

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