Climate Smart Ventures (CSV) and Netsolar Inc. have formed a joint venture targeting the development of a 44-megawatt distributed renewable energy portfolio in the Philippines over the next 12 to 24 months.

Under the joint venture and subscription agreement, the companies plan to invest in, develop, operate, and manage distributed renewable energy projects while raising debt and equity funding to partially finance and accelerate the pipeline.

The platform is expected to support renewable energy systems for commercial, industrial, private, and public-sector customers. Distributed energy projects typically involve smaller facilities, such as rooftop or on-site solar installations, built close to where electricity is consumed.

“I’ve always believed that scaling the energy transition means bringing three things together: customer demand, access to capital, and the capability to execute. This partnership does exactly that, and it aims to accelerate solar adoption across the Philippines,” Netsolar Director of Growth and Partnerships Lance Dy said.

Established in 2015, Netsolar said it has deployed more than 50 MW of solar capacity across over 220 projects nationwide. The company will contribute its experience in project development, engineering, and asset operations to the partnership.

CSV, meanwhile, will provide transaction advisory, sustainable finance, and capital-raising capabilities to help attract institutional funding for the projects.

“This partnership with Netsolar is a strategic step in our mission to accelerate energy transition in the Philippines through new business and financing models,” CSV Chief Financial Officer and Head of Philippine Operations Matt Carpio said.

Carpio added that the platform would focus on expanding renewable energy adoption among small to large private and public customers in the country.

The companies said the partnership could help lower energy costs for local businesses while reducing the carbon intensity of their electricity consumption.

They also positioned the venture as supporting the Philippines’ target of achieving a 50% renewable energy share in the country’s power mix.

Can CSV and Netsolar secure the financing and project pipeline needed to deliver the targeted 44 MW portfolio within the next two years?

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