Hogan Lovells advises on the $80 million financing to boost solar and battery storage projects in Southeast Asia

Pentagreen is the sustainable infrastructure debt financing platform established by HSBC and Temasek in 2021. BII is the UK’s development finance institution and impact investor. ib vogt is a leading utility-scale solar development platform with a global footprint and a 20-year track record.

This partnership addresses a significant funding gap, enabling the swift deployment of senior debt from HSBC and supporting the parallel development of clean energy projects. The funds will be used by ib vogt to cover development expenditures, as well as post-funding and pre-funding capital expenditures for eligible projects. The facility is a key component of ib vogt’s strategic objective to build a leading independent power producer platform, owning and operating solar PV and battery storage projects.

Commenting on the transaction, Hogan Lovells partner Kaveeta Sandhu said: “We are honored to support this partnership, which aims to catalyze greenfield projects in Southeast Asia. The facility will provide ib vogt with significant value-adding opportunities, including new revenue streams, cross-selling, margin compression, and asset optimization. This matter showcases the strengths of Hogan Lovells' integrated team in handling complex projects and underscores the firm's commitment to advancing energy transition.”

The Hogan Lovells team was led by partner Kaveeta Sandhu (Banking & Loan Finance, Singapore) with support from counsel Stephen Clugston (Infrastructure, Energy, Resources & Projects, Singapore), senior associate Prateek Jauhari (Banking & Loan Finance, Singapore) and associates Yen Ng (Banking & Loan Finance, Singapore) and Josh Everett (Infrastructure, Energy, Resources & Projects, Singapore).