ib vogt and ACEN have agreed to set up a platform to fund the construction and operation of large-scale solar power plants throughout Asia, subject to applicable regulatory approvals. The joint venture partners will focus on late-stage, shovel-ready projects in Indonesia, Vietnam, Malaysia, Laos, Bangladesh, and other countries in the region. The majority of projects will stem from ib vogt’s Asia development pipeline of more than 5,000 MW with initial projects planned to go into construction during 2022. The platform will also be open to acquire late-stage projects from local and regional developers.The venture targets a minimum operational capacity of 1,000 MW over the coming years with the potential for further extension. Under the terms of the deal, ACEN expects to invest up to US$ 200 million equity investment in addition to debt funding to accelerate the deployment of renewable energy in Asia.