About Armstrong

Armstrong Asset Management is an independent clean energy asset manager, committed to investing into clean energy infrastructure assets that leave a long term positive impact on society and the natural environment. We are a Singapore based firm, with an investment mandate dedicated to Asia Pacific.

Founded in 2010 Armstrong has established a leading track record of developing, financing, constructing and operating renewable energy projects across Southeast Asia. Key business attributes include:

Capital for investment is provided by Development Finance Institutions, Institutional Investors, Asian corporates and family offices. To date US$130m of equity has been deployed.

Experience in Thailand, Philippines and Vietnam sourcing and structuring local project finance to supplement its equity

To date Armstrong has funded the development and construction of 16 greenfield projects

To date Armstrong has successfully completed the trade sale of 11 operating solar projects to Asian Independent Power Producers

Variable investment structures are used to suit capital providers needs i.e. PE funds, co-investment vehicles and direct investment companies

Expanded geographical focus to Asia Pacific, including growth markets such as Korea and Taiwan

Why We Do What We Do

Energy demand will grow in Southeast Asia as much as 66% 2040. (IEA, 2018)

Unchecked, climate change could shave 11 percent off the region’s GDP by the end of the century as it takes a toll on key sectors such as agriculture, tourism, and fishing—along with human health and labor productivity. (ADB, 2015)

Southeast Asian coal demand is forecast to rise 5% yearly through 2023 for the fastest growth rate worldwide. (IEA, 2018)

Still, around 65 million people across the ten Association of Southeast Asian Nations countries are without access to electricity. Moreover, people in remote areas have access often via expensive and polluting diesel generators. (IEA, 2017)

South Korea targets 58.5GW of renewables by 2030 from the 15GW currently in operation.

Currently, Taiwan imports around 97% of its energy supply. To achieve its renewable energy target, the country needs to build approximately 27GW of new renewable electricity capacity, which it aims to do through a combination of offshore wind and solar power.

Asean as a whole has set for itself the target of having renewable energy contribute to 23 per cent of its energy mix by 2025. To reach this target, the region would need investments of US$27 billion per annum. (IEA, 2018)

CAPITAL SOURCES

A selection of equity and debt providers that have funded Armstrong projects and investee businesses:

RESPONSIBLE INVESTING

Environmental and social sustainability lies at the core of our investment policy. We believe that such an approach is not only the right thing to do in a world of increasing scarce natural resources but also helps to reduce risk and improve financial returns.

Our social and environmental policy is as follows:

To invest in renewable energy companies and projects that will improve people’s lives and the communities in which they live

To ensure these investments comply, where applicable, with the IFC Performance Standards for Environmental and Social Sustainability, dated January 2012

Through our environmentally and socially sustainable investment approach, improve and enhance the financial, reputational, and sustainability value of the companies in which we invest.

Armstrong has an integrated Social and Environmental Management System (SEMS). We screen all investment opportunities against our Exclusion List and carry out environmental and social due diligence using the IFC Performance Standards as the benchmark for environmental and social risk management.

Where necessary, we will work with our investee companies to implement an environmental and social policy and implement a SEMS. Once an investment is made, we will continue to work with companies to improve their environmental and social performance and monitor them for any environmental and social risk.

At all times Armstrong aspires to the highest of standards, continuously learning to ensure our activities have a positive impact and promote sustainability in all its forms.

Our annual sustainability report covers how we integrate ESG issues in our decision-making process and our engagement with prospective and investee companies on ESG initiatives. Please find the full report for download here

Feeding programmes and weigh-in for children in rural villages, Philippines

Public consultation with local community, Vietnam