SINGAPORE (Reuters) – KKR, Global Infrastructure Partners (GIP) and the Indo-Pacific Partnership for Prosperity have formed an alliance to invest $25 billion in infrastructure in the Indo-Pacific region, U.S. Commerce Secretary Gina Raimondo said on Thursday.
Raimondo, who was speaking in Singapore, said the investment will include green data centers in Indonesia, renewable energy in the Philippines, and smart meters and hybrid renewables in India.
“The members of the Indo-Pacific Economic Framework will help facilitate the identification, promotion and development of successful infrastructure projects across the region,” the three organizations said in a joint statement.
The alliance will initially focus on investing broadly in infrastructure across the energy, transport, water, waste and digital sectors, they said in the statement.
The statement showed that private equity firms KKR and GIP will co-chair the initiative, while global investors including BlackRock (NYSE:), GIC, the Rockefeller Foundation and Temasek will be part of the alliance.
More than $23 billion in investment opportunities have been identified through the Indo-Pacific Economic Framework (IPEF), Raimondo said.
Investment opportunities including 69 projects in “sustainable infrastructure” have been identified at the IPEF investor forum, Singapore's Ministry of Commerce, which organized the forum, said on Thursday.
The ministry said: “Among these projects, 20 investment-ready projects worth about $6 billion were offered to investors. The remaining projects worth about $17 billion were also identified as potential investment opportunities.”