SINGAPORE - Media OutReach - 22 January 2019 - Singapore's WEnergy Global Pte Ltd, ICMGPartners Pte Ltd and GreenwayGrid Global (GGG) Pte Ltd, an investment company with Japan's Tokyo ElectricPower Company PowerGrid Inc (TEPCO-PG) as one of the major shareholders,said today that they have formed a Singapore-based investment entity of US$60million.

From (L) Atem Ramsundersingh, CEO of WEnergy Global; Shinichi Imai, TEPCO PowerGrid's MD of Int'l Business Development Unit; Gen Funahashi, ICMG Director

This entity will finance and operate renewable energyprojects in Southeast Asia, of which US$20 million has been made available forshort term deployment.

This newly formed Singapore company, CleanGrid PartnersPte Ltd, aims to build and manage a portfolio of electrification projectsvalued at about US$100 million within three to four years.

WEnergy Global, one of the principal shareholders of thenew company, has already set the stage by being an initiator for a microgridproject in Palawan in the Philippines, to be part of this electrification plan. 

CleanGrid Partners Pte Ltd has three equal shareholders:

• WEnergy Global Pte. Ltd, aSingapore headquartered company that has taken on several public and privatesector clean electrification projects in the region.
• ICMG Partners Pte. Ltd., aglobal management consulting firm with operations in Singapore, Tokyo, Shanghai andSilicon Valley, focused on achieving sustainable growth through intellectualcapital management including corporate leadership development, corporateinnovation and new business creation; and
• Greenway Grid Global PteLtd., based in Singapore and with TEPCO PowerGrid Inc. as one its mainshareholders, aims to promote happiness and green growth in communities throughtangible investments in microgrid projects within the SEA region and utilizethe fields for incubation business and human resource development.

CleanGrid Partners is a first for Greenway GridGlobal, set up in 2018 as it will inject its technical knowhow andresearch & development strengths into the new company which is solelyfocused on Southeast Asia.

WEnergy Global, set up in 2012, is a Singaporeengineering and investment company largely focused on identifying, designing,building and operating renewable energy microgrids in Southeast Asia.

ICMG Partners aims to bring in new global corporateleaders and innovative technologies in order to enhance theelectrification throughout Asia. The company is fully equipped to bringpartners from different sectors and countries together to address regional andglobal challenges with new business models and structures.

Several other projects in the Philippines, Indonesia andMyanmar are already in the pipeline. CleanGrid Partners is aiming at enabling arapid replication of the Palawan project in several other places in SoutheastAsia to meet the demand for off-grid and decentralised electrification. InSingapore, the partners aim at engagements in smart micro-grids at industrialestate level.

Mr Atem S. Ramsundersingh, CEO of WEnergy Global, said:"WEnergy Global knows that the problem of a lack of access to electricityremains a chronic problem in the region. The near-term solution that deliverson immediate on-the-ground benefits is to build, own and operate smartmicro-grids for off-grid electrification, which most multilateral agencies,investment companies and mega power companies are reluctant to embark on. Ournew partnership will combine WEnergy Global's on-the-ground knowledge andpioneer's experience in ASEAN with the best-of-breed smart technologies thatthe likes of TEPCO-PowerGrid already owns."

Mr. Gen Funahashi, Director of ICMG Partners: "We believethat investors, development and commercial banks and technology manufacturersworldwide must address the challenge to electrify the one billion people on ourplanet who have no or little access to electricity -- of which over 100 millionpeople live in Southeast Asia. We can make an impact by leveraging on the bestavailable intellectual capital and transforming the management mindset ofcompanies and governments to bring innovative clean energy solutions to thispart of the world".

Mr. Shinichi Imai, TEPCO PowerGrid's Managing Director ofInternational Business Development Unit and Greenway Grid Global Chairman,said: "Collectively, the Group aims to contribute to achieving the SustainableDevelopment Goals (SDGs) and the targets set in the Paris Agreement for ClimateChange through innovation."

Mr. Yoshinori Kaneko, President of TEPCO PowerGrid,said: "Utilizing the technology and knowledge gained in the transmissionand distribution sector in Japan, we promote investment in smart powerinfrastructure that brings vitality to the global community for green growth."