Financing secured for Timor-Leste's first utility-scale solar-plus-storage project
Type: Financing · Technology: Hybrid · Country: Timor-Leste · Capacity: 73.7 MW · Value: $85.7M · Announced: 2026-07-30
A $85.7 million financing package has been secured for a 73.7 MW grid-connected solar plant coupled with an 80.2 MWh battery energy storage system in Timor-Leste. The funding will support the development, construction, operation, and maintenance of the solar-plus-storage system, along with associated transmission lines and ancillary facilities. Manatuto Renewables Power, a joint venture between French utility EDF and Japan’s Itochu Corporation, will operate the project. The financing includes senior loans from the Asian Development Bank ($17.5 million), the International Finance Corporation ($27.2 million), and the Japan International Cooperation Agency ($17.5 million). Concessional loans totaling $30.4 million were provided by ADB’s Leading Asia’s Private Infrastructure Fund 2 and the Canadian Climate and Nature Fund for the Private Sector in Asia, with an additional $30.4 million from the World Bank Group’s International Development Association’s Private Sector Window and the IFC Concessional Capital Window.
Counterparties
- IFC Concessional Capital Window (Lender)
- Manatuto Renewables Power (Borrower)
- EDF (Parent Company)
- ADB’s Leading Asia’s Private Infrastructure Fund 2 (Lender)
- International Finance Corporation (IFC) (Lender)
- Asian Development Bank (ADB) (Lender)
- Canadian Climate and Nature Fund for the Private Sector in Asia (CANPA) (Lender)
- Japan International Cooperation Agency (Lender)
- ITOCHU Corporation (Parent Company)
- World Bank Group’s International Development Association’s Private Sector Window (Lender)
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