Investment Thesis
A systematic framework for capturing the Energy-to-AI opportunity with ESG at its core.
Core Investment Thesis
AI's explosive growth creates unprecedented demand for sustainable energy infrastructure. We invest across the complete value chain—from clean energy generation to AI services— targeting companies that enable carbon-free computing at scale while generating attractive risk-adjusted returns.
Total Addressable Market
$600B+
by 2030
Investment Themes
5
High-conviction themes
Scoring Dimensions
4
100-point framework
ESG Integration
100%
All investments scored
Investment Themes
Five high-conviction themes spanning the Energy-to-AI value chain
Geothermal
AI workloads require 24/7 reliable power that intermittent renewables alone cannot provide. ASEAN's geothermal resources (Indonesia #2, Philippines #5 globally) provide scalable zero-carbon baseload.
Market Size
$100B
by 2035
CAGR
9.1%
projected
Risk Level
Medium
Liquidity
Medium
Key Drivers
RE + Storage
Data centers are the largest corporate buyers of renewable energy. Solar/wind with storage can meet 50-70% of DC power needs cost-effectively.
Market Size
$200B
by 2030
CAGR
15%
projected
Risk Level
Medium
Liquidity
High
Key Drivers
Green DCs
The $800B APAC data center construction boom requires sustainable design. Operators with superior PUE/WUE will command premium valuations and tenant preference.
Market Size
$150B
by 2030
CAGR
19%
projected
Risk Level
Low
Liquidity
Medium
Key Drivers
Efficiency
Exponential growth in AI model size creates unsustainable energy demand. Investments in compute efficiency multiply the value of each kWh.
Market Size
$50B
by 2030
CAGR
25%
projected
Risk Level
High
Liquidity
Medium
Key Drivers
Grid Infra
Cross-border grid interconnections enable renewable energy sharing and optimize clean power utilization. ASEAN Power Grid is critical infrastructure for the AI boom.
Market Size
$100B
by 2030
CAGR
12%
projected
Risk Level
Medium
Liquidity
Low
Key Drivers
Scoring Framework
Systematic 100-point evaluation across four dimensions
Strategic Fit
Alignment with Energy-to-AI value chain and market positioning
ESG Impact
Environmental, social, and governance contribution and disclosure
Financial Return
Expected returns, cash flow visibility, and exit options
Risk Assessment
Technology, regulatory, counterparty, and execution risks
Score Interpretation
Investment decision framework based on total scores
85-100
Exceptional
Priority investment. Fast-track due diligence.
70-84
Strong
Active pursuit. Standard due diligence.
55-69
Moderate
Monitor and evaluate. Conditional interest.
<55
Below Threshold
Pass or require significant improvement.
ESG Integration
Environmental, Social, and Governance factors embedded throughout
Environmental
- •Carbon intensity reduction potential
- •Renewable energy percentage
- •Water usage efficiency (WUE)
- •E-waste management practices
- •Scope 1, 2, 3 emissions tracking
Social
- •Local job creation
- •Community impact programs
- •Digital inclusion initiatives
- •Worker safety standards
- •Supply chain labor practices
Governance
- •Board ESG oversight
- •Sustainability reporting standards
- •Climate risk disclosure
- •Executive ESG incentives
- •Regulatory compliance track record
Risk Management
Comprehensive risk assessment integrated into scoring
Market Risk
Energy price volatility, demand fluctuations, competitive dynamics
Technology Risk
Obsolescence, performance guarantees, integration complexity
Regulatory Risk
Policy changes, permitting delays, carbon pricing uncertainty
Execution Risk
Construction delays, cost overruns, supply chain disruptions
Counterparty Risk
Offtaker creditworthiness, contract enforceability
ESG Risk
Greenwashing exposure, stranded assets, reputational damage