(Yicai) July 28 -- PCG Global, a renewable energy infrastructure company founded in Singapore by the team behind Chinese distributed energy operator PCG Power, has secured its first external capital.

The Pre-Series A fundraiser was led by GenZero, an investment platform under Singapore's Temasek focused on accelerating decarbonization, PCG Global announced yesterday. The proceeds will be used to accelerate PCG Global's expansion across Southeast Asia, Oceania, and the Middle East, the firm noted, without disclosing the raised amount and its valuation.

Temasek was one of PCG Global's founding shareholders, but GenZero operates autonomously, meaning that this financing round was carried out independently of Temasek's earlier shareholding arrangements, a company spokesperson told Yicai.

"This round reflects institutional confidence in our ability to translate proven distributed energy capabilities into high-quality outcomes beyond China," said Li Wenxuan, chairman and chief executive officer of PCG Power. "We look forward to building renewable energy infrastructure that delivers lasting impact across Southeast Asia, Oceania, and the Middle East, and are grateful for the support from GenZero."

"This investment reflects GenZero's continued support of companies and solutions which can scale the development of clean energy globally," said Kimberly Tan, head of investments at GenZero. "The PCG team has demonstrated strong capabilities across fundraising, project development, and operational execution since its establishment."

PCG Global has about 1.8 gigawatts of projects in various stages of development, spanning distributed solar, utility-scale power plants, behind-the-meter energy storage, and smart energy management. Its offerings cover the full project lifecycle, from financing and development through operations, maintenance, and carbon asset management.

Indonesia, the Middle East, and Morocco hold the largest project pipelines, with utility-scale projects in the regions reaching several hundreds of megawatts each, the spokesperson noted. PCG Global's first grid-connected project is located at the Qingshan Industrial Park in Sulawesi, Indonesia, with a capacity of about 10 MW. Projects in New Zealand are smaller in scale but more profitable, benefiting from local electricity prices.

PCG Global and PCG Power operate as two independent companies, each with its own governance structure and financial system, though they maintain a cooperative relationship in branding, technology, and supply chains, the spokesperson explained. Technology and supply chain transactions between the two are conducted on an arm's-length basis.

While PCG Power's team was the founding party behind PCG Global, the former has not seconded any executives to the latter, which has a team of just 40 to 50 employees at the moment, according to the spokesperson.

Editor: Futura Costaglione