Growth Markets

The organisation will also consider co-investing an additional $50m alongside the fund on a deal-by-deal basis.

Should Andhra Pradesh - a state at the forefront of the renewables sector in the country - succeed in slashing tariffs, projects with a capacity of more than 2.5GW are at risk of defaulting.

Based in Seoul, Keith Kim has joined the team led by another Macquarie veteran David Luboff.

Philippine energy producer AboitizPower is aiming to expand its portfolio of renewable energy assets in South-East Asia.

The asset manager will target core assets in developing countries and core-plus deals in developed markets.

The assets, valued at $3.6bn, will be acquired through an infrastructure investment trust set up by owner Reliance Industries.

The credit portfolio, which is targeting total returns of 5-7 percent, aims to boost awareness of environmental, social and governance issues in emerging Asian markets.

China is trailing behind its neighbour in infrastructure projects across the region by $66 billion, notwithstanding Beijing's Belt and Road Initiative.

The fund manager will look to attract institutional capital to invest in the new company, while its management team will hold a ‘significant minority stake,’ a source said.

The 216MW run-of-river project, expected to increase power supplies by a third, had to be redesigned after a 2015 earthquake destroyed early construction works.