Temasek expands energy transition scope
- Temasek said its energy-transition investing now extends beyond renewables to fuel cells, nuclear power and geothermal, according to sustainability chief Kyung-Ah Park. - Park said the shift reflects “a fundamental rewiring” of energy infrastructure, with Temasek backing Electric Hydrogen, Form Energy, Eavor and climate funds. - The push widens Temasek’s climate toolkit as data-center power demand rises and investors seek steadier clean-energy assets. (newprivatemarkets.com)
Temasek said its energy-transition strategy now goes beyond wind and solar to include fuel cells, nuclear power and geothermal energy. (newprivatemarkets.com) Kyung-Ah Park, Temasek’s chief sustainability officer, laid out that broader remit at the BloombergNEF Summit in New York on April 22, 2026. She said the transition now involves “a fundamental rewiring of the physical economy and the underlying infrastructure.” (newprivatemarkets.com) (about.bnef.com) Temasek’s direct holdings cited in the discussion included Electric Hydrogen, the United States electrolyser maker, and Form Energy, the long-duration storage company. Park also pointed to MEAL, Mahindra’s electric passenger-vehicle business. (newprivatemarkets.com) Geothermal is part of that mix already. Temasek says it invested in Eavor, which is developing closed-loop geothermal systems designed to deliver round-the-clock clean power. (temasek.com.sg) (eavor.com) The strategy is not limited to company stakes. Temasek also said it has committed capital to Brookfield’s Global Transition Fund, Brookfield Global Transition Fund II, Brookfield’s Catalytic Transition Fund, LeapFrog Climate Fund and KKR’s Global Climate Transition fund. (newprivatemarkets.com) Temasek has built separate vehicles around that theme over the past few years. It launched GenZero in 2022 to invest in decarbonisation opportunities and earlier formed Decarbonization Partners with BlackRock and Pentagreen Capital with HSBC. (temasek.com.sg) (genzero.co) (blackrock.com) (newprivatemarkets.com) Temasek’s own reporting shows how large the climate book has become. As of March 31, 2025, it held S$46 billion of investments aligned with its “Sustainable Living” trend, including S$7 billion classified as climate-transition investments. (temasek.com.sg) Park said rising electricity demand from large technology companies is changing the market for transition assets. She said hyperscalers are signing long-term power contracts, investing directly and in some cases buying energy companies outright. (newprivatemarkets.com) That helps explain why Temasek is talking about baseload and infrastructure-style technologies, not only intermittent renewables. The firm is framing the transition as a broader power-system buildout, with more routes to deploy capital and more potential exit paths. (newprivatemarkets.com)
