Stephen Clugston is a partner in Trinity International’s Singapore office. He advises on investment, project development, and financing transactions in the energy and infrastructure sectors, with a particular focus on renewable energy and the energy transition across Asia-Pacific.

Stephen is particularly focused on structuring and executing capital and debt solutions to scale renewables in Asia. He works with developers, sponsors, private equity funds and institutional investors to establish and grow renewable energy platforms, acquire project portfolios and structure development partnerships across multiple jurisdictions.

His experience spans utility-scale and rooftop solar, onshore wind, battery energy storage, geothermal and hydropower, combining corporate and joint venture advice with project development and financing expertise.

He also advises sponsors and DFIs, commercial banks, multilateral agencies and export credit agencies on project and holding company financings. His experience includes:

  • advising British International Investment and Pentagreen on an US$80 million holding company facility to support ib vogt’s development of solar, wind and battery storage projects across five Southeast Asian markets;
  • Actis and Levanta Renewables on wind and solar investments and development pportunities in Southeast Asia; and
  • regional developers on scaling renewable energy and battery storage projects across Asia-Pacific.

Alongside his renewables practice, Stephen has advised on conventional power, oil and gas, petrochemicals, telecommunications and other infrastructure transactions. His international experience includes secondments with a leading Dutch bank in Amsterdam and major Japanese trading houses in Tokyo.

Stephen was recognised in Legal 500’s 2026 Asia-Pacific Green Ambassadors for his work supporting the development and financing of renewable energy platforms across the region.

Stephen is admitted to practise in England and Wales and New South Wales, Australia. He holds a Master of International Law from the University of Sydney and a Bachelor of Laws from the University of New South Wales, and speaks English, and some French and Spanish.

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