FMO, the Dutch development bank, British International Investment (BII), and SUSI Partners have joined forces to launch a new utility-scale renewable energy platform in Southeast Asia.
The platform, named Sustainable Asia Renewable Assets (SARA), will aim to develop a portfolio of 500 megawatts (MW) of clean energy projects across the region. SARA, established under the SUSI Asia Energy Transition Fund (SAETF), will initially focus on bringing greenfield projects into construction and operation.
The Dam Nai wind farm in Vietnam, recently acquired by SUSI, will serve as the cornerstone asset for the SARA platform. The platform also plans to develop its own proprietary pipeline of renewable energy projects across key Southeast Asian markets.
FMO and BII are demonstrating their strong commitment to the platform through co-investment commitments of $70 million and $50 million, respectively, to SARA, in addition to top-up commitments to the SAETF.
With these new commitments, SUSI has more than doubled the size of its Southeast Asia-focused strategy, expanding from $120 million to $259 million. The fund’s current portfolio encompasses a diverse range of projects, including utility-scale renewable energy, distributed generation, and energy efficiency initiatives across Vietnam, the Philippines, Thailand, and Cambodia.
This partnership between FMO, BII, and SUSI Partners signifies a significant step towards accelerating the transition to clean energy in Southeast Asia. By supporting the development of renewable energy projects, this initiative will contribute to sustainable economic growth, energy security, and environmental protection in the region.
