Swiss investment firm SUSI Partners, through its Asia Energy Transition Fund (SAETF), has launched a renewable energy platform to develop renewable energy assets in South-East Asia.
The platform will focus on the construction, development and operation of utility-scale solar photovoltaic (PV), wind and hydro assets.
SUSI’s platform will develop the projects in the Philippines, Vietnam, Indonesia, Cambodia and other South-East Asian markets in partnership with regional developer Pacific Impact.
Pacific Impact has established a presence in all these markets and will serve as the developer and project manager for the platform.
The two companies aim to leverage their expertise and knowledge to catalyse international capital, as well as increase the sustainable buildout of renewable energy capacity in the region.
Pacific Impact will offer its experience in renewable energy development, while SUSI will provide its investment knowledge.
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By GlobalDataIn a statement, SUSI Partners said: “Following previous platform investments by SAETF dedicated to energy efficiency measures, microgrids, and commercial and industrial solar projects, the joint venture with Pacific Impact marks SAETF’s fourth transaction and its entry into the utility-scale renewables space in the region, adding to an already well-diversified portfolio.
“SAETF, which targets energy transition infrastructure investments across South-East Asia, has received capital commitments from development banks, DFIs, and private investors.”
The Association of South-East Asian Nations (ASEAN) aims to source 23% of its primary energy from renewables by 2025.
The International Renewable Energy Agency (IRENA) has estimated that for this target to be met, annual financial flows into the ASEAN’s clean energy sector would need to more than double.
In August last year, SUSI Partners acquired a 100MW battery storage project portfolio in Texas, US, for an undisclosed sum.
The company bought the portfolio in partnership with SMT Energy and the deal was carried out through SUSI’s Energy Transition Fund (SETF).