SUSI Partners sets up Southeast Asian renewables platform
- SUSI Partners’ Southeast Asia-focussed energy transition fund has launched a renewable energy platform dedicated to selected local markets in collaboration with regional developer Pacific Impact Development (Pacific Impact)
- The platform focuses on the greenfield development, construction, and operation of utility-scale renewable energy assets
Singapore, 31 January 2023 – SUSI Partners, through its Asia Energy Transition Fund (SAETF), has launched a platform for the development of utility-scale renewable energy assets in the Philippines, Vietnam, Indonesia, Cambodia, and other Southeast Asian markets in partnership with regional developer Pacific Impact. The platform will focus on the greenfield development of solar PV, wind, and hydro assets with the ability to continue through financing, construction, and operation of the assets.
Pacific Impact, which has a local presence in all the target markets, will act as the developer and project manager for the platform. The new venture will draw on Pacific Impact’s longstanding experience in renewable energy development as well as SUSI’s deep investment expertise to ensure effective value creation and the highest standards in responsible project delivery.
The Association of Southeast Asian Nations aims to have 23% of its primary energy supplied by renewables by 2025. However, there remains a substantial investment gap, with the International Renewable Energy Agency (IRENA) estimating that annual financial flows into the Southeast Asian clean energy sector would have to more than double for these targets to remain within reach. The collaboration between SUSI Partners and Pacific Impact leverages the collective sector knowledge and regional experience of both parties to catalyse international capital and drive forward the sustainable buildout of renewable energy capacity in the region.
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 Southeast Asia, has received capital commitments from development banks, DFIs and private investors.