British International Investment

SUSI Asia Energy Transition Fund

MalaysiaPhilippinesSingaporeThailandVietnamRest of the WorldInfrastructureOther

The Fund targets investments across
the energy transition sectors, including
renewable energy, energy efficiency, and
energy storage, and focuses on emerging
economies in Southeast Asia, including
Indonesia, Vietnam and Philippines.

Our investment

Description of the investment.

Our investment in SUSI Asia Energy Transition Fund aims to deliver renewable energy, energy efficiency and energy storage infrastructure in Southeast Asia to meet the region's climate and sustainable development goals. The Fund's investments are expected to: contribute to global climate change mitigation goals through clean energy solutions; increase the supply of reliable and affordable electricity for businesses and consumers; and enable access to clean energy solutions in underserved areas.

Impact information

Applies to investments made from 2019 onwards. The tabs in this section define what we expect to achieve through the investment, assessing the potential impact of the investment against six dimensions of impact. You can find more details on our methodology of assessing impact here.

What?

Impact
  • Support climate change mitigation via improved access to low-carbon energy and technologies (SDG 13A)
  • Improve access to clean energy for consumers and businesses (SDG 7A)
  • Improve economic opportunities and opportunities for firms (SDG 8.5)

How?

How?
  • Avoid and/or reduce greenhouse gas emissions by investing in renewable energy technologies that support the energy transition in Southeast Asia.
  • Support economic growth, job creation, and improved quality of life by increasing the supply of reliable, affordable, and sustainable energy.

Who?

Stakeholder Geography Characteristics
Planet

Global

Consumers

Southeast Asia

Employees

Southeast Asia

How much?

Scale Depth/Duration

Potential to be large-scale given the types of enabling technologies and business models the Fund targets, which in turn will impact many actors if proven successful.

The climate mitigation impact is expected to be deep, especially for coal dependent economies.

The impact on economic opportunities is expected to be deeper in countries with higher poverty and unemployment levels.

Contribution/additionality

Contribution/additionality
  • Financial additionality: Capital is not offered in sufficient quantity from commercial investors.
  • Value additionality: Improvement of business integrity processes

Risk

Execution Risk
  • We recognise that targeted investments by the Fund may not generate material impact to consumers and businesses in those countries where access to energy is high and those investments involving the acquisition of existing assets.

Impact score

Impact score (at point of investment)

The Impact Score is a tool to help us manage our performance against our strategic impact objectives. It is designed to incentivise investments that support our productive, sustainable, and inclusive objectives. You can find out more here.

The Impact Score is published for investments made from 2022 onwards. The Impact Scores are calculated at the point of investment. We publish the Impact Scores of new investments annually, once the information has been externally assured by an independent third party.

5

Environmental and social information

  • Environmental and social summary

    A high-level description of the environmental and social aspects of the investment. This may include a summary of key environmental and social risks identified during environmental and social due diligence (ESDD); key elements of an environmental and social action plan (ESAP); or ways in which we plan to support the investee improve environmental and social standards, such as through their environmental and social management system (ESMS); as well as any other priority areas agreed with the investee.

  • Environmental and social risk

    A risk category rating, which indicates the level of environmental and social risk associated with an investment. For an explanation of the categorisations used, see here. We consistently provide an environmental and social risk category for all investments screened from 2023 onwards.

Environmental and social summary

We have included ESAP items to enhance SUSI’s supply chain risk management framework and gender-based violence and harassment policies and procedures.

Environmental and social risk

Medium-High

Reporting and Complaints Mechanism

The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to [email protected] or by mail. See more details on our Reporting and Complaints Mechanism here.

For any other general enquiries contact us at [email protected]

  • Key facts

    First published

    When the investment was first published on the website database.

    :
    July 2023
    Last updated

    When the last quarterly update of the website database occurred.

    :
    June 2024
    Project number

    An identifier number shared by investments in the same project.

    :
    D5110
    Status

    The current status of the investment (green flag for active and red flag for exited).

    :
    Active
    Region

    The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.

    :
    Rest of the World
    Sector

    We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.

    :
    Infrastructure, Other

    We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.

    For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.

    For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.

    For direct equity investments, this is the date at which British International Investment exited the investment.

    For debt investments, this is the date at which the final debt repayment was made.

    For funds, this is the date at which the fund was terminated.

    For underlying fund investments, this is the date at which the fund manager exited the investment.

    The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.

    For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.

    The currency in which the investment was made.

    Investment type :
    Fund
    Start date :
    March 2023
    Amount :
    $15m
    Currency of investment :
    USD
    Fund Manager:
    SUSI Partners Asia Pte. Ltd
    Domicile

    The company or investment fund’s place of incorporation.

    :
    Luxembourg
    Climate finance type:
    Mitigation

Investments made by this fund into companies:

For further information about these companies, visit https://www.susi-partners.com/

Investment name Country Region Sector Start date Status
Asia Clean Capital Vietnam Vietnam Rest of the World Infrastructure June 2023 Active
Canopy Power Singapore Rest of the World Infrastructure June 2023 Exited
Entoria Energy Platform Singapore Rest of the World Infrastructure June 2023 Active
Invest Energy Platform Malaysia Rest of the World Infrastructure June 2023 Active
Northern BioGas Ltd Thailand Rest of the World Other October 2023 Exited
Offgrid Advanced Sustainable Infrastructure Solutions Pte. Ltd. (BayWa r.e) Vietnam Rest of the World Infrastructure October 2023 Active
Pacific Impact Development Philippines Rest of the World Infrastructure July 2023 Active

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