BE C&I SOLUTIONS HOLDING PTE. LTD.
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
BE C&I Solutions Holdings Limited (earlier known as Berkeley Energy Commercial & Industrial Company) is a distributed energy business that develops, builds, and operates within-the-fence renewable energy and energy efficiency solutions for commercial and industrial (“C&I”) customers in emerging markets under long term offtake agreements. The company is an existing investee of FMO and is currently active across South and South-East Asia and aims to become a leading energy-as-a-service business in the growing C&I clean energy market in Asia and potentially other emerging markets.
What is our funding objective?
FMO provides a top-up on its existing investment of USD 3.2 million to maintain its stake in the company and an additional USD 25 million in mezzanine finance. The funds will be used to fund the growth of the company’s portfolio of C&I assets.
Why do we fund this investment?
The investment will create distributed clean energy infrastructure for high quality corporate customers as well as local employment. It will allow these customers to fulfil their CSR targets targeting renewable energy supply and save on energy costs while also allowing the targeted countries to get closer to reaching their renewable energy targets – and supporting the energy paradigm shift from centralised to decentralised energy generation and utilisation.
What is the Environmental and Social categorization rationale?
E&S risk category B+, due to limited risks and possibility for effective mitigation. The positive impact potential is material, with the delivery of grid independent and renewable energy to commercial and industrial customers in regions that need stable and clean energy for sustainable economic development. Key risks are related to occupational health and safety, social accountability with regard to staff and (sub)contractor management (e.g. working conditions, remuneration, recruitment, and onboarding etc.), contextual risks (including the human rights issues occurring in the global solar supply chain). PS1-3 are triggered, and PS4 to some extent; PS5-8 are not triggered, as the investment concerns C&I projects that operate ‘within-the-fence’ on existing property. Further additionality opportunities related to the implementation of E&S capacity building in the various countries BECIS operates will be explored.
More investments
| Date | Total FMO financing |
|---|---|
| 5/30/2023 | EUR 0.02 MLN |
| 5/23/2019 | USD 50.00 MLN |
- Region
- Asia
- Country
- Asia
- Sector
- Energy
- Publication date
- 4/14/2023
- Effective date
- 4/5/2023
- Total FMO financing
- USD 28.20 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+