SUSI Asia Energy Transition Fund SCSp
Status: Investment in contracting phaseWhy 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 prospective customer?
SUSI Asia Energy Transition Fund (SAETF) is a private infrastructure fund that invests in renewable energy and energy efficiency solutions in Southeast Asia. The fund is managed by SUSI Partners (SUSI), a Swiss investment manager with a strong track record focused on energy transition investments in Europe and in global OECD markets. SAETF is SUSI’s first emerging markets fund and has several other DFIs and multilateral investors next to FMO. The proposed investment is a top-up of FMO’s existing commitment to the fund.
What is our funding objective?
SAETF takes majority/controlling investments in energy transition infrastructure assets and companies. The portfolio contains a balance of investments in energy efficiency, commercial & industrial (C&I) energy solutions, and energy storage, alongside utility-scale renewable energy generation projects. The fund invests in developers, platforms, and joint ventures that hold a mix of construction and/or operational assets alongside a pipeline of development-stage assets.
Why do we want to fund this investment?
Energy generation, storage, and energy efficiency are important and under-deployed infrastructure elements that are core to the green energy transition in markets like Southeast Asia where energy demand continues to grow rapidly. The economics for commercial & industrial (C&I), and (hybrid) energy storage in Southeast Asia are favorable for investment and impact given the opportunity to supplement unreliable grids, displace diesel generation, electrify dispersed populations, and provide cleaner power to industrial players. By increasing its investment in SAETF, FMO seeks to address the market need for energy transition infrastructure in Southeast Asia at a time when the global climate is rapidly changing.
What is the Environmental and Social categorization rationale?
The investment scope of the fund includes activities with limited environmental & social (E&S) risks and activities with potentially higher E&S risks. Given the scope, this fund was characterized as an E&S Category A fund. However, over the past years most of the fund’s investments have had limited E&S risks as the fund has been focusing mainly on commercial & industrial (C&I) solutions, energy efficiency and early-stage development of utility-scale projects. The investment manager has implemented an Environmental and Social Management System (ESMS) that includes screening of E&S risks and performance of investment opportunities, and monitoring this performance once the investment is made, using the IFC Performance Standards. The fund has a dedicated E&S manager and an E&S advisory panel, in which the E&S specialists of the investors in the fund are represented, as well as the E&S manager of the fund. This panel evaluates the E&S performance and subsequent investments of the fund and gives advice. The environmental & social action plan is almost complete, with two actions being developed as per the agreed timelines.
More investments
| Date | Total FMO financing |
|---|---|
| 5/25/2021 | USD 20.00 MLN |
Sub investments
Disclaimer
This data is updated annually so some investments might no longer be in FMO’s portfolio, while some newer investments may not yet be shown.
| Name | Country | Region | Sector |
|---|---|---|---|
| ACC V Pte. Ltd. | Singapore | ASIA | Financial Institutions |
- Website customer/investment
- https://www.susi-partners.com/
- Region
- Asia
- Country
- Asia
- Sector
- Energy
- Publication date
- 6/28/2024
- Deadline for feedback
- 8/27/2024
- Total FMO financing
- EUR 10.00 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) - A