BII, FMO commit USD 50m to South-East Asian C&I renewables firm BECIS

British International Investment (BII) and FMO have committed a USD-50-million (EUR 47m) joint financing facility to Singapore-based energy-as-a-service (EaaS) provider BECIS.

Announcing the commitment on Monday, the UK’s development finance institution and impact investor and the Dutch entrepreneurial development bank said the financing will help BECIS grow its rooftop solar portfolio in South and South-East Asia to nearly 350 MW by 2025. It will support the company’s expansion across Vietnam, the Philippines, Indonesia, Thailand, Malaysia and India. BECIS provides services, such as rooftop solar, bioenergy and energy efficiency solutions to businesses and communities.

“Our investment in BECIS is BII’s first direct debt financing in South-East Asia,” said Srini Nagarajan, Managing Director and Head of Asia at BII. “The commitment to commercial and industrial renewables reflects the evolving landscape of energy production, where DFIs [development finance institutions] can play a key role by providing climate finance to support the region’s low-carbon transition,” added Nagarajan.

(USD 1 = EUR 0.940)

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