SUSI Partners has held a final closing for the SUSI Asia Energy Transition Fund (SAETF) for a total commitment of $120m.
The fund invests in energy transition infrastructure across south-east Asia and has to date made investments in utility-scale renewable energy generation, energy efficiency, and distributed solar PV solutions for commercial and industrial end clients.
SAETF’s investor base includes seven development finance institutions as well as selected private investors.
Since obtaining commitments from the Asian Infrastructure Investment Bank (AIIB), Dutch FMO, and Nordic DFIs Norfund and Swedfund at first close, the fund has added further commitments from Austrian OeEB, British International Investment (BII), and BIO, the Belgian Investment Company for Developing Countries.
SAETF’s portfolio comprises four investments, including an energy efficiency-focused joint venture with Malaysian company InvestEnergy, a development platform for utility-scale renewable energy assets with Singapore-based Pacific Impact Development, and two investments focusing on distributed solar PV solutions for commercial and industrial end clients.
SUSI’s dedicated regional team plans to continue deploying SAETF’s capital through the existing platforms while adding further investments to the portfolio in line with the Fund’s holistic energy transition mandate.