SUSI Partners has launched a platform to develop utility-scale renewable energy assets in south-east Asia.
The investor has launched the platform through its Asia Energy Transition Fund (SAETF), in partnership with regional developer Pacific Impact Development (Pacific Impact).
The fund will develop greenfield projects in the Philippines, Vietnam, Indonesia, Cambodia and other south-east Asian markets, spanning solar, wind and hydro technologies.
There is also potential for the platform to continue through financing, construction and operation of assets.
Pacific Impact, which has a local presence in all the target markets, will act as the developer and project manager for the platform.
The new venture will draw on Pacific Impact’s longstanding experience in renewable energy development as well as SUSI’s investment expertise to “ensure effective value creation and the highest standards in responsible project delivery”.
The Association of Southeast Asian Nations aims to have 23% of its primary energy supplied by renewables by 2025.
There remains a substantial investment gap, with the International Renewable Energy Agency (IRENA) estimating that annual financial flows into the south-east Asian clean energy sector would have to more than double for these targets to remain within reach.
The collaboration between SUSI Partners and Pacific Impact will use collective sector knowledge and regional experience of both parties to “catalyse international capital” and drive forward the sustainable buildout of renewable energy capacity in the region.
The joint venture with Pacific Impact marks SAETF’s fourth transaction and its entry into the utility-scale renewables space in the region, adding to an already well-diversified portfolio.