BII, FMO back BECIS with joint loan to develop renewables sector in Southeast Asia

Tuesday, Apr 16, 2024 12:46

Representatives of British International Investment, FMO and BECIS at the co-operation signing ceremony. — Photo Courtesy British International Investment

British International Investment (BII) and Dutch entrepreneurial development bank FMO have recently announced a joint loan commitment of US$50 million to BECIS, a leading energy-as-a-service (EaaS) provider in Southeast Asia.

The joint financing facility will be used to fuel BECIS' expansion and back its groundbreaking energy solutions across Việt Nam, the Philippines, Indonesia, Thailand, Malaysia and India.

This comes in response to the growing demand for clean and affordable energy within these economies.

BECIS offers a wide array of services, such as rooftop solar, bio energy and energy efficiency solutions, tailored to meet the diverse needs of businesses and communities across Asia.

With a strong commitment to sustainability, BECIS leverages advanced technologies and strategic partnerships to optimise energy consumption, drive the adoption of renewable energy sources, enhance operational efficiency, build resilient energy infrastructure, and promote energy literacy within communities.

As BECIS brings its portfolio to 346MW by 2025, it aims to avoid 319,000 tonnes of CO2 emissions per year by offering cleaner and lower-cost electricity to its customers to displace on-grid power.

The loan commitment from BII and FMO underscores their confidence in BECIS' vision and capabilities to revolutionise the energy sector across the region. This partnership goes beyond just finances; it is a symbol of their united mission to propel sustainable development and cultivate innovation across Southeast Asia. — VNS

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