Invest Energy-SUSI’s agreement to pave way for up to US$130 mil investment in SEA clean energy
19 Jul 2021
Invest Energy has signed an agreement with the leading Swiss fund manager SUSI Partners AG (SUSI) to pave the way for up to US$130 million (US$1=RM4.22) investments into Southeast Asia’s (SEA) environment-friendly, clean energy and energy efficiency projects that help reduce greenhouse gas emissions.
In a statement today, the clean energy and energy efficiency solutions developer and investor said both parties are establishing a joint venture (JV) dedicated to finance and operate clean energy and energy efficiency infrastructure projects across SEA.
It said the shareholder agreement was signed by Invest Energy founder and managing director Anand Ramakrishnan and SUSI Partners, Asia investments, managing director Wymen Chan.
“As part of its first investment drawdown, a planned investment of up to US$30 million is expected to develop a number of clean energy and energy-efficient projects in SEA, which is aimed to be announced within the second half of this year,” it said.
It said the JV with SUSI through SUSI Asia Energy Transition Fund (SAETF) would provide clean energy and energy efficiency solutions under a long-term build-own-operate-transfer basis for commercial and industrial clients.
“Invest Energy and SUSI Partners aim to be inclusive in the clean energy and energy efficiency industry by combining their respective expertise in project development and in financing energy transition to contribute towards meeting climate change targets in SEA,” it said.
Ramakrishnan said the JV, to be based in Singapore, would benefit businesses as a result of clean energy, reduced energy costs and improved efficiency.
“With several successful projects in Malaysia, this partnership will help accelerate Invest Energy’s growth and propel it to expand further into SEA,” he said.
He said the JV would also enhance the company’s brand image as an important contributor to environmental, social and governance (ESG) goals worldwide.
He added that the collaboration would enable both Invest Energy and SUSI Partners to amalgamate knowledge and access to cross border deals and facilitate the deployment of capital.