Swiss fund inaugurates Southeast Asia renewable energy platform

SUSI Partners, a Swiss-based infrastructure investment manager, has launched a platform to develop large-scale renewable assets in Vietnam and across Southeast Asia.

The platform will focus on the greenfield development of solar, wind, and hydrogen energy with the ability to continue through financing, construction, and operation of these assets across Vietnam, the Philippines, Indonesia, Cambodia and other markets in the region, SUSI Partners said.

The new business will establish large-scale energy assets in partnership with Pacific Impact Development, which is headquartered in Singapore and has regional offices in Ho Chi Minh City, Jakarta, Phnom Penh, Bangkok, and Manila.

SUSI Partners inaugurated the platform via its Asia Energy Transition Fund, which targets investments across Southeast Asia. The fund has received capital commitments from development banks, development finance institutions, and private investors.

Multinational law firm Pinsent Masons has advised the Swiss investor and the fund in the launch. Pinsent Masons said it has also facilitated agreement between the platform and Pacific Impact, which will act as developer and project manager.

The new joint venture will draw on Pacific Impact’s experience in renewable energy development and SUSI’s investment expertise to ensure responsible project delivery, the law firm added.

“Many nations across Southeast Asia have set ambitious targets to substantially increase the contribution of renewable energy to their power grids. There remains a significant gap in investment which, if it continues, will render these targets unachievable,” Pinsent Masons partner William Stroll said in a release.

“Joint ventures like this are vital in helping deliver important renewable energy assets to the region, bringing together impact funds with access to capital with developers based in the region who have a good understanding of the local markets and can help to successfully deliver renewable energy projects,” he said.

The Association of Southeast Asian Nations, or ASEAN, aims to have 23% of its primary energy supplied by renewables by 2025. However, there remains a substantial investment gap, with the International Renewable Energy Agency estimating that annual financial flows into the Southeast Asian clean energy sector would have to more than double for these targets to remain within reach.

SUSI Partners says the collaboration between it and Pacific Impact leverages the collective sector knowledge and regional experience of both parties to catalyze international capital and drive forward the sustainable buildout of regional renewable energy capacity.

Vietnam is seeking to promote the development of renewable energy as the country targets carbon neutrality by 2050.