BII and FMO Invest $50 Million in BECIS to Boost Renewable Energy in South-East Asia

British International Investment (BII), the UK’s development finance institution, along with the Dutch entrepreneurial development bank, FMO, announced today a joint financing of $50 million to BECIS, an energy-as-a-service provider in South-East Asia. This investment aims to support BECIS’s expansion in renewable energy solutions across Vietnam, the Philippines, Indonesia, Thailand, Malaysia, and India.

BECIS specializes in providing sustainable energy services, including rooftop solar, bioenergy, and energy efficiency solutions. The company’s objective is to optimize energy consumption and promote the use of renewable sources to enhance energy infrastructure and literacy in Asia. This initiative is part of a broader effort to meet the increasing demand for affordable and clean energy in the region.

The funding is set to help BECIS grow its capacity to 346MW by 2025 and is expected to prevent approximately 319,000 tonnes of CO2 emissions annually by providing cleaner, cheaper electricity and reducing reliance on traditional power grids.

Eren Ergin, CEO of BECIS, expressed gratitude for the trust BII and FMO have shown in the company’s vision and capabilities. “This funding will allow us to accelerate the adoption of sustainable energy solutions, helping our customers reach their net zero targets and promote sustainable growth across South-East Asia,” said Ergin.

Srini Nagarajan, BII’s Managing Director and Head of Asia, highlighted the significance of this financing as BII’s inaugural direct debt financing in the region. He emphasized the pivotal role of development finance institutions in facilitating the transition to a low-carbon economy through strategic partnerships.

Jeesun Han, Energy Manager at FMO, also celebrated the collaboration, noting its role in enhancing BECIS’s efforts to fulfill the growing energy needs of commercial and industrial sectors through cost-effective and reliable clean energy sources.

The strategic investment by BII and FMO underscores their commitment to fostering sustainable development and innovation, supporting Asia’s journey toward economic prosperity and environmental sustainability.