PIDG and August Energy Launch USD 30 Million Platform to Accelerate Renewable Energy and Decarbonisation in Southeast Asia

The Private Infrastructure Development Group (PIDG) and Singapore-based August Energy Investment Co Pte. Ltd. have launched a joint platform with an initial investment of USD 30 million to accelerate decarbonization in Southeast Asia through energy-as-a-service (EaaS). The platform aims to fund the deployment of around 135 MW of decentralized renewable energy generation and storage, alongside integrated utility projects across the Philippines, Vietnam, and Thailand. By offering solutions such as solar power, storage, and cooling-as-a-service, the initiative targets commercial and industrial customers looking to reduce carbon emissions and energy costs without significant upfront investments.

The new platform is designed to support the transition of businesses towards cleaner energy by combining renewable energy generation with integrated utility solutions. This includes both behind-the-meter and front-of-the-meter solar and storage projects, as well as other energy infrastructure services. The deployment of these systems is expected to contribute to the reduction of approximately 106,000 tonnes of CO2 equivalent emissions over the lifetime of the projects. For participating companies, energy costs could be reduced by 12 to 50 percent, depending on the size and nature of the projects.

Claire Jarratt, Head of Investment Management – InfraCo at PIDG, highlighted that energy-as-a-service is an emerging yet highly promising approach to corporate decarbonization in Southeast Asia. She said that by providing companies access to clean energy solutions without requiring upfront capital, the platform removes financial barriers and demonstrates that rapid decarbonization can be both affordable and commercially viable. She added that this initiative is intended to set a benchmark for the region and encourage more companies to adopt renewable energy solutions.

Kunal Mehta, CEO of August Energy, stated that the partnership with PIDG aligns with the company’s focus on environmental, social, and governance (ESG) impact. He emphasized that the collaboration would accelerate the adoption of renewable energy solutions in the region, ensuring reliable, low-cost, and cleaner energy for the growing commercial and industrial sector. The platform is expected to mobilize up to USD 100 million in blended capital from both public and private sources over the next three years, through partnerships with local developers and financial institutions.

Southeast Asia’s energy demand is projected to rise sharply in the coming decade, which could result in increased carbon emissions and heightened vulnerability to extreme weather events if not addressed. In 2023, around 85 percent of the population in the region was exposed to polluted air, highlighting the urgent need for cleaner energy solutions. The platform directly addresses these challenges by reducing reliance on fossil fuels, lowering strain on national grids, and promoting long-term economic stability through predictable energy costs and stable supply.

The platform will adhere to high standards of health, safety, environmental, and social governance, drawing from IFC Performance Standards and international best practices. Strong governance frameworks will be applied throughout project development, construction, and operations to ensure robust oversight. The initiative supports Sustainable Development Goals, particularly SDG 7.1 for universal access to affordable and modern energy services and SDG 13.a, which focuses on mobilizing finance for climate mitigation in developing countries. PIDG’s 2030 Strategy aims to scale impact by improving access to infrastructure that enhances climate resilience, and this platform represents a significant step toward achieving those objectives.

By providing energy-as-a-service solutions and investing in decentralized renewable energy, PIDG and August Energy are facilitating a scalable, long-term approach to decarbonization across Southeast Asia. The platform not only reduces carbon emissions but also empowers businesses to operate with predictable energy costs, lower environmental impact, and enhanced climate resilience. It represents a forward-looking model for sustainable energy adoption in the region, combining financial innovation, technical expertise, and a strong commitment to environmental sustainability.

This initiative underscores the growing importance of renewable energy and integrated utility solutions for Southeast Asia’s commercial and industrial sectors, demonstrating how collaborative investment platforms can drive significant progress toward a low-carbon future.