The Private Infrastructure Development Group (PIDG) and Singapore-based August Energy Investment Co. Pte. Ltd. have announced a joint investment of USD 30 million to establish a new energy-as-a-service (EaaS) platform targeting commercial and industrial (C&I) sectors in the Philippines, Viet Nam, and Thailand. The joint venture will focus on accelerating decarbonisation through renewable energy generation, energy storage solutions, and integrated utilities, including cooling-as-a-service.
The platform aims to develop approximately 135 MW of new installed capacity across Southeast Asia within the next three years. During this period, it is expected to mobilise up to USD 100 million in blended public and private sector capital, working alongside local developers and lenders. Both PIDG and August Energy view the initiative as a long-term commitment, with scope for additional capital deployment as demand for EaaS solutions increases.
Claire Jarratt, Head of Investment Management – InfraCo at PIDG, said the collaboration positions both entities at the forefront of corporate decarbonisation efforts in Southeast Asia. She noted that offering clean energy solutions without upfront investment will help remove barriers for businesses seeking to transition to sustainable operations, adding that the platform is expected to set a new benchmark for the region.
August Energy CEO Kunal Mehta highlighted PIDG as a partner aligned with the company’s ESG priorities. He said the partnership would accelerate August Energy’s regional expansion and support the growing C&I market with cleaner, cost-effective, and reliable energy alternatives.
The initiative comes at a time when the International Energy Agency predicts rapid growth in Southeast Asia’s energy demand over the next decade, which could significantly increase carbon emissions if not addressed. In 2023, 85 per cent of the region’s population was exposed to polluted air. The new EaaS platform aims to directly counter these trends, with systems expected to avoid 106,000 tCO₂e emissions and deliver energy cost reductions between 12 per cent and 50 per cent for solar C&I users over project lifetimes.
By deploying decentralised clean energy infrastructure, the JV is expected to reduce pressure on national grids and limit exposure to volatile fossil fuel markets. Businesses adopting renewable energy and cooling-as-a-service solutions can expect stable energy supply, predictable costs, and no upfront capital expenditure.
The platform will operate under PIDG’s health, safety, environmental and social (HSES) protocols, aligned with IFC Performance Standards and international best practices. The initiative supports UN Sustainable Development Goals 7.1 and 13.a and aligns with PIDG’s 2030 Strategy, which prioritises expanding access to sustainable infrastructure and strengthening climate resilience in emerging and developing economies.
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