SUSI Partners has entered a joint venture with Singapore-based developer Entoria Energy to build rooftop solar panels in Southeast Asia.
The investment is being made on behalf of SUSI’s Asia Energy Transition Fund (SAETF), which will be given exclusive investment rights to Entoria’s Southeast Asian project pipeline, initially focusing on Malaysia, the Philippines, Thailand and Vietnam.
SUSI and Entoria will offer companies photovoltaic installations on the rooftops of their buildings at no extra cost, while selling the power generated to them at prices below the grid tariff.
SUSI said rooftop photovoltaic installations at manufacturing plants, shopping malls, industrial parks and other large buildings were becoming an increasingly attractive proposition for commercial and industrial offtakers in Southeast Asia looking for ways to decrease their exposure to rising energy prices and grid reliability issues.
The region’s strong population and economic growth are expected to create greater demand for additional power generation capacity than more developed regions, the company added.
SAETF targets sustainable energy infrastructure investments across Southeast Asia.
It held a first close in May 2021, receiving investment from development banks AIIB and FMO, Nordic development finance institutions Norfund and Swedfund, and institutional investors from Germany and Singapore.
