FMO and partners launch new platform to boost Southeast Asia's renewables capacity

It will develop a 500 MW portfolio.

FMO, British International Investment, and SUSI Partners have teamed up to form a new utility-scale renewable energy platform that will build 500 megawatts of clean energy projects across Southeast Asia.

In a statement, FMO said the platform, which is called Sustainable Asia Renewable Assets (SARA), was established under the SUSI Asia Energy Transition Fund (SAETF). The initial focus will be on getting greenfield projects into construction and operation.

The Dam Nai wind farm in Vietnam, acquired by SUSI in October 2024, will serve as SARA's cornerstone asset.

There are also plans for SARA to develop its own proprietary pipeline of projects across Southeast Asia.

BII and FMO are investing $70m and $50m, respectively, through co-investment commitments to SARA and top-up commitments to the SAETF.

Complemented by further commitments to SAETF from existing and new investors, SUSI has more than doubled the size of its Southeast Asia-focused strategy from $120m to $259m. The fund’s current portfolio focuses on utility-scale renewable energy projects as well as distributed generation and energy efficiency projects across Vietnam, the Philippines, Thailand, and Cambodia.