SUSI Partners has successfully raised an additional US$139 million for its Southeast Asia-focused renewable energy strategy, increasing the total capital under management to US$259 million. The fundraising was primarily driven by significant additional commitments from British International Investment (BII), the UK's development finance institution, and FMO, the Dutch entrepreneurial development bank.
BII and FMO have each committed US$70 million and US$50 million, respectively, through co-investment commitments to the newly established Sustainable Asia Renewable Assets (SARA) platform, as well as top-up commitments to the SUSI Asia Energy Transition Fund (SAETF).
The additional funds have allowed SUSI to more than double the size of its Southeast Asia strategy, growing from US$120 million to US$259 million. The enhanced capital base will support the development of a portfolio of utility-scale renewable energy projects across Southeast Asia.
“The new commitments from BII and FMO will enable us to further accelerate our efforts in building a robust portfolio of renewable energy projects in Southeast Asia,” said a spokesperson for SUSI Partners. “With a focus on greenfield developments, we are well-positioned to contribute to the region's energy transition.”
Through the SARA platform, SUSI and its partners plan to develop a 500MW portfolio of greenfield renewable energy projects across Southeast Asia by the end of the fund's life. The initial phase will focus on bringing these projects into construction and operation. Additionally, SARA aims to establish an independent pipeline of projects in the region.
The Dam Nai wind farm in Vietnam, acquired by SUSI for the SAETF in October 2024, will serve as the cornerstone asset for SARA's portfolio. SAETF's investments currently focus on utility-scale renewable energy, distributed generation, and energy efficiency projects across Southeast Asian markets such as Vietnam, the Philippines, Thailand, and Cambodia.
