BII and FMO back BECIS with joint US$50 million financing facility supporting commercial and industrial renewables sector in South-East Asia - PR Newswire APAC
Summary
Supported by local government policies, the nascent Commercial and Industrial solar sector is offering cleaner and lower-cost electricity to customers to displace consumption of on-grid power.SINGAPORE, April 15, 2024 /PRNewswire/ -- British International Investment (BII), the UKs development finance institution and impact investor, and FMO, the Dutch entrepreneurial development bank, today announced a joint loan commitment of US$50 million to BECIS, a leading energy-as-a-service (EaaS) provider in South-East Asia.BECIS offers a wide array of services, such as rooftop solar, bio energy and energy efficiency solutions, tailored to meet the diverse needs of businesses and communities across Asia. This partnership goes beyond just finances; it is a symbol of their united mission to propel sustainable development and cultivate innovation across South-East Asia.Eren Ergin, CEO of BECIS commented: "This loan commitment from BII and FMO represents trust and confidence from esteemed partners in our existing capabilities and growth plans. The commitment to commercial and industrial renewables reflects the evolving landscape of energy production, where DFIs can play a key role by providing climate finance to support the regions low-carbon transition. This new financing in BECIS embodies their shared vision for a thriving, sustainable future for the region.BECIS is a leading Energy as a Service (EaaS) provider to high-quality commercial and industrial customers. FMO believes that a strong private sector leads to economic and social development and has a 50+ year proven track-record in empowering entrepreneurs to make local economies more inclusive, productive, resilient and sustainable.