BII and Idemitsu partner with Skye Renewables to accelerate decarbonisation in South-East Asia - Seite 3

Ross Coull, Founder of Skye Renewables, commented: "We are absolutely delighted that BII has chosen Skye as their first direct equity investment in South-East Asia. Their track record in renewable energy across multiple markets is extensive and I am sure that they will bring a huge amount of value to Skye; they will be a great partner to support our ambitions of decarbonising corporate activity in the region."

This investment supports UN SDG 7 on Affordable and Clean Energy and SDG13 on Climate Action.  

Notes to editors:

About British International Investment

• British International Investment is the UK's development finance institution and impact investor.
• British International Investment is a trusted investment partner to businesses in Africa, Asia and the Caribbean.
• It invests to support the UK Government's Clean Green Initiative and to create productive, sustainable and inclusive economies in our markets.
• Between 2022-2026, at least 30 per cent of BII's total new commitments by value will be in climate finance.
• BII intends to deploy up to £500m in climate finance projects in Southeast Asia to support decarbonisation in the region.
• BII is also a founding member of the 2X Challenge which has raised over $27billion to empower women's economic development.    
• The company has investments in over 1,470 businesses across 65 countries and total assets of £8.1 billion.
• For more information, visit: www.bii.co.uk | watch here.
• Follow British International Investment on LinkedIn and X.

About Idemitsu  

• Established in 1940, Idemitsu is one of Japan's leading producers and suppliers of energy.
• Idemitsu operates through 67 business bases across the world, in the areas of fuel oil, petrochemicals, lubricants, electronic materials, electric power and renewable energy, oil and gas development, and coal.

About Skye

• Skye Renewables is an energy-as-a-service solar company with operations in Philippines, Vietnam, Singapore and Malaysia.
• The company supports blue chip organisations by deploying solar systems on their premises and selling them the renewable energy via long-term contracts.
• In addition, as the regulations continue to develop in South-East Asia, Skye Renewables can provide renewable energy from larger 'off-site' systems.
• For more information, visit: www.skyerenewables.com.

[1] https://www.iea.org/reports/southeast-asia-energy-outlook-2022/key-findings