EESL invests in SWAG EV to catalyze energy transformation in Southeast Asia

Energy Efficiency Services Limited (EESL), has announced plans to invest in SWAG EV, an emerging e-mobility player to drive the use of electric motorbikes while contributing to increasing power grid flexibility.

EESL’s initial US$5 million investment was conceptualized by SHIFT Asia, a carbon finance platform designed and operated by South Pole to mobilise climate finance for e-mobility. In addition to its investment, SHIFT Asia will co-fund the e-bike charging infrastructure in designated service areas and support EESL in financing shared batteries. The concept of convergence – the integration of electric mobility, battery storage, renewable energy generation and carbon finance – has the power to provide clean, reliable and affordable energy, and catalyse an energy transformation in Southeast Asia.

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