The Dutch Entrepreneurial Development Bank (FMO) has announced plans to invest USD30 million into the greenfield renewable energy platform Sustainable Asia Renewable Assets (SARA).
The investment will be co-invested with the SUSI Asia Energy Transition Fund to establish a renewable energy company focused on Vietnam and the Philippines. SARA, managed by SUSI Partners, will develop ready-to-build utility-scale wind and solar projects in these countries. The aim is to create an operational portfolio of 200-300 MW in the coming years, with FMO’s capital funding the equity needed for construction. These projects will supply clean energy to grids in regions that require additional power and a diversified energy mix, thereby supporting the reduction of carbon emissions and decreasing reliance on fossil fuels.