Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Finance

Posted By Global Banking and Finance Review

Posted on January 22, 2025

UK development bank joins Southeast Asia renewables JV

SINGAPORE (Reuters) - British International Investment (BII), the UK's development finance institution, has formed a renewable energy joint venture focused on Southeast Asia, according to a statement released with its partners on Wednesday.

BII's partners in the Sustainable Asia Renewable Assets company (SARA) are Dutch entrepreneurial development bank FMO and Swiss-based infrastructure investment manager SUSI Partners.

BII and FMO are investing $70 million and $50 million, respectively, in the company, while SUSI will contribute the Dam Nai wind farm in Vietnam it acquired in October last year as a cornerstone asset, the three said in the statement.

SARA aims to build a 500 megawatt portfolio of greenfield renewable energy projects across Southeast Asia, a region that has relied mainly on fossil fuels to meet increasing energy demand driven by population expansion and its position as a growing global manufacturing and industry hub.

The International Energy Agency projects that the region will account for more than a quarter of global energy demand growth until 2035.

(Reporting by Yantoultra Ngui; Editing by Kirsten Donovan)

Recommended for you

  • Trump says he would sanction Russia if Putin does not negotiate on Ukraine

  • Transforming Agent Compensation: A Landmark Achievement By One the Largest Insurance Companies in the U.S.

  • Trump vows to hit EU with tariffs, eyes 10% tariff on China on Feb. 1