​Swedfund Finances Renewable Energy in Developing Asian Countries

Swedfund, Sweden’s development finance institution, is committing MUSD 10 to Renewable Energy Asia Fund II L.P. The fund invests in small and medium-sized renewable energy projects in South and Southeast Asia.

There is a pronounced link between access to clean energy and sustainable development, which is why Swedfund maintains a strong focus on financing renewable energy projects in its countries of operation.

On July 10, Swedfund entered into agreements to commit MUSD 10 to Berkeley Energy’s second Asian fund - Renewable Energy Asia Fund II L.P. (REAF II). The fund will invest in proven technologies such as onshore wind, hydro and solar, and will focus on small and medium-sized electricity generation projects in South and Southeast Asia, including Indonesia, the Philippines and India.

The fund’s manager, Berkeley Energy, has been active in Asia for ten years and was established to develop, build, own and operate renewable energy projects in developing countries. REAF II builds on the track record and experience which Berkeley Energy has gained through its first Asian renewable energy fund where the principal geography is India and the Philippines and on its Africa Renewable Energy Fund (AREF) which focuses on sub-Saharan Africa.

“Swedfund is delighted to support the growth of renewable energy production in developing Asian countries by investing in REAF II. We are committed to helping advance the Swedish government’s agenda for green growth and recognize the potential to transformative change inherent in clean energy”, said Anna Ryott, Managing Director at Swedfund.

For more information, please see http://www.berkeley-energy.com/