Renewable Energy Asia Fund II

Equity : October 2016

The Renewable Energy Asia Fund II invests into small hydro, wind, geothermal, solar and biomass projects in Asian developing markets, with a primary focus on India, the Philippines and Indonesia.

Amount

€ 8,900,000.00

Type of investment

Equity

Development impacts

  • Local economic growth
  • Private sector consolidation/innovation
  • Fight against climate change and preservation of natural resources

Beneficiary locations

Asia: India, Indonesia, Philippines

Investment field

Investment Companies & Funds

Activity

Infrastructure fund

Organisation

Renewable Energy Asia Fund II

Domicile

UK

REAF II is a dedicated 250 mn USD fund for renewable energy in South and South East Asia.

The fund will continue the same investment strategy of its predecessor fund of investing in pre-construction projects in which it can use its engineering and renewable energy experience to assist local developers to create a bankable project with a well-measured resource, feasible evacuation, and off-take solutions.

Berkeley Energy believes that the target markets of the fund contain a large number of projects in early stages of development but a lack of project delivery, investment and structuring expertise.

Development impacts

  • Local economic growth

    The fund will invest in 10 to 15 renewable energy projects as from their development stage and hence help their development into operational assets both financially but also from a technical perspective. These projects will allow for job creation (both direct and indirect), and pay taxes and fees to local governments over their operational life.

  • Private sector consolidation/innovation

    The fund will help develop the market participants’ knowledge and experience. Developing these kinds of projects helps setting standards in the market, invite better regulation, attract market participants from the developed world and improve access to financing for the sector.

  • Fight against climate change and preservation of natural resources

    The fund will only invest in renewable energy projects, a perfect alternative to brown energy. Therefore the fund will contribute to an optimisation of the local energy mix.

Made possible through this investment

Thanks to the direct funding from BIO, the following second-line investments have been made possible.

Panama Mirkala

India

Mirkala Solar is a 10MW operational solar power project developed by Berkeley Energy through its Indian portfolio entity Panama Solar Energy Godawari Private Limited in the Beed District in the state of Maharashtra, India. The project is located adjacent to the 80 MW Mirkala Wind project, also developed by Berkeley Energy under REAF. The project, operational since Q4 2017, is constructed on 21 hectares of land. The project comprises Tier-1 Trina solar PV modules, 2km 33kv transmission line, and a 33kV feeder bay (including associated high voltage equipment at the already existing substation at the site).

Tasma

Indonesia

Tasma is an early mover in the Indonesian market for sustainable energy supply for multinational corporations. Tasma has a portfolio of biomass-fired boiler projects under a Build-Own-Operate (BOO) model using agricultural and wood waste. Tasma has constructed and is operating a biomass boiler for Heineken, supporting them to reduce reliance on fossil fuels and thereby reducing their CO2 emissions.

SKE

Indonesia

Selo Kencana Energi (SKE) is a portfolio company of REAF II owning the ‘Luduk Gadang’ 8MW run-of-the-river hydro power project located in South Solok Regency, West Sumatra, about 170km southeast of the city of Padang, Indonesia. The project has been in operation since 2014.

Quantum Solar Indonisia

Indonesia

Gorontalo Solar Power Plant is a 10.8 MW (AC) Solar PV power plant, with single-axis trackers and 45,480 solar panels, located in the Gorontalo community, known for Molowahu, Gorontalo Province.

IPC

Philippines

Isabela Power Corporation (“IPC”) is developing two small run-of-river hydro projects, totaling 33MW, located in the Province of Isabela in Luzon, Philippines. The Projects are located on the same river, with the first project farthest downstream with a capacity of 19 MW (“IPC 1”) and the second project having a capacity of 14 MW (“IPC 2”). IPC 1 is in the early construction stage, with initial works such as the access roads already underway.

Lombok Solar

Indonesia

Lombok Sambelia Solar Power Plant is a 5.4 MW (AC) Solar PV power plant, with single-axis trackers and 21,960 solar panels, located in the Padak Selatan community, known for Sambelia, East Lombok regency – West Nusa Tenggara Province.

View more of our investments in this region

Koperasi Mitra Dhuafa

Financial Institutions

Koperasi Mitra Dhuafa

  6,000,000.00

  Indonesia

  13/07/2021

  Debt

Incofin India Progress Fund

Investment Companies & Funds

Incofin India Progress Fund

  5,000,000.00

  India

  22/07/2021

  Equity

European Financing Partners S.A.

Investment Companies & Funds

European Financing Partners S.A.

  15,000,000.00

  India, Kenya, Nigeria, Senegal, Tanzania, Zambia

  22/12/2020

  Debt

The Currency Exchange Fund n.v.

Financial Institutions

The Currency Exchange Fund n.v.

  7,091,000.00

  Bangladesh, Cambodia, India, Indonesia, Myanmar, Nepal, Pakistan, Philippines, Sri Lanka, Vietnam, Bolivia, Brazil, Colombia, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Paraguay, Peru, Algeria, Egypt, Iraq, Jordan, Lebanon, Morocco, Syria, Tunisia, Palestinian Territories, Benin, Burkina Faso, Burundi, Cameroon, Côte d'Ivoire, Democratic Republic of Congo, Ethiopia, Ghana, Guinea, Kenya, Madagascar, Malawi, Mali, Mozambique, Niger, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Uganda, Zambia

  05/09/2007

  Equity

European Financing Partners S.A.

Investment Companies & Funds

European Financing Partners S.A.

  5,000,000.00

  India, Kenya, Nigeria, Senegal, Tanzania, Zambia

  08/12/2010

  Debt

Interact Climate Change Facility

Investment Companies & Funds

Interact Climate Change Facility

  6,000.00

  India, Mongolia, Honduras, Côte d'Ivoire, Ghana

  23/02/2011

  Equity

Interact Climate Change Facility

Investment Companies & Funds

Interact Climate Change Facility

  10,000,000.00

  India, Mongolia, Honduras, Côte d'Ivoire, Ghana

  23/02/2011

  Debt

Kaizen Private Equity II

Investment Companies & Funds

Kaizen Private Equity II

  300,000.00

  India, Philippines, Vietnam

  08/12/2020

  Subsidy

PT Mitra Bisnis Keluarga Ventura

Financial Institutions

PT Mitra Bisnis Keluarga Ventura

  15,000,000.00

  Indonesia

  25/03/2021

  Debt

PT Mitra Bisnis Keluarga Ventura

Financial Institutions

PT Mitra Bisnis Keluarga Ventura

  4,350,666.00

  Indonesia

  16/12/2014

  Debt

Berkeley Energy Wind Mauritius Ltd.

Infrastructure

Berkeley Energy Wind Mauritius Ltd.

  1,000,000.00

  India

  09/06/2015

  Debt

European Financing Partners S.A.

Investment Companies & Funds

European Financing Partners S.A.

  6,000.00

  India, Kenya, Nigeria, Senegal, Tanzania, Zambia

  21/11/2003

  Equity

AgRIF Coöperatief U.A.

Investment Companies & Funds

AgRIF Coöperatief U.A.

  105,000.00

  Cambodia, India, Mongolia, Myanmar, Bolivia, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Peru, Burkina Faso, Côte d'Ivoire, Kenya, Senegal

  11/09/2018

  Subsidy

AgRIF Coöperatief U.A.

Investment Companies & Funds

AgRIF Coöperatief U.A.

  5,438,332.50

  Cambodia, India, Mongolia, Myanmar, Bolivia, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Peru, Burkina Faso, Côte d'Ivoire, Kenya, Senegal

  18/06/2015

  Equity

Utkarsh Microfinance Pvt Ltd

Financial Institutions

Utkarsh Microfinance Pvt Ltd

  3,625,555.00

  India

  25/03/2015

  Debt

KF Bioplants

Enterprises

KF Bioplants

  2,100,000.00

  India

  16/12/2014

  Debt

BTS India Private Equity Fund Ltd.

Investment Companies & Funds

BTS India Private Equity Fund Ltd.

  3,557,000.00

  India

  23/06/2006

  Equity

Rajasthan Sun Technique Energy Private Limited

Infrastructure

Rajasthan Sun Technique Energy Private Limited

  15,461,000.00

  India

  18/09/2012

  Debt

Ventureast Proactive Fund II

Investment Companies & Funds

Ventureast Proactive Fund II

  4,300,000.00

  India

  06/11/2017

  Equity

Annapurna Microfinance Pvt. Ltd

Financial Institutions

Annapurna Microfinance Pvt. Ltd

  1,942,313.00

  India

  27/06/2017

  Equity

Annapurna Microfinance Pvt. Ltd

Financial Institutions

Annapurna Microfinance Pvt. Ltd

  3,459,250.00

  India

  19/03/2014

  Equity

Berkeley Energy Wind Mauritius Ltd.

Infrastructure

Berkeley Energy Wind Mauritius Ltd.

  3,000,000.00

  India

  27/06/2011

  Equity

Srei Equipment Finance Private Limited

Financial Institutions

Srei Equipment Finance Private Limited

  8,808,720.00

  India

  26/02/2019

  Debt

Renewable Energy Asia Fund

Investment Companies & Funds

Renewable Energy Asia Fund

  6,000,000.00

  India, Philippines

  09/12/2009

  Equity

South Asia Clean Energy Fund

Investment Companies & Funds

South Asia Clean Energy Fund

  3,744,000.00

  India

  11/11/2010

  Equity

Ventureast Proactive Fund I

Investment Companies & Funds

Ventureast Proactive Fund I

  3,632,000.00

  India

  07/02/2008

  Equity

Triple P SEA Financial Inclusion Fund

Investment Companies & Funds

Triple P SEA Financial Inclusion Fund

  6,640,739.00

  Cambodia, Indonesia, Philippines, Vietnam

  14/11/2017

  Equity

South Asia Growth Fund II

Investment Companies & Funds

South Asia Growth Fund II

  2,000,000.00

  Bangladesh, India

  23/12/2020

  Equity

South Asia Growth Fund II

Investment Companies & Funds

South Asia Growth Fund II

  8,700,000.00

  Bangladesh, India

  10/05/2019

  Equity

Kaizen Private Equity II

Investment Companies & Funds

Kaizen Private Equity II

  8,338,200.00

  India

  12/11/2018

  Equity

Omnivore Partners India Fund 2

Investment Companies & Funds

Omnivore Partners India Fund 2

  4,367,820.00

  India

  15/04/2019

  Equity

Srei Equipment Finance Private Limited

Financial Institutions

Srei Equipment Finance Private Limited

  5,000,000.00

  India

  21/08/2002

  Debt