BECIS SEA Pte LtdStatus: Approved investment
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Who is our customer
Headquartered in Singapore, BECIS has a substantive and growing portfolio across Asia. As a leading Energy as a Service (EaaS) provider, BECIS believes that decarbonisation, decentralisation, and digitalisation of energy are the keys to enabling companies to achieving sustainable operations.
What is our funding objective?
FMO will provide a USD 50mln senior loan to fund Commercial & Industrial (C&I) solar projects in India and South-East Asia, targeting an increase in total operating capacity in line with the company’s investment and business plans.
Why do we fund this investment?
The investment will create distributed clean energy infrastructure for high quality corporate customers as well as local employment. It will allow these customers to fulfil their CSR targets targeting renewable energy supply and save on energy costs while also allowing the targeted countries to get closer to reaching their renewable energy targets – and supporting the energy paradigm shift from centralised to decentralised energy generation and utilisation. FMO will fund this project, as there is limited commercial long-term funding available for C&I solar projects in India and South-East Asia. The loan facility will enable BECIS to scale its portfolio until commercial debt funding can be attracted at country level as the operational portfolio matures.
What is the Environmental and Social categorization rationale?
This concerns an E&S Category B+ investment due to solar PV C&I construction and operation, labour rights and waste management risks in India and SEA, as well as potential solar supply chain Human Rights (“HR”) issues. The investment will be managed in alignment with IFC PS 1-4, with organisational capacity and competency, labour occupational health and safety, labour and working conditions, as well as waste management as focus areas. IFC PS 5-8 are not triggered since the transaction does not involve land acquisition, impacts on biodiversity, impacts on indigenous peoples or cultural heritage.
- Website customer/investment
- Publication date
- Effective date
- Total FMO financing
- USD 25.00 MLN
- FMO NV
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C)
- Loan participation