In December 2022, OeEB invested USD 8.5 million in the SUSI Asia Energy Transition Fund SCSp (“SAETF”) on behalf of the Austrian Ministry of Finance. SAETF is a climate fund and aims to invest in proven renewable energies, energy efficiency and electricity storage in Southeast Asia in order to avoid and reduce CO2 emissions.

Project name SUSI Asia Energy Transition Fund ("SAETF")
Region Southern and Eastern Asia
Sector Energy / Resource efficiency / Infrastructure
Service Equity Participation
OeEB project volume USD 8.5 million
International climate finance according to UNFCCC Yes
Additionality Financial and value additionality 
Fund domicile Luxembourg
Projekt partner(s) SUSI Asia Energy Transition Fund SCSp ("SAETF")

SAETF is targeting investments in seven out of ten countries of the Association of Southeast Asian Nations (ASEAN): Indonesia, Vietnam, Thailand, Philippines, Cambodia, Laos and Malaysia. Around 660 million people currently live in the ASEAN member countries. In 2050 the population is expected to be around 790 million. It is estimated that the electricity demand will double by 2040. The majority of power generation in the region is currently based on fossil fuels. At the same time, Southeast Asia has a great renewable energy potential. 

The focus of the Fund is to supply additional – clean – electricity capacities (on-grid and off-grid) as well as saving energy (e.g. in industry and service buildings). With equity provided by OeEB, the financing gap for local project developers and energy service providers will be narrowed. Over the investment period, a broad diversification in terms of technologies, project partners, countries and project phases will be reached.

The Fund has a term of 10 years, and its investments are managed by a dedicated team in Singapore belonging to SUSI Partners AG (Switzerland), which has many years of experience in the sectors mentioned.