BECIS (BE C&I Solutions Holding Pte. Ltd.) headquartered in Singapore announced $53 million in new equity financing from its existing shareholders. These shareholders include FMO, KLP Norfund Investments, Pula Investments (represented by Berkeley Energy), and Siemens Financial Services.
The funding will support BECIS in expanding its decarbonization solutions across its eight operating markets namely India, Thailand, Indonesia, Vietnam, the Philippines, Malaysia, China, and Cambodia. BECIS specializes in renewable energy services such as Solar and Bioenergy, while also expanding into Cooling and Heating services under its New Solutions portfolio.
The company plans to use the funding to achieve its target of more than 600 megawatts peak (MWp) of Solar assets and 400 tons per hour (TPH) of Bioenergy assets within the next two years. It also looks forward to grow its Cooling and Heating services to support large corporations in meeting sustainability and decarbonization goals.
FMO, a development bank and long-time shareholder in BECIS, showed its support for the company. Ludger Middendorp, Manager of Private Equity at FMO, highlighted BECIS’s contributions to job creation and advancing renewable energy goals in its markets. Norfund, through its partnership with KLP, stated the importance of providing clean energy solutions to help companies operate sustainably.
Richard Collenette, CEO of Pula Investments, and Steffen Grosse, CEO of Siemens Financial Services Equity, both spoke about their shared interest in advancing sustainable energy solutions in Asia and reaffirmed their backing. BECIS CEO Eren Ergin stated that the new equity financing, combined with recent debt funding, will enable the company to further expand its operations and increase the adoption of renewable energy in its markets.
