<article>Dutch development bank <a href="https://www.dealstreetasia.com/tag/FMO/">FMO</a> has proposed to invest up to $50 million for a minority stake in the soon-to-be established Berkeley Energy Commercial &amp; Industrial Company, an Asia-focused renewable energy developing company.</article>

Dutch development bank <a href="https://www.dealstreetasia.com/tag/FMO/">FMO</a> has proposed to invest up to $50 million for a minority stake in the soon-to-be established Berkeley Energy Commercial &amp; Industrial Company, an Asia-focused renewable energy developing company.
Berkeley Energy, founded in 2007, is an investor and developer of renewable power assets in emerging markets. Berkeley Energy currently has three funds under management, two related to Asia: the Renewable Energy Asia Fund (REAF) which is fully deployed and the Renewable Energy Asia Fund II (REAFII).
Berkeley Energy has offices in London, Singapore, Nairobi, Mauritius, Delhi and Manila.
The new company will develop, build and operate solar PV rooftop and ground mount installations for commercial and industrial (C&amp;I) customers in emerging markets under power purchase agreements, an FMO disclosure said.
Berkeley Energy&#8217;s C&amp;I business is currently already active in India and Thailand through REAF II, its second fund targeting renewable energy projects in South and Southeast Asia. REAF II will count as the majority shareholder of the new company.
In its disclosure, FMO said, the investment will be made in exchange for a significant minority stake in Berkeley and will be used to partially acquire the seed assets and further grow the company’s portfolio of C&amp;I assets.
The investment, the bank said, will create distributed clean energy infrastructure for high quality corporate customers as well as local employment and allow these customers to fulfill their CSR targets targeting renewable energy supply and save on energy costs. It will also enable the targeted countries to get closer to reaching their renewable energy targets – and supporting the energy paradigm shift from centralized to decentralized energy generation and utilization.
With this transaction, FMO further expands its cooperation with longstanding partner Berkeley Energy, the fund manager of REAF II and other emerging markets renewable energy funds that FMO has also invested in.
Earlier in the month, FMO announced a $16.5-million investment in Cambodia-based Sathapana bank to support the bank’s growth plans. In Feb, the FMO led a $15.2 million Series B round in Singapore-based P2P lending platform Validus Capital.
In India, the bank recently joined a $143.74 million investment round in Avaada Energy Pvt Ltd and has also proposed to offer a $35-million debt facility for the development of Upper Trishuli 1, a 216 MW greenfield hydropower project in Nepal, developed by IFC-backed Nepal Water and Energy Development Company (NWEDC).
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/dutch-fmo-may-invest-35m-debt-in-nepals-hydel-project-128715/">Dutch development bank FMO may invest $35m in Nepal’s hydel project</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/eversource-capital-to-invest-1b-in-indias-renewable-energy-sector-127004/">EverSource Capital to invest $1b in India’s renewable energy sector</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/japans-nikon-leads-95m-financing-in-us-cell-bio-firm-berkeley-lights-109033/">Japan’s Nikon leads $95m financing in US cell bio firm Berkeley Lights</a>

Berkeley Energy's C&I business is currently already active in India and Thailand through REAF II, its second fund targeting renewable energy projects.

Dutch development bank FMO may invest $50m in Berkeley Energy arm

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Dutch development bank FMO may invest $50m in Berkeley Energy arm

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief