Latest News | British International Investment, FMO Commit USD 50 Mn Loan to BECIS

New Delhi, Apr 15 (PTI) British International Investment (BII), the UK's development finance institution and Dutch entrepreneurial development bank FMO on Monday announced a USD 50 million (about Rs 417 crore) loan commitment to BECIS.

BECIS, an energy-as-a-service (EaaS) provider in South and Southeast Asia, offers a wide array of services, such as rooftop solar, bioenergy and energy efficiency solutions, tailored to meet the diverse needs of businesses and communities across Asia, a joint statement said.

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With a strong commitment to sustainability, BECIS leverages advanced technologies and strategic partnerships to optimise energy consumption, drive the adoption of renewable energy sources, enhance operational efficiency, build resilient energy infrastructure, and promote energy literacy within communities, it said.

The joint financing facility will be used to fuel BECIS' expansion and back their groundbreaking energy solutions across India, Vietnam, the Philippines, Indonesia, Thailand and Malaysia, it noted.

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This is in response to the growing demand for clean and affordable energy within these economies, the statement added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)