British International Investment (BII), the UK’s development finance institution and impact investor, has committed $60 million to the Green Investment Partnership (GIP), a platform managed by Pentagreen Capital to finance green and sustainable infrastructure projects across Southeast Asia.
Southeast Asia is estimated to require around $210 billion annually to develop climate-resilient infrastructure — a funding demand that public finance alone cannot meet. To help address this shortfall, the Monetary Authority of Singapore (MAS) launched the Financing Asia’s Transition Partnership (FAST-P) in 2023, which established GIP as a mechanism to fund and de-risk climate projects in the region.
GIP operates as a blended-finance vehicle under FAST-P and has secured $510 million in committed capital from public, private, and philanthropic investors. The fund targets sectors central to decarbonisation and sustainable growth, including renewable energy, distributed generation, e-mobility, the circular economy, and emerging climate technologies.
Its initial investments include a bio-energy programme through BECIS Bioenergy, which converts agricultural waste and other sustainable feedstock into renewable steam, expected to cut more than 100,000 tonnes of emissions annually, and a renewables portfolio with ib vogt comprising utility-scale solar and battery storage projects projected to reduce around 257,000 tonnes of emissions each year.
BII’s $60 million contribution includes $10 million from its £100 million mobilisation facility, announced by the UK Prime Minister at the UN General Assembly in 2024. The commitment contributed to GIP’s first close and helped strengthen the fund’s capital structure to attract further private investment.
Leslie Maasdorp, Chief Executive Officer of BII, said: “We are proud to support GIP, which exemplifies the power of blended finance, bringing together development finance, public, and private capital to unlock opportunities that might otherwise remain out of reach. By supporting GIP, we are accelerating the low-carbon transition in South-East Asia and also demonstrating the power of innovative technologies and new business models.
BII’s participation is designed to catalyse further commercial investment, sending a strong signal to the market and helping to scale climate action across the region.”
Nik Mehta, British High Commissioner to Singapore, added: “The UK’s commitment to the Green Investment Partnership demonstrates our determination to mobilise private capital for climate action at scale into developing countries in South-East Asia. This pioneering approach, co-investing alongside Singapore and other partners through FAST-P, will help unlock significant private investment for clean energy and sustainable infrastructure projects across the region, driving growth and jobs in the process.”
BII said the investment aligns with its broader objective to mobilise climate finance at scale and expand access to commercial capital for sustainable development in emerging markets.
