BII and Idemitsu partner with Skye Renewables to accelerate decarbonisation in South-East Asia [Yahoo! Finance]
IDEMITSU KOSAN CO LTD ADR (IDKOY)
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Source: Yahoo! Finance
The solar projects are expected to help displace consumption of on-grid electricity and avoid 270,000 tonnes of CO2 emissions annually. SINGAPORE March 26, 2024 /PRNewswire/ -- British International Investment (BII) , the UK's development finance institution (DFI) and impact investor, and Idemitsu Kosan (IKC), one of Japan's leading energy companies, today announced a joint investment into Skye Renewables Energy Pte Ltd. (Skye), a South-East Asia -focused renewable energy platform, forming a strong partnership to support the development of greenfield solar projects and decarbonisation of the region. South-East Asia is a region with an increasing demand for power and a high reliance on fossil fuels which creates an opportunity for the growth of renewable energy as part of decarbonisation efforts. While primary energy demand in the region is expected to grow by 1.8 times by 2050, renewable energy demand is estimated to grow by 4.4 times based on the current policy landscape.[1] E
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