British International Investment and Idemitsu Kosan to invest $17m in Skye Renewables.

British International Investment, the UK’s development finance institution, and Idemitsu Kosan, an energy company, agreed to invest $17m in Skye Renewables, a South-East Asia-focused renewable energy platform. Financial terms were not disclosed. “This investment marks the first direct equity investment by BII in South-East Asia since our re-entry to the region in 2022. Skye provides BII the opportunity to work with experienced partners like IKC, to scale up this renewable energy platform that will benefit the region. Our goal is to boost climate finance in the region and so we look forward to supporting more greenfield renewable energy capacity and local governments’ efforts on decarbonisation," Srini Nagarajan, BII Managing Director and Head of Asia.