Finnfund commits USD 15 million to August Energy's growth in Asia

Finnfund, the Finnish development financier, has committed an additional USD 15 million to an Aravest-managed investment vehicle. This funding will provide growth capital for August Energy, an Energy-as-a-Service (EaaS) infrastructure platform operating in Southeast Asia and India.

The capital injection will support August Energy's expansion across its operational markets, which include India, the Philippines, Vietnam, Malaysia, and Thailand. The company develops, owns, and operates EaaS projects focusing on renewable energy with storage, as well as integrated utility services like cooling-as-a-service.

August Energy serves a diverse range of sectors, including manufacturing, automotive suppliers, pharmaceuticals, healthcare, hospitality, and data centers. The company aims to scale its project portfolio to over one gigawatt within the next five years.

This investment by Finnfund is part of a broader funding round that includes France's Proparco and the Asia-Pacific Sustainable & Decarbonisation Infrastructure Equity (SDIEF). The initiative is supported by an EU-backed guarantee under the Global Gateway strategy, designed to mitigate investment risk and facilitate renewable energy deployment.

"Finnfund's participation reflects the quality of the August Energy platform and the strength of Aravest's sustainable infrastructure franchise," stated Rohit Nanda, Head of Sustainable Infrastructure at Aravest. "Asia presents a significant market for EaaS solutions that help companies improve cost efficiency, reduce emissions, and enhance energy resilience."