Impact asset manager responsAbility has committed up to $15 million to Singapore-headquartered Skye Renewables Energy, in a deal that signals the firm’s debut in two new Southeast Asian markets .
The investment is structured as private debt, sitting within responsAbility’s $500-million Asia climate investment strategy, which targets scalable private-sector infrastructure solutions across emerging and developing markets in the region.
The funding will support Skye Renewables as it scales its distributed renewable energy portfolio across Southeast Asia, where it currently operates in Malaysia, the Philippines, and Vietnam.
The company aims to grow its installed capacity to several hundred megawatts-peak within five years, riding a wave of rising energy demand across the region.
“Having a firm of responsAbility’s calibre and experience providing funding to Skye is very exciting and a testament to the great work by our team since we started in 2021. We hope that this is the start of a long and multi-faceted relationship with responsAbility,” Skye Renewables founder Ross Coull said.
Skye Renewables, founded in 2021, focuses on rooftop solar and integrated utility services for commercial and industrial (C&I) clients. Its target customers span sectors including shopping malls, manufacturing, pharmaceuticals, retail and fast-moving consumer goods.
“Skye Renewables represents the type of Southeast Asia-focused platform we seek to back—one that combines local market insight with scalable execution,” said Jay Bathija, principal for climate infrastructure investments at responsAbility, adding that the deal aligns with the firm’s push into high-growth Asian markets.
Existing investors in Skye Renewables include British International Investment (BII), the UK’s development finance institution; and Japanese energy major Idemitsu Kosan, through its subsidiary Shoseki International K.K.
Earlier this year, responsAbility received a 200-million-euro ($239 million) private equity fund investment mandate from Stella Vermögensverwaltungs GmbH, the investment vehicle of the Heinz Hermann Thiele Family Foundation and Julia Thiele-Schürhoff.
The strategy will invest over the long term in growth-oriented companies across Africa, Asia, and Latin America, deploying capital in regions where the opportunity to create impact is greatest and where private sector funding can help close critical gaps.
