August Energy, an Energy-as-a-Service (EaaS) infrastructure platform headquartered in Singapore, with offices in India, the Philippines and Thailand is an emerging infrastructure platform helping commercial and industrial (C&I) clients in Southeast Asia and India to meet their decarbonisation goals.
The funding will help to further accelerate August Energy’s rapidly expanding portfolio of EaaS infrastructure projects in India and Southeast Asia. August Energy focuses primarily on decentralised energy infrastructure for C&I clients in India and Southeast Asia. The company develops, owns and operates EaaS projects across two business verticals, namely, Generation (renewable energy with storage, onsite and through the grid) and Integrated Utilities (including cooling-as-a-service and steam-as-a-service solutions). Target sectors include for example, manufacturing, automotive suppliers, pharmaceuticals, healthcare, hospitality, Fast-Moving Consumer Goods (FMCG), and data centres. This current capital raise will strengthen August Energy’s capital base and allow it to scale its project portfolio, with an aim to deliver over one gigawatt (GW) within five years.
Bringing Proparco, a leading development finance institution partly owned by the French Development Agency, on board is a strategic step to accelerate August Energy’s asset development in the region. There is a huge addressable market for EaaS solutions, primarily driven by decarbonization, digitalization and strong demand for sustainable solutions. Businesses are adopting EaaS to cut CAPEX, reduce emissions, and improve efficiency via sustainable and bankable models for energy, cooling, solar, and BESS solutions. August Energy remains committed to participating in the growing EaaS market.
Rohit NANDA
Chair of August Energy and Head of Sustainable Infrastructure at Aravest
Energy as a Service is a capital-intensive business that requires partners with a long-term horizon in developing, owning and operating infrastructure assets. The addition of Proparco, in partnership with Aravest, as a shareholder provides us with the continued institutional capital needed to accelerate our asset deployment in Southeast Asia and India. This partnership empowers us to accelerate our asset base, unlocking decarbonisation, cost efficiency and reliability benefits for our customers at scale and profitably.
Kunal MEHTA
CEO and founder of August Energy
This investment in August Energy fully aligns with Proparco’s strategy to support solutions that accelerate the energy transition in emerging markets. Energy-as-a-Service models play a critical role in enabling industrial and commercial clients to decarbonise while preserving capital and strengthening competitiveness. By partnering with August Energy, a fast-growing regional platform with strong operational capabilities, Proparco aims to support the deployment of resilient, low-carbon energy infrastructure at scale across India and Southeast Asia, delivering tangible climate, economic and social impact.
Claudia MARTINEZ OCHOA
Head of the Asia & Latin America Private Equity division at Proparco
