Phnom Penh, September 29, 2020 – The Pioneer Facility, an impact fund managed by Nexus for Development, signed its first investment in Indonesia, with GREE Energy, an integrated biogas-to-energy operator contributing to the sustainable development of agriculture and food industries.
The Pioneer Facility loan of USD 100,000 is to assist GREE Energy in the development of four new biogas facilities in Indonesia while reaching completion of its first biogas project, the Hamparan biogas facility. Hamparan will be one of the largest grid-connected biogas-to-energy projects in Indonesia, providing enough electricity to reach more than 37,000 people, avoiding 65,000 tonnes of CO2 emissions a year, and treating more than 600,000 m3 of industrial wastewater a year.
GREE Energy was founded in 2013 by Nicolas Stirer, aiming to address the food industry pollution problem, combat climate change and improve access to energy and energy supply in rural areas, where electricity shortages and frequent unpredictable power outages occur. By connecting biogas technology to the renewable energy and corporate sustainability markets, GREE creates a business model that delivers more than just profit.
In their recent studies, GREE evaluates that for every dollar invested in their projects, 0.34 tons of CO2 emissions are avoided, 50 days of electricity for a single person living in Indonesia are generated and the equivalent of the sewage produced in a year by four people is treated.
The biogas-to-energy projects will provide benefits both on a community level as well as on an industry level. GREE directly contributes to SDG 3, 6, 7, and 13 through generating clean and reliable electricity to underserved rural areas, treating efficiently industrial wastewater, and capturing harmful gases for the earth and the community’s health.
By demonstrating the viability of its solutions with the first biogas-to-energy facility ready to start production, GREE is now ready to scale-up its activity by adding more projects to its portfolio with an aim to deliver 15 new biogas facilities in the next 5 years.
“This small loan facility is important for GREE to help us get through this difficult Covid-19 period. The partnership with the Pioneer facility will allow us to keep on providing practical solutions that can effectively address the global urgency of the climate crisis, rural underdevelopment and the industrial waste problem.”
Nicolas Stirer, Founder and CEO of GREE Energy.
About Pioneer Facility
Pioneer Facility is an innovative fund that provides scale-up capital, via working capital or capex loans, to enterprises that offer sustainable energy and clean water solutions to underserved populations in Southeast Asia.
For more information please contact: pioneerfacility@nexusfordevelopment.org
About Nexus for Development
Nexus for Development is an international not-for-profit organization founded on the principles of sustainable development. We drive access to finance in developing economies across Asia to increase sustainable energy and water resource development, advance low-carbon solutions, and scale local implementers.
For more information please contact: contact@nexusfordevelopment.org