Actis acquires leading Asia cooling systems energy efficiency provider bbp
Actis acquires bbp to scale energy-efficient HVAC solutions across Asia, driving decarbonization and cost savings under its Climate Transition strategy
LUXEMBOURG, 22 July 2025: Actis, a leading growth markets investor in sustainable infrastructure, has acquired a 100% stake in Barghest Building Performance (bbp), a leading Energy-Savings-as-a-Service (ESaaS) provider for heating, ventilation and air conditioning (HVAC) systems in Asia.
bbp provides innovative energy efficiency solutions which aim to unlock up to 40% energy savings through a combination of patented software, proprietary know-how, sensors and controllers. bbp’s platform is complemented by machine learning and AI, modelled using real data from more than 400,000 Refrigeration Tons (RT) of cooling systems optimised by bbp across 9 markets in Asia.
In addition to optimising existing cooling systems, bbp also selectively upgrades customer equipment using its proprietary know-how, achieving higher potential savings for customers at a lower capital expense. bbp typically funds the deployment of its optimisation solutions and clients’ HVAC equipment upgrade, enabling asset owners and operators to focus on their core competencies while enjoying savings and carbon emission reductions. The investment by Actis aims to enable bbp to undertake larger projects to further accelerate its growth.
The business serves operations like semiconductor and pharmaceutical manufacturing, data centres, district cooling plants, hospitals, and commercial buildings. Among its customer base are three of the world’s top 10 semiconductor manufacturers, Fortune 500 companies and some of Asia’s top 20 commercial real estate firms. Through bbp’s services, customers have avoided 312,000,000kg CO2e and saved approximately US$92 million.
Boon Chye Hoe, bbp’s Chief Executive Officer, will continue in his role to lead the organisation’s 120-person strong team and scale the platform for future growth.
Actis’ investment aims to capitalise on the macro-tailwinds in Southeast Asia’s energy efficiency sector, with businesses seeking to increase their energy efficiency to reduce costs and carbon emissions as well as meet regulatory requirements. Singapore’s National Environment Agency has set Minimum Energy Efficiency Standards (MEES) for chilled water systems in industrial facilities, with energy-intensive facilities such as those used in semiconductor manufacturing needing to meet MEES by December 2025. Other industrial facilities, such as those used in the pharmaceuticals sector, have until December 2029 to meet the new standards.
bbp provides innovative energy efficiency solutions which aim to unlock up to 40% energy savings through a combination of patented software, proprietary know-how, sensors and controllers. bbp’s platform is complemented by machine learning and AI, modelled using real data from more than 400,000 Refrigeration Tons (RT) of cooling systems optimised by bbp across 9 markets in Asia.
In addition to optimising existing cooling systems, bbp also selectively upgrades customer equipment using its proprietary know-how, achieving higher potential savings for customers at a lower capital expense. bbp typically funds the deployment of its optimisation solutions and clients’ HVAC equipment upgrade, enabling asset owners and operators to focus on their core competencies while enjoying savings and carbon emission reductions. The investment by Actis aims to enable bbp to undertake larger projects to further accelerate its growth.
The business serves operations like semiconductor and pharmaceutical manufacturing, data centres, district cooling plants, hospitals, and commercial buildings. Among its customer base are three of the world’s top 10 semiconductor manufacturers, Fortune 500 companies and some of Asia’s top 20 commercial real estate firms. Through bbp’s services, customers have avoided 312,000,000kg CO2e and saved approximately US$92 million.
Boon Chye Hoe, bbp’s Chief Executive Officer, will continue in his role to lead the organisation’s 120-person strong team and scale the platform for future growth.
Actis’ investment aims to capitalise on the macro-tailwinds in Southeast Asia’s energy efficiency sector, with businesses seeking to increase their energy efficiency to reduce costs and carbon emissions as well as meet regulatory requirements. Singapore’s National Environment Agency has set Minimum Energy Efficiency Standards (MEES) for chilled water systems in industrial facilities, with energy-intensive facilities such as those used in semiconductor manufacturing needing to meet MEES by December 2025. Other industrial facilities, such as those used in the pharmaceuticals sector, have until December 2029 to meet the new standards.
Asanka Rodrigo, Partner, Energy Infrastructure at Actis, commented: “Cooling systems can be very energy intensive and bbp’s Energy-Savings-as-a-Service offering has a key role to play to help businesses reduce their costs and carbon emissions. Energy efficiency is key to decarbonisation and we’re delighted to be acquiring an innovative leader in this field with bbp. We believe it has a bright future ahead of it and we look forward to accelerating its growth.”
Boon Chye Hoe, Chief Executive Officer at bbp, said: “Space cooling typically consumes up to 60% of an asset’s energy usage in Asia. With more than 400,000 RT of cooling systems optimised across 9 markets and generating savings year-over-year, bbp is excited to partner with our clients and Actis to further unlock value through cooling systems.”
bbp marks the latest investment from Actis’ SFDR Article 9 aligned Asia Climate Transition strategy. Previous investments include backing BGPL, a smart metering joint venture with EDF India, and Korean solar platform Argo Energy.
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Fund manager
Actis
London, United KingdomActis is a leading global investor in sustainable infrastructure.
Actis targets consistent superior returns across asset classes over the long-term, bringing financial and social benefits to investors, consumers and communities. We believe values drive value.
Actis is a leading global investor in sustainable infrastructure.
We deliver competitive returns for institutional investors and measurable positive impact for countries, cities, and communities in which we operate. Our global experience, operational know-how and strong culture allow us to create global sustainability leaders. We do it at scale. And have been doing so for decades. Since inception, we have raised circa US$25 billion to invest in a better tomorrow.
In October 2024, Actis joined forces with General Atlantic, a leading global growth investor, creating a diversified, global investment platform with approximately $87 billion in combined assets under management. Actis operates as General Atlantic’s sustainable infrastructure business. This strategic combination further enhances Actis’ focus as a leader in global sustainable infrastructure.
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