The two partners have signed a framework agreement to implement rooftop PV installations for larger C&I companies with capital from Susi Partners' Southeast Asia-focused Asia Energy Transition Fund (SAETF).
The partnership will see the development, construction and operation of PV projects with a capacity of up to 20 MW, initiated through Power Purchase Agreements (PPAs) with well-known companies. BayWa r.e. is responsible for project development and execution, customer relations and asset management. Susi Partners will provide the necessary investments through the Asia Energy Transition Fund and take over ownership of the projects after the PPAs have been concluded.
Investments for affordable and green energy
According to a recent study by BayWa r.e. on the future of energy supply in Asia Pacific (APAC), nearly half of business leaders said affordable and green energy was one of their most important sustainability goals. Accordingly, nearly half of companies in APAC plan to increase their use of renewable energy by more than 40%. Thanks to the investments provided by the partnership, companies in the region will now have options to source electricity from reliable and high-quality renewable energy plants. This will make an important contribution to the implementation of the energy transition in the region.
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Niranpal Singh, Managing Director of BayWa r.e. Malaysia, commented, "We are pleased to be able to expand our offerings under the Susi Asia Energy Transition Fund and drive the energy transition in the emerging markets of Southeast Asia. We hope this partnership will enable companies to implement PPAs and rooftop installations faster and more efficiently. We have already identified an initial portfolio of over 20 MW and BayWa r.e. will assist in the development, construction and operation of these high quality solar energy solutions."
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Wymen Chan, Head of Susi Partners in Asia, added: "With SAETF, we aim to make a significant contribution in a fast-growing region that has immense economic potential as well as opportunities to mitigate climate change. On-site PV systems for commercial and industrial customers have become a key pillar of Southeast Asia's decarbonization goals. We look forward to enabling this transition together with BayWa r.e. through a shared commitment to best practice environmental, social and governance (ESG) standards." (hcn)
