BayWa’s renewables arm has partnered with SUSI Partners to deliver solar energy to south-east Asia.
The two partners have signed a framework agreement to direct capital from SUSI Partner’s Southeast Asia-focused Asia Energy Transition Fund (SAETF) to deliver larger rooftop photovoltaic (PV) projects contracted with larger commercial and industrial corporations.
The primary markets will be Thailand, Malaysia, Vietnam, the Philippines and Indonesia.
This partnership centres on the end-to-end development, construction, and operation of PV projects with a capacity of up to 20MW, initiated through PPAs with established corporations.
BayWa r.e. will handle project development, execution, client relationships, and asset management.
SUSI Partners, via its fund, will provide the required investment, taking full project ownership upon PPA finalisation.
According to a recent study by BayWa r.e. on Asia Pacific’s (APAC) energy outlook, almost half of corporate leaders revealed that affordable and clean energy is a top sustainability goal and, similarly, almost half of companies in APAC want to increase the use of renewable energy by more than 40%.
The injection of funds will help to scale and drive forward the region’s sustainability landscape by enabling companies to gain access to reliable and top-tier renewable choices. This aligns with BayWa r.e. and SUSI Partners’ objective to foster a sustainable society.
Niranpal Singh, BayWa r.e. Managing Director, Malaysia, said: “We look forward to expanding our services by being part of the SUSI Asia Energy Transition Fund, which aims to advance the energy transition in Southeast Asia’s emerging markets.
“We hope that due to this partnership, companies will be able to adopt PPAs and rooftop installations more quickly and efficiently.
“We’ve already identified an initial portfolio of over 20MW, and BayWa r.e. will help with developing, constructing, and operating these top-tier solar energy solutions.”