BayWa r.e. and SUSI Partners target rooftop solar market in Southeast Asia

BayWa r.e. and Swiss-based infrastructure investment manager SUSI Partners have signed a framework agreement aimed at delivering solar energy solutions to Southeast Asia.

Capital will be directed from SUSI Partner’s Southeast Asia-focused Asia Energy Transition Fund (SAETF) towards the development of rooftop PV projects contracted with larger C&I 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 20MWp, initiated through PPAs with corporations.

BayWa r.e. will handle project development, execution, client relationships, and asset management. SUSI Partners, via their Asia Energy Transition Fund, will provide the required investment, taking full project ownership upon PPA finalisation.

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Niranpal Singh, BayWa r.e. managing director, Malaysia, said: "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 20MWp, and BayWa r.e. will help with developing, constructing, and operating these top-tier solar energy solutions."   

According to Wymen Chan, SUSI Partners’ head of Asia, on-site solar PV contracted with commercial and industrial offtakers is an increasingly key pillar of Southeast Asia's decarbonisation efforts.

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%.