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LYS Energy Group (LYS Energy), the leading Singapore home-grown Solar Independent Power Producer (IPP), is pleased to announce the signature of an agreement with Leader Energy, a Singaporean IPP wholly owned by HNG Capital Sdn. Bhd. of Malaysia, allowing for the acquisition of 100% of the shares of LYS Energy.
KPMG in Singapore acted as the financial advisor to LYS Energy, a pan ASEAN renewable energy corporate power purchase agreement (PPA) platform, making possible one of the most important renewable energy acquisitions in Singapore.
This agreement represents a significant step for LYS Energy to continue its expansion across the region, as the Group grows its solar power business in a disciplined, consistent, and purposeful way.
As the adverse effects of climate change continue its race, so do unpredictability for commercial and industrial sectors.
With its focus on distributed renewable energy generation development, LYS Energy is aligned with Leader Energy’s vision to power the region in a sustainable, innovative, and socially responsible manner, said Lionel Steinitz, Founder and Chief Executive Officer of LYS Energy Group.
Mr. Gan Boon Hean, Group CEO of Leader Energy, said “Today’s acquisition represents another important milestone for Leader Energy as we continue to push towards renewable energy portfolio in Southeast Asia with our green investment policy”.
“We are glad that this partnership has brought us one step closer to our goal. With our strong financial backing and more than 26 years of experience in the power sector, Leader Energy will continue to expand and grow steadily and rapidly in a clean, dynamic, and resilient energy economy dominated by renewables.” he added.