We Provide A Zero CAPEX, Zero OPEX, End-to-end Rooftop Solar Solution To Meet The Sustainable Energy Needs Of Our Customers: Samresh Kumar  – Chairman and CEO, SkyX Solar

Samresh Kumar - Chairman and CEO, SkyX Solar

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In an insightful interview with SolarQuarter South East Asia magazine, Samresh Kumar  – Chairman and CEO, of SkyX Solar talks about the comprehensive solutions provided by the company, their highlights, and the future vision. He also elaborates on the improvements needed in the rooftop scenario in the region.


Tell us about the comprehensive solar solution provided by SkyX Solar and the highlights that make your solution stand out?

Over the last few years, SkyX Solar has established itself as a world-class rooftop solar developer and partner for leading commercial and industrial clients (“C&I”) in Vietnam.

We present ourselves as the renewable energy partner of choice for C&I customers. We provide a zero CAPEX, zero OPEX, end-to-end rooftop solar solution to meet the sustainable energy needs of our customers. Specifically, we 

Invest: From our own balance sheet.

Design: Our strong technical team in-house team performs site evaluations, custom system designs, and all necessary permitting procedures to ensure local compliance.

Build: We provide turnkey project delivery, which includes procurement, installation, and connection to the grid. With world-class tier 1 components, we ensure the highest quality solution and zero disruption to client operations.

Operate: We perform active monitoring as well as preventive and reactive maintenance with solid expertise in monitoring and operating solar assets.

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We sell the solar power thereby produced to our rooftop customers at a significant discount to the price they otherwise pay to EVN, thereby helping them save more than USD 5 mn per MWp of the solar system installed (over 30 yrs) by SkyX.

Which have been the major projects executed by SkyX solar? What have been some environmental benefits derived out of them in terms of CO2 saved?

SkyX currently has around 100 MWp of rooftop solar projects in different stages of operation, under construction, and development whereas we have an additional 150 MW in the pipeline.

We have clients across countries (Korean, Japanese, Vietnamese, Chinese, Thai etc), across sectors (Steel, F&B, Textiles, Cold Storage Warehouses, Hotels, etc), and across regions (South, Central, and North Vietnam).

A few notable projects:

-A 9 MW project across 12 roofs for Japanese SMES.

-A 5 MW project over probably the largest single-site cold storage warehouse in the country.

-Multiple projects for OEM Manufacturers for Decathlon, Nike, Adidas.

What is the rooftop scenario in the SEA region? What improvements are needed?

By 2050-2065, SEA aims to achieve net-zero emissions. As the majority of Southeast Asian nations currently rely on fossil fuels to meet their energy needs, achieving these goals will require significant effort. Indonesia (61%), the Philippines (57%), Malaysia (51%), and Vietnam (50%) have made coal-fired power more than half of SEA’s power in 2020. Some SEA countries use less coal, but Singapore and Thailand rely heavily on natural gas. With the shifting of US production to the south of China, there is definitely still a lot of room and demand for solar rooftops in SEA to develop.

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Starting primarily in the year 2020, Vietnam has added significant rooftop solar capacity and has become No.1 in SE Asia by far- official figures are 9,000 MW, but only a small fraction of it is on industrial rooftops. The potential still is a few thousand MWs in the next few years.

In Singapore, given the land constraints, only rooftop and floating solar can be developed.

In Indonesia, utility-scale is the key development direction. It has small rooftop solar development at the moment.

Philippines could see an accelerated development of rooftop solar after the latest Solar Rooftop Adoption Act.

Thailand has been slow in development in recent years because of policy reasons.

In Malaysia, rooftop solar is developing significantly.

The key improvements required are on the policy front- a clearer, enabling policy will help further the development of rooftop solar across the region-  the good thing is that financial incentives from the Govt are not required as its commercially attractive for investors to build without it.

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Where do you see SkyX Solar in the next 5 years?

SkyX Solar aims to be the leading renewable energy partner of choice for C&I customers. In the next 5 years, hopefully, we should have many hundreds of MWs operating rooftop solar systems, hundreds of leading companies as our customers, and hence annually creating a very significant positive impact on the environment. We will also provide Energy Storage as a solution to our clients when the conditions are appropriate in due course.

SkyX has full support from its shareholders, Vinacapital (the leading investment management group in Vietnam) and EDF Renewables (one of the world’s leading renewable energy companies), and plans to invest more than $100 million over the next few years to develop more green power systems in the country.

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