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- Recent business highlights for the region include opening our solar distribution warehouse and new office facilities, and a Wind Projects Representative office in Langson, Vietnam.
- Our collaboration with UBE has been a smooth journey and it has given us the confidence to work with more corporate partners.
- BayWa r.e. strives to help partners rethink their energy transition strategies and also to aid them towards best practices and solutions in their approach.
How is BayWa r.e. developing its presence in the Southeast Asia market? What growth opportunities lie there?
BayWa r.e. has been actively working on increasing its presence in the Southeast Asian region through setting up local offices and warehouses, building and providing renewable energy solutions, and working with local partners.
Recent business highlights for the region include opening our solar distribution warehouse and new office facilities, and a Wind Projects Representative office in Langson, Vietnam. We also announced the development and sale of our first Floating Photovoltaic farm in collaboration with Ubon Bio Ethanol PCL (UBE) in Thailand; and in the Philippines, we were recognized and awarded Solar Company of the Year (Distributor) twice for our local team. Our team is also growing year on year and we are a family of more than 125 people in Southeast Asia (more than 225 in APAC and 4,000 globally). We have 4 warehouses in the region for our distribution business and have sold more than 300 MW of inverters just this year, close to 100 MW of capacity built in SEA by our projects team and a number of ongoing solar rooftop projects with various corporations by our Energy Solutions team. We are currently developing wind and solar projects in all our key markets, which are Vietnam, Thailand, the Philippines and Malaysia at the moment.
These are just some of the milestones we have achieved and celebrated within the past year and we are beyond excited for the opportunities that lie ahead of us.
Southeast Asia is a key market for BayWa r.e. Based on research findings by PwC, this region’s energy demand is expected to increase by 60% by 2040, with energy capacity increasing at a CAGR of a cumulative 9.7%. (excluding hydro). This presents vast business opportunities for BayWa r.e., not only in terms of building new projects to contribute to the region’s renewable energy transition but also expanding business prospects for us.
Furthermore, in light of goals set during COP26, BayWa r.e. is also committed to providing assistance in enabling efficient energy transition processes for countries in the region. We are proud of what we are able to achieve thus far and are looking forward to announcing more successes for Southeast Asia and increasing BayWa r.e.’s footprint here.
Tell us about the recent selling of the first floating photovoltaic farm in Thailand to UBE.
The sale of our first floating photovoltaic in Thailand with UBE marks a key success for BayWa r.e. in this region, and it has definitely solidified our position in this segment in SEA as an advocate for the adoption of renewable energy solutions. This sale is significant for BayWa r.e. as this project is not only the first for us in Thailand but also our first floating solar project outside of Europe where we are the market leader for floating solar solutions. Our collaboration with UBE has been a smooth journey and it has given us the confidence to work with more corporate partners. More importantly, the sale of the farm has also highlighted our capability in being a key renewable partner. We have also completed successful sales of projects in other countries, including Malaysia, Japan, Australia and Korea over the last years. These sales serve as a testament to our expertise and we hope to collaborate with more corporations and government agencies to benefit our key stakeholders.
Do you think continuous efforts in partnerships can aid energy transition processes? How?
The path towards COP26 goals should not be a walk alone – partnerships are definitely pivotal in energy transition processes. We believe that bringing together the expertise from different organizations and agencies will help to create processes that are effective and efficient. Furthermore, the monetary support from such collaborative efforts also serves as a substantial factor in successful energy transition strategies.
Aside from companies like BayWa r.e., we believe that everyone has a fundamental role to play in keeping on track towards reducing carbon emissions and adopting renewable energy solutions.
BayWa r.e. strives to help partners rethink their energy transition strategies and also to aid them towards best practices and solutions in their approach.
Where do you see South East Asia currently poised to attain its 23% RE target by 2025?
Every country in this region has different strategies and end goals. From a macro scale, however, we do observe that the region is well-poised to attain its 23% RE target by 2025. This is given the current efforts that we see in these countries.
On a micro level, there are still gaps in processes that need to be addressed. Should every country be committed to reaching its own RE targets and work towards bridging these gaps, there would be potential for Southeast Asia to anticipate current targets to be surpassed.
What are some of your new projects in the pipeline in the upcoming year?
We do have new projects in the pipeline not only in the Asia Pacific but across the globe as well, for the upcoming year and will share these great achievements and business updates when the time is right.
We are constantly looking out for new opportunities and have amazing teams working hard on the ground for our partners, helping to ensure consistent business momentum and growth for BayWa r.e.