The growing awareness from the corporate sector of the need to tackle climate change challenges is prominent towards the adoption of more sustainable and responsible business practices. This necessity of low-carbon activities has brought about a surge in clean energy demand in the region. LYS’ dedication to foster the use of greener and cleaner energy in the corporate sector is aligned with that of the ASEAN Government’s momentum to boost up the adoption of renewable energy.
The Memorandum of Agreement (MOA), remotely signed via online ceremony due to the current global COVID-19 outbreak, comprises the deployment of a total of 30MWp of distributed solar PV systems projects in ASEAN countries. By combining both companies’ excellent proficiency i.e. Talesun’ high-quality technology and trustworthy Engineering Procurement Construction (EPC), and LYS Energy’s robust financing capability and steadfast Operations & Maintenance (O&M) expertise, this new collaboration aims to actively contribute to the development of clean energy fast-growing market.
In addition to the partnership agreement between the two companies, LYS and Talesun concluded on the imminent development of a cumulated size of 2.9MWp rooftop solar PV systems in the region of LongAn province in Vietnam. The corresponding agreement encompasses five solar PV systems installation atop of plastic & rubber product manufacturing industrial factories, using a total of 3810 high-efficiency Mono-PERC Talesun Solar modules, and with emphasis on compliance with best-in-class Quality and Health Environment and Safety (HSE) standards. Talesun will act as the EPC contractor of these rooftop solar PV systems, while LYS will finance the projects and will be responsible for the operation and maintenance of the PV systems throughout the contract lifetime. The construction will be executed starting from the second half of this year and is expected to be completed before the end of 2020. The energy generated will be used to power the five factories’ daily operations and offset their CO2 emissions by approximately 3,569 tonnes1 annually. (1https://iges.or.jp/en/pub/list-grid-emission-factor/en)
LYS Energy Group has deployed more than 50MWp of high-performance solar photovoltaic (PV) systems, with a pipeline of more than 500MWp in Singapore and South East Asia. It is one of the fastest-growing clean energy producers and end-to-end solutions providers, with a five-star portfolio of commercial and industrial projects and customers across diversified and multiple industries. These comprise energy-intensive industries such as aerospace, electronics, food and beverage, logistics, manufacturing, pharmaceutical, and real estate.
Mr. Lionel Steinitz, Founder and Chief Executive Officer of LYS Energy Group, said:
“Since its incorporation in 2013, LYS Energy Group has been a pioneer in rolling-out distributed solar solutions and is recognised today as a key figure of renewables in South East Asia. Our holistic approach to sustainable development, through GHG emissions measuring and reporting, carbon emissions reduction, and offsetting, has granted us the praise of our customers and our partners, supportive of the innovative solutions that we tailored for them.
This new achievement acknowledges our Group’s dynamic and robust business solutions, combined with solid technical expertise to innovate and develop high-quality solar PV systems in the region. Furthermore, this collaboration agreement with Talesun Solar will strengthen our company’s expansion and marks another significant milestone in our journey to accelerate the adoption of a low-carbon economy activity is ASEAN countries.”
Mr. William Sheng, Chief Executive Officer of Talesun Solar, said:
“We are thrilled to be partnering with LYS Energy Group for distributed solar PV systems projects in ASEAN countries. We are delighted to see that the superior quality of our products alongside our experienced EPC services are recognised. With cumulative developed and built more than 7 GW PV projects globally, we will carry on executing our growth of development and EPC strategies in the distributed and utility segments while further diversifying our client and optimising our solution to expand our footprint worldwide. “
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