BayWa r.e., a Germany-based renewable energy company whose core markets are Europe and the U.S., has expanded its solar business in Southeast Asia.
From its offices in Singapore and Bangkok, the company will manage solar projects in Thailand, the Philippines, Malaysia, Indonesia and other Southeast Asian countries. BayWa r.e. says it will also tap into the market potential of this region for the benefit of its photovoltaic trade business and look to strengthen existing contacts.
The holding company, BayWa r.e. Solar Pte Ltd., is based in Singapore and was founded in 2015. This was followed in spring 2016 by the regional subsidiary BayWa r.e. Thailand Co. Ltd.
Southeast Asia, however, is not completely new territory for BayWa r.e., as Daniel Gäfke, managing director of BayWa r.e. Solar Pte Ltd., explains.
“Thanks to our experience both in trade with solar modules and inverters, as well as in the project business, we already know the local situation well. We will also benefit from the expertise of our newly created team,” says Gäfke. “Our goal is to acquire attractive projects, construct them on a turnkey basis and then resell them. We have already had great success in many markets around the world with this concept and aim to roll it out in as many Southeast Asian countries as possible.”