Expansion of solar business to South-East Asia
BayWa r.e. targets the South-East Asian market: from its offices in Singapore and Bangkok, the company will manage solar projects in Thailand, the Philippines, Malaysia, Indonesia and other South-East Asian countries. BayWa r.e. will also tap into the market potential of this region for the benefit of its photovoltaic trade business and look to strengthen existing contacts. BayWa r.e. is attending the ASEAN Sustainable Energy Week for the first time.
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. Our local team consists of eight expert employees who bring with them many years of experience and knowledge of regional markets. This year, to mark its entry into the market, BayWa r.e. will make its début at the ASEAN Sustainable Energy Week 2016 in Bangkok, and will be on hand from 1 to 4 June to inform trade visitors about its wide range of products and services.
Matthias Taft, Board Member of BayWa AG, responsible for the energy business, explains this strategic expansion step: "For us, South-East Asia is an exciting, rapidly growing region, where renewable energy is in high demand. Here, as elsewhere, we aim to implement our proven business model – both in project planning and the trade of photovoltaic components – and impress our customers with our high, certified quality standards."
South-East Asia, however, is not complete 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. 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 South-East Asian countries as possible."