Philippines-based renewable energy (RE) firm Berde Renewables Inc. is set to help accelerate green energy developments in Thailand.
In a statement, Berde Renewables and Thailand’s Power Systems and Solutions Co. Ltd. (PSS) announced a joint venture to develop and deploy solar photovoltaic, battery storage, and hybrid energy solutions in Thailand.
The collaboration would begin with 18.9 megawatt-peak (MWp) worth of operating assets, 30 MWp of under-construction projects, and 170 MWp in the pipeline.
Additionally, they have set to develop, own, and operate 300 MW RE projects in the next three years.
This, in turn, would support the rising RE demand in industrial, commercial, and grid-scale applications in Thailand.
According to Berde Renewables, the partnership would combine its clean energy technologies with PSS’s engineering, oil and gas, power, renewables, and industrial service expertise.
Backed by their utility-scale projects, corporate power purchase agreements (PPAs), and grid-stabilizing solutions, the two parties hope to expand their operations across the Southeast Asian region.
“Together, the companies will provide integrated solutions that enhance energy efficiency, and asset management, and extend the lifespan of key infrastructures across Thailand’s RE market,” it added.
Morris Zhou, co-founder of Berde Renewables, stated that the joint venture would not only be beneficial for the local firm and Thailand, but would also help accelerate the global transition to RE.
“By combining our strengths, we aim to deliver innovative, world-class RE solutions and empower organizations and industry leaders to drive decarbonization and sustainability, shaping a greener future,” he added.
Sam Yamdagni, PSS founder and chief executive officer, believed that the transition to clean and sustainable energy would need strong actions through strategic partnerships, and said, “This joint venture strengthens Thailand’s RE landscape by combining PSS’s deep market expertise with ISQ/Berde’s global expertise.”
Furthermore, Berde Renewables and PSS welcome other businesses and stakeholders who are interested in boosting the partnership towards RE transition.
Berde Renewables is an iSquared Capital portfolio company that develops, builds, and operates distributed RE projects. iSquared Capital, on the other hand, is a global equity firm focused on infrastructure investments such as energy, utilities, digitalization, and more.
PSS, on the other hand, currently delivers 198 MW worth of sustainable energy projects in Thailand.