Loraxian and SAS Sunrise have signed memorandums of understanding (MOU) to develop renewable energy projects in Southeast Asia, with initial focus on the Philippines.
It is anticipated that over the 20-year life of this agreement, a minimum of two gigawatts of new clean renewable power will be produced, providing both environmental and economic benefits.
Loraxian founder and CEO Roland Kielbasiewicz said: “I am absolutely thrilled to move forward in partnership with SAS Sunrise.
“As a proven global leader in the renewable industry, coupled with a track record of success in the region, they are the perfect long-term partner for us.”
While the joint venture agreement is designed to support positive growth in South-East Asia, Loraxian intends to maintain and expand its Ontario-based work force rather than relocate its corporate headquarters overseas.
Loraxian chief operating officer Albert Ferrer said: “Over the last decade, Ontario has supported the creation of an incredible knowledge base of skilled engineers with deep experience in the renewable industry.
“We at Loraxian want to harness that passion and skill rather than relocate – that’s why we have decided to significantly expand our Canadian operations to support our growth in international markets.”
Over the next twelve months, Loraxian intends to hire more than 50 new senior level specialized employees, based in Oakville, who will virtually manage significant elements of the new projects as they come online.
It is further anticipated that these employees will be supported by over 150 local workers in Loraxian’s new Manila regional office, as well as other target markets.
Ontario Minister of Energy Glenn Thibeault said: “This partnership agreement clearly demonstrates the international reputation that Ontario has earned in the renewable sector.
“I’m proud to say that Ontario has become a breeding ground for some of the best talent in the renewables sector. This agreement assists us in our goal of developing a 21st century low-carbon economy.”