BECIS will act as the investor, developer and operating partner, holding the assets on the balance sheet, while SI will be the technology provider
Combining its financial expertise with intelligent energy solutions and services, Siemens has entered investment and framework agreements with Berkeley Energy Commercial Industrial Solutions (BECIS). Together, they will provide customers access to distributed energy solutions via a flexible ‘Energy as a Service’ (EaaS) model, allowing customers in the Asia Pacific market to pay for energy services without the need for any capital investment. This will address customers’ energy cost and sustainability challenges.
Under the agreements, Siemens’ financing arm – Siemens Financial Services (SFS) – becomes a major shareholder in BECIS. At the same time, Siemens Smart Infrastructure (SI) will contribute technical expertise from its existing footprint in energy and performance services (EPS) projects to BECIS, complementing the latter’s experience in distributed energy generation solutions. BECIS will act as the investor, developer and operating partner, holding the assets on the balance sheet, while SI will be the technology provider.
EaaS is a business model that allows customers to partner with a solutions provider such as BECIS and pay for an energy service over time, without the need for any upfront capital investment. The long-term asset ownership resides with the solutions provider in this business model, in addition to the responsibility of deploying, constructing, operating and maintaining the assets. This offers the ability for end-to-end management of a customer’s energy infrastructure, typically utilizing a variety of elements, including renewable energy resources, waste heat recovery, storage systems, energy metering and beyond.
“Energy systems are changing along with the business models that underpin them. We want to accelerate more sustainable and distributed systems. Together with BECIS, we can support our customers with cutting-edge technology and flexible financing solutions,” said Cedrik Neike, managing board member of Siemens AG and CEO of Siemens Smart Infrastructure. “We’re creating a solution that mitigates risks, reduces operating costs, while driving adoption of sustainable energy options.”
Headquartered in Singapore, BECIS provides distributed energy solutions to commercial and industrial customers globally with a substantive footprint within the Asian market. It currently operates a large portfolio of distributed energy solutions assets across countries such as India, Indonesia and Thailand with teams to serve customers based in Delhi, Pune, Bangkok and Surabaya. The partnership with Siemens will support further growth in BECIS’s current markets as well as immediate expansion into other markets in the region, such as the Philippines, Vietnam, China and Malaysia.
“BECIS has been successfully supporting customers’ energy transition by offering distributed energy solutions. Together with Siemens we will be able to significantly expand our integrated solution offerings including renewable energy, combined heat and power, storage systems, hybrid solutions and energy management solutions to better support our customers to meet their key energy challenges of reducing costs, improving security of supply and enhancing their sustainability credentials,” said TC Kundi, CEO of Berkeley Energy and Chairman of the Board of BECIS.
The agreements will also see the formation of a ‘Solutions Forum’ where SI and BECIS convene to explore business opportunities and technology to drive forward distributed energy solutions, energy optimization and EaaS.
Source: Company Press Release