July 12, 2022
Others
Idemitsu Enters into Partnership with Skye Renewables - Growth in the sustainable energy sector is positive for the entire region, helping drive the energy transition -
Idemitsu Kosan Co., Ltd. (Head Office: Chiyoda-ku, Tokyo; Representative Director and CEO: Shunichi Kito, “Idemitsu”) is pleased to announce that Idemitsu and Skye Renewables Holdings Pte. Ltd. (Head Office: Singapore, “Skye”) have signed a partnership agreement to promote renewable energy development in Southeast Asian countries.
Under the agreement, Idemitsu will invest through its wholly owned subsidiary to jointly develop commercial and industrial (C&I) solar projects across Southeast Asia with Skye, focusing on Singapore, Malaysia, Philippines and Vietnam.
There is a strong pipeline of projects already in place and the companies will soon be announcing the signing of solar power purchase agreements (“PPAs”) with a number of blue-chip clients across the region.
C&I solar is expected to continue growing rapidly in Southeast Asia, as increasing numbers of commercial entities, as well as public sector organizations, look to take direct action in reducing their environmental impact and energy costs.
Idemitsu and Skye will install advanced solar power generation systems at clients’ facilities, which will directly contribute to their decarbonization efforts. This partnership aims at providing clients with high-quality renewable energy and highly differentiated solutions in energy efficiency and ESG management. Idemitsu and Skye aim to become one of the most influential solar solution providers in the region, contributing towards a more sustainable society through collaboration with clients and partners.
About Idemitsu: Established in 1940, Idemitsu is one of Japan's leading producers and suppliers of energy. Idemitsu's operations comprise 67 business bases across the world. Under the company's Medium-term Management Plan Revision, Idemitsu aims to achieve 4GW of renewable energy capacity by 2030 and carbon neutrality by 2050.
[Reference] Skye Renewables Holdings homepage URL
https://www.skyerenewables.com/
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Idemitsu Kosan Co.,Ltd. Public Relations Department, Public Relations Division