German solar developer BayWa r.e. has become the latest in a long line of PV-related companies to make strides towards South East Asia to take advantage of the growing market potential of the region. BayWa has already opened offices in Singapore and Thailand, which will act as the companys bases in the region, and now it has announced its first appearance at the ASEAN Sustainable Energy Week 2016 in Bangkok from 1 to 4 June.
Wholly owned subsidiary BayWa r.e. Solar Pte Ltd. was opened in Singapore in 2015, which was then followed by BayWa r.e. Thailand Co. Ltd. in 2016. These will be used as the companys South East Asian bases, with the view of developing and managing projects Thailand, the Philippines, Malaysia, and Indonesia, as well as any other countries in the region.
Our goal is to acquire attractive projects, construct them on a turnkey basis and then resell them, said BayWa r.e. Solar Pte Ltd. managing director Daniel Gäfke. 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.
Steps into a bustling market
BayWas core business has historically been centered in Europe and the U.S. Most recently it has been conducting a lot of PV business in the U.K., including selling various solar farms, and beginning to offer solar loans for U.K. customers. However, with dwindling support for solar PV within the country, BayWas activity in the U.K. may very well be about to decline.
Closer to its more established markets, BayWa recently showed an interest in expanding into the growing Turkish solar market, which is considered to be one of the most interesting markets for European solar firms.
But it is South East Asia that is making headlines as one of the most exciting regions in the world for PV development. Many countries in the region have welcomed solar technology since the emergence of China as the global solar powerhouse, with large projects recently being developed in the Philippines, Thailand, and Vietnam.
To take advantage of the growing popularity of solar in South East Asia, various companies have been making strategic moves to optimize their position. Just last week, Huawei and Sunseap entered into a strategic cooperation for the Southeast Asian market, while Samsung SDI also announced the opening of a new PV paste facility in China to function as a production base to expand into South East Asian countries. The recent announcement from BayWa r.e., shows that the German company didnt want to get left behind.
For us, South East Asian is an exciting, rapidly growing region, where renewable energy is in high demand, said BayWa AG board member Matthias Taft. 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.