Belgium-based Virya Energy has acquired BayWa re’s Japan solar business to expand into the Japanese renewable energy market.
Under the terms of the deal, BayWa re’s Japan team will transition to the Virya Energy brand, providing their local knowledge of the market to the Belgian company which will also take over BayWa re’s existing portfolio of more than 60 MW DC+ of assets in development and operation.
Virya Energy already has interest in Asia, and this deal marks its formal entry into the Japanese market. The company’s Asian affiliate, Constant Energy, has already carried out several long-term power purchase agreements (PPAs) with leading Japanese companies.
Franck Constant, Founder of Constant Energy and CEO of Virya Energy in Asia, said the new deal will draw on its established regional network and “proven expertise with servicing industrial clients”. Constant Energy’s portfolio of solar, wind and battery energy storage projects in Thailand, Malaysia and Vietnam amounts to more than 250 MW. In November, it signed a deal with global solar module manufacturer Tongwei for the supply of high-efficiency solar modules across Asia. One of the projects under this partnership is a 52 MW solar farm in Malaysia, awarded to Constant Energy under the fifth Large Scale Solar program run by the Malaysian government.
“We are pleased to welcome the team joining from BayWa re into Virya Energy,” said Virya’s CEO, Paul Tummers. “The acquisition represents a transformative moment for our growth strategy in Japan. Beyond expanding our footprint, we are integrating a highly capable and dedicated team that brings immediate, critical capacity in one of Asia’s largest renewable energy markets. We look forward to realizing the full potential of this combined platform.”
Headquartered in Belgium’s Walloon region, Virya Energy was founded in 2019 through a strategic partnership between Belgian retail corporation Colruyt Group and its majority shareholder Korys, the investment arm of the Colruyt Group.
The company’s team has been involved in renewable energy developments going back several decades, including onshore wind and hydrogen. Its solar division was recently boosted by the acquisition of French solar company Sunopée in 2024. Virya acquired 100% of the French company to strengthen its position in France's commercial and industrial rooftop market.
Virya Energy has several rooftop and canopy solar projects in France and Thailand, with some small rooftop projects due for commissioning in 2026.
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