Siemens: becomes major shareholder in Singapore's BECIS

(CercleFinance.com) - Siemens is becoming a major shareholder in BECIS, a Singapore-based expert in energy systems, the German industrial giant said on Wednesday.


Together, the companies plan to provide access to distributed energy 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, it said.

Under the deal, Siemens' smart infrastructure business will contribute technical expertise to BECIS, with the latter acting as the investor, developer and operating partner, holding the assets on the balance sheet.

Siemens - which did not disclose the financial terms of the agreement - said it will be the technology provider of the partnership.

Founded in 2019, BECIS is currently operating in Singapore, Bangkok, Delhi, Pune and Surabaya. It is owned by Berkeley Energy, a private equity fund that focuses on renewable energy projects in Asia and Africa.

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