LOGOS, Engie to build regional renewable energy platform

LOGOS and French energy company Engie on Wednesday said they will build a regional renewable energy platform to provide solar generation and renewable energy options for the former's Asia-Pacific portfolio.

The new platform is expected to avail 50 to 150 megawatts-peak of renewable generation capacity annually. Both parties will work on establishing a scalable platform that can supply long-term sustainable power to businesses in the Asia-Pacific through corporate power purchase agreements, they said in a joint press statement.

The move is part of a partnership to deliver options for the development and financing of renewable energy generation and storage assets throughout the region.

For starters, LOGOS and Engie will focus on rooftop solar photovoltaics in Singapore, Australia and New Zealand. Both parties will seek to scale this solution by delivering renewable solutions to LOGOS's existing portfolio of assets and customers, and also roll out these solutions to its development projects across the region.

The first project under the partnership is with logistics player DHL, which has committed to a circa five-megawatt solar installation at its Singapore facility in the LOGOS estate.

LOGOS managing director and co-chief executive Trent Iliffe said the partnership will provide LOGOS's capital partners and customers with access to a sustainable, renewable energy solution that can be incorporated on both existing and new assets.

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Engie South-east Asia chief executive Thomas Baudlot noted: "By providing fully integrated and financed solutions that reduce energy needs and provide access to green energy, Engie has the value proposition to help its customers to reduce their carbon footprint while increasing their competitiveness."

Property group LOGOS is a co-investor and manager of over four million square metres of rooftop space within its existing logistics portfolio. It wholly owns the manager of ARA Logos Logistics Trust, which is listed in Singapore.

ARA Asset Management is the majority shareholder of LOGOS, which operates as ARA's global logistics real estate platform.