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Lys Energy Group And Leader Energy Join Forces To Bolster Southeast Asia’s Clean Energy Transition

LYS Energy Group (LYS Energy), the leading Singapore home-grown Solar Independent Power Producer (IPP), is pleased to announce the signature of an agreement with Leader Energy, a Singaporean IPP wholly owned by HNG Capital Sdn. Bhd. of Malaysia, allowing for the acquisition of 100% of the shares of LYS Energy. KPMG in Singapore acted as the financial advisor to LYS Energy, a pan ASEAN renewable energy corporate power purchase agreement (PPA) platform, making possible one of the most important renewable energy acquisitions in Singapore.

This agreement represents a significant step for LYS Energy to continue its expansion across the region, as the Group grows its solar power business in a disciplined, consistent, and purposeful way.

As the adverse effects of climate change continue its race, so do unpredictability for commercial and industrial sectors.

 

Mr. Lionel Steinitz, Founder and Chief Executive Officer of LYS Energy Group said:

“The global sanitary condition that has hit humanity over the past 18 months mirrors the stark reality of the impact of our industrial activity on our planet: a sense of fragility. It does not come as a surprise that we witnessed an increasingly larger concern from corporates with regarding sustainability and carbon neutrality”.

With its focus on distributed renewable energy generation development, LYS Energy is aligned with Leader Energy’s vision to power the region in a sustainable, innovative, and socially responsible manner.

Strong of a track record of over 75MWp of high-performance and safe solar photovoltaic (PV) systems with a portfolio of very large clients across industry verticals, LYS Energy is one of the fastest-growing regional solar power producers and end-to-end solutions providers, with a five-star portfolio of commercial and industrial projects and customers across diversified and multiple industries. Mostly defined by great expertise in innovation, LYS Energy's unique savoir-faire has proven and established its global reputation in the clean energy industry.

This milestone acknowledges the company’s dynamic and robust business solutions, combined with solid technical expertise, ability to innovate and deploy high-quality solar PV systems. With this partnership, LYS Energy is now well-positioned to sustain and expand its activities in the region and pursue decarbonization efforts in one of the world’s most dynamic economies."

 

Mr. Lionel Steinitz added:

“We are delighted to join a committed and forward-thinking like-minded Group such as Leader Energy to play our respective parts in the regional energy transition and to increase our involvement in the clean energy sector.

LYS Energy, the Group that I founded in 2012, has been a pioneer in the field of distributed solar solutions in Southeast Asia, working with all stakeholders of our industry, adopters, suppliers, regulators, and bankers, to prop up this business of the ground. The agreement with Leader Energy marks the beginning of a new era for our Group and is a major step forward for enabling further decarbonization of businesses in Southeast Asia.

We are pleased to see our high level of expertise, quality standards, and operational excellence recognized through the conclusion of this agreement and shall continue in the next stage of growth of our group.

The combination of the Group’s responsible business approach, commitment to mitigate climate change, set of ethical values, and above all unrivaled ability to innovate and deliver top-quality projects are key factors that bring trust and comfort to our customers. Our holistic approach to a carbon economy and energy transition, through the integration of in-house product and service offers, has granted us the praise of our clients, appreciative of the innovative solutions that we tailored for them.

We are confident of such partnership will have a positive impact in the renewable energy industry and see this as the beginning of a very exciting journey towards what will become a low-carbon region by 2030.”

 

Mr. Gan Boon Hean, Group CEO of Leader Energy, said:

“Today’s acquisition represents another important milestone for Leader Energy as we continue to push towards renewable energy portfolio in Southeast Asia with our green investment policy. 

We are delighted to have LYS Energy shares the same values around the commitment to combat climate change, sustainable business approach, and unparalleled clean energy solutions for businesses.

As we lock our focus on clean energy including solar, wind, and small hydropower generation, the addition of LYS Energy will further expand our footprint in the rooftop solar into the region.

Sustainability is at the heart of our core values and practices, and the Group has pledged since the year 2020 to only develop renewable energy projects be it for greenfield or brownfield assets. We are transiting to a net-zero energy system, in step with the goal of the Paris Agreement under the United Nations Framework Convention on Climate Change to achieve net-zero emissions by 2050.

We are glad that this partnership has brought us one step closer to our goal. With our strong financial backing and more than 26 years of experience in the power sector, Leader Energy will continue to expand and grow steadily and rapidly in a clean, dynamic, and resilient energy economy dominated by renewables.”

 

Mr. Sharad Somani, Partner, Head of Infrastructure, KPMG Asia Pacific, said:

“Over the last 10 years, LYS Energy has developed a strong portfolio of rooftop solar projects in Southeast Asia for commercial and industrial clients requiring green power at cost-effective tariffs. This successful sale to Leader Energy is a testimony of the strong attractiveness of this area for growth as well as the potential to take this platform to the next level.

As countries and companies chart their net-zero roadmaps and accelerate their energy transition journey, we expect more of such green investment opportunities and transactions to be available for both strategic and institutional investors. KPMG in Singapore is delighted to have acted as the financial advisor to LYS Energy. We congratulate the management and board of LYS Energy as well as the incoming investors - Leader Energy - for their commitment to the climate change agenda.”

 

Mrs. Sandra Seah, Joint Managing Partner, Bird & Bird ATMD, said:

“It has been an astounding journey for Lionel Steinitz and the dedicated team at LYS Group, building a solid solar portfolio from scratch with ambition, foresight, and sheer determination.

LYS Energy Group has now attained yet another significant milestone, backed by fresh impetus and strong support from Leader Energy. We are sincerely honored to be part of this story and wish the parties continued success in this industry.”

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