LYS Energy Group (LYS), a Singaporean solar independent power producer (IPP), has received a USD 14 million loan from United Overseas Bank (UOB). The credit is issued under the UOB’s Green Infrastructure Framework as part of the Bank’s U-Solar program, the first solar industry ecosystem in Asia to power the development and adoption of renewable energy across South East Asia. The loan will be used to finance LYS’ solar energy assets in Singapore and to support its expansion across the region.
Founded in 2012, LYS to date has deployed more than 50 MWp of high-performance solar photovoltaic (PV) systems, with a pipeline of more than 500 MWp in Singapore as well as in Vietnam, Indonesia, Malaysia, Thailand, and the Philippines. It has a portfolio of projects and customers across diversified industries, including aerospace, electronics, food and beverage, logistics, manufacturing, pharmaceutical, and real estate. It provides end-to-end clean energy solutions for businesses: from zero-Capex solar energy (PPA), Renewable Energy Certificates (RECs), turnkey Engineering Procurement Construction (EPC) and Operations & Maintenance (O&M) services, to carbon emissions and energy management consulting. Its projects incorporate distributed generating facilities, energy storage systems, and smart grids.
(Sources: LYS Energy Group; Eco-Business)