Leader Energy Completes Acquisition of LYS Energy to Bolster Southeast Asia’s Clean Energy Transition
Penang, Malaysia, September 28, 2021 – Leader Energy, a Singaporean Independent Power Producer (IPP) wholly owned by HNG Capital Sdn Bhd of Malaysia, today announced that it has acquired 100% shares of LYS Energy, the leading Singapore home-grown Solar IPP, to boost its renewable energy business in Southeast Asia.
Founded in 2012, LYS Energy provides Asia’s trusted Renewable Energy platform with a track record of over 75MWp of high-performance and safe solar photovoltaic (PV) systems with a portfolio of very large clients across the industry verticals. It 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 unique savoir-faire has proven and established its global reputation in the clean energy industry.
Leader Energy is extremely excited to have LYS Energy joining the Group. 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 who 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. Lionel Steinitz, Founder and Chief Executive Officer of LYS Energy Group said:
“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 unrivalled ability to innovate and deliver top quality projects are key factors that bring trust and comfort to our customers. Our holistic approach to 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.”
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.
Mr. Lionel Steinitz added:
“The global sanitary condition that has hit humanity over the past 18 months mirrors the stark reality of the impact of our industrial activity to 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.”
KPMG acting as the advisor to LYS Energy for the acquisition in the renewable energy sector in Singapore.
This milestone acknowledges LYS Energy’s dynamic and robust business solutions, combined with solid technical expertise, ability to innovate and deploy high-quality solar PV systems. With this definitive merger agreement, Leader Energy and LYS Energy are now well-positioned to sustain and expand their activities in the region and pursue decarbonization efforts in one of the world’s most dynamic economies.
About Leader Energy Pte Ltd
Leader Energy was incepted for over 26 years as one of the pioneers in Asia’s power sector. It is a wholly owned company under HNG Capital Sdn Bhd, a family-owned investment holdings company in Malaysia.
Under the strong leadership, highly experienced Board, senior management team with sharp business acumen as well as professional well-trained O&M team, Leader Energy continues to develop, evolve, expand, owns and operates diverse business interests in the power sector.
Leader Energy has a substantial impressive investment portfolio in solar, hydro, wind, high-voltage transmission systems and thermal power plants across Southeast Asia and Taiwan. The company currently has more than 700MW of operating power plants in the region and is charting the growth to acquire beyond 1000MW with renewables by 2022. Leader Energy is also aspiring to be the leading green energy player in the region for a sustainable environment and future.
About LYS Energy Group
LYS Energy Group (LYS) is the leading Singapore home-grown Solar Independent Power Producer (IPP) that builds, owns and operates Solar PV Systems for Commercial, Industrial and Public sites in the Asia Pacific region.
The company provides Asia’s trusted Renewable Energy platform offering hassle-free 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.
Without expending any resources, our customers can benefit from installing solar PV systems on their unused rooftops and site spaces, lower and predictable utility costs and strengthen their sustainability branding. Through a set of newly developed innovative solutions, future adopters have ﬂexibility in the way they want to consume green and clean electricity.
Since its incorporation, LYS has deployed over 50MWp of high-performance solar PV systems, with a pipeline of over 500MWp in Singapore and across the region in Vietnam, Indonesia, Malaysia, Thailand and Philippines.
LYS Energy aims at being a vector of the Energy Transition towards a more distributed, autonomous and smart model. Incorporating distributed generating facilities, energy storage systems and smart grid, the company re-invents the energy industry towards a customer-centric prosumer era.