December 21, 2021
Temasek and Schneider Electric announced the launch of GREENext, a joint venture that will provide sustainable and resilient energy solutions to commercial and industrial customers through solar and battery hybrid microgrid technology.
GREENext will utilise pre-engineered standardised microgrid technology, which increases deployment speed, that will distribute solar power and come with integrated, digitally optimised batteries to store power, providing an additional layer of reliability. As an Energy-as-a-Service, GREENext will remove the need for large upfront capital or expensive infrastructure upgrades throughout the lifetime of the contract. Powered by renewable energy, it will allow customers to reduce their carbon emissions, benefit from lower electricity costs and enjoy a more resilient energy supply.
This pilot phase will immediately focus on India, with potential for further expansion to Southeast Asia.
Luc Remont, Executive Vice President, International Operations, Schneider Electric said, “Schneider Electric and Temasek share a vision of scaling technologies and businesses that can help the world transition to renewable energy. We are excited about how this venture can accelerate the renewable energy transition by removing the upfront capital barrier.”
Nagi Hamiyeh, Joint Head of Investment Group and Head of Portfolio Development, Temasek said, “Enabling businesses to accelerate their decarbonisation efforts will be key to tackling the climate crisis we all face. Temasek has been actively investing in climate-aligned opportunities, catalysing breakthrough technologies and nature-based solutions that aim to usher in a low carbon future. We are pleased to be partnering Schneider Electric to explore how we can scale microgrid solutions to reduce the operational carbon emissions of companies in India, with the possibility of introducing such technology to other regional countries.”