Industrial specialist Logos has taken another step toward becoming a regional renewable energy provider through a deal with Tokyo Electric Power to establish an Asia Pacific solar generation platform.
In a joint announcement on Friday with its Japanese partner Sydney-based Logos said the two companies will install 100MW on the rooftops of warehouses, data centres and other properties owned by Logos and its capital partners in the region through Logos-TEPCO Renewables Joint Venture Pte Ltd, which the two companies established last month.
“Sustainability is a foundation of our business and today’s announcement is an exciting step forward on our journey to establishing a large, regional renewable business,” Logos co-CEO Trent Iliffe said in a statement. With Logos, together with its parent company, ESR Group having set a 2030 Net Zero Carbon and decarbonization target, Iliffe added that the partnership with TEPCO is part of that transition to a sustainable business.
Originally a specialist in logistics warehouses, Logos branched out into infrastructure with the establishment of its data centre division in 2021, and has been developing strategies to generate power on the rooftops of industrial buildings for several years.
Linking Properties to Technology
In the new joint venture, which the partners have abbreviated to LTJV, Logos will contribute its expertise as a real estate business operator, as well as the properties it manages across APAC, while TEPCO HD will leverage the technological abilities it has accumulated through its electricity business to improve renewable energy utilisation in the region.
The joint venture is described as power purchase agreement with LTJV also planning to invest in projects for TEPCO customers in the future.
In the next stage of their cooperation, both companies aim to explore additional renewable energy solutions, including energy storage, wind power, green hydrogen to offer carbon net-zero properties to their customers, and contribute to achieving a carbon neutral world, the partners said.
TEPCO has been working to expand its renewables business in Asia, including investing in a 3.8 MW solar project in Ayutthaya, north of Bangkok last year.
“Following the rooftop solar PPA project in Thailand, we will work for realization of a clean, sustainable, and carbon-neutral society by providing not only electricity but also customer-oriented equipment services in this project,” said Chikara Kojima, an executive vice president with TEPCO.
Sydney-based Logos currently owns or is developing 11.3 million square metres (122 million square feet) of property and has worked with solar providers and energy specialists regionally to harness the sun hitting its rooftops.
“Sustainability is a foundation of our business and today’s announcement is an exciting step forward on our journey to establishing a large, regional renewable business,” Iliffe said. “It also builds on Logos and ESR Group’s ESG commitments which includes a 2030 Net Zero Carbon and decarbonization target.”
In 2021 Logos inked a partnership with French utility Engie to generate solar and other renewable energy from the developer’s portfolio, with that deal initially focused on facilities in Singapore, Australia and New Zealand.
That deal kicked off with a 5MW facility at a Logos project in Singapore and aimed to establish 50 to 150MW of generation capacity.
In 2022 Logos teamed up with Aussie renewables fund Solar Bay to install rooftop solar on its Moorebank Logistics Park near Sydney, with that project expected to yield enough energy to power 40,000 homes.