Asia-focused infrastructure investor Seraya Partners has partnered Schneider Electric to launch Faraday Energy, a new energy infrastructure platform.
Seraya will invest up to US$500 ($647) million of equity capital to support Faraday’s growth across Asia Pacific and Gulf Cooperation Council countries as well as other selected international markets while Schneider will be the principal technology partner for Faraday, allowing Faraday to leverage Schneider’s global R&D capabilities, local implementation footprint and longstanding customer relationships.
Faraday will develop, finance, own and operate distributed and customer-sited energy infrastructure projects. These projects will provide energy and decarbonisation solutions on an OpEx-based model to commercial and industrial facilities, power and grid infrastructure operators and data centres, according to a press release.
Faraday’s energy solutions and management will be “vendor-agnostic, scalable and future-ready” to support customers’ transition toward lower-carbon operations, adds the statement.
““Enterprises increasingly require energy solutions that are both technologically advanced and financially sustainable,” says James Chern, managing partner of Seraya Partners. “Faraday enables customers to adopt advanced energy infrastructure on an infrastructure-as-a-service basis.”
Chen adds that the combination of Schneider’s global technology leadership with Seraya’s long-term capital will result in a scalable platform positioned for long-term growth.
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“Customers are seeking trusted partners who can deliver both technical capability and long-term delivery certainty,” says Schneider Electric cluster president for Singapore and Brunei Yoon Young Kim. “Through Faraday, we can extend our cutting-edge energy technology solutions to customers who need both innovation and capital support.”
As part of the platform launch, Peter Goh has been appointed CEO of Faraday, responsible for building and scaling the platform across its target markets. He was most recently CEO of NaviX Solutions, a fully-owned subsidiary of Schneider, and brings over 16 years of experience in the energy sector.
