Schneider Electric and Asia-focused infrastructure manager Seraya Partners have jointly launched a new energy infrastructure platform, Faraday Energy, which will invest across Asia Pacific and Gulf Cooperation Council countries, as well as other selected international markets.
Seraya will commit up to $500 million of equity capital into the platform, according to a joint statement.
Faraday will develop, finance, own and operate distributed and customer-sited energy infrastructure projects, which will provide energy and decarbonisation solutions on an OpEx-based model to commercial and industrial facilities, power and grid infrastructure operators and data centres.
Schneider will be the principal technology partner, and will work together with Faraday to originate, structure and execute projects that integrate proven technical solutions with infrastructure-grade financing and long-term asset ownership.
Rising electricity demand from digital infrastructure, industrial electrification and corporate decarbonisation commitments is driving the need for reliable and low-carbon energy solutions, while many enterprises seek to optimise total cost of ownership yet preserve balance sheet flexibility, the statement said.
Under long-term contracted arrangements, Faraday will deliver vendor-agnostic, scalable and future-ready energy solutions and management to support customers’ transition toward lower-carbon operations.
“Enterprises increasingly require energy solutions that are both technologically advanced and financially sustainable. Faraday enables customers to adopt advanced energy infrastructure on an infrastructure-as-a-service basis,” said James Chern, Managing Partner and Chief Investment Officer of Seraya Partners.
Peter Goh, who was most recently CEO and board member of NaviX Solutions – a Schneider subsidiary, has been appointed as CEO of Faraday.
Schneider has also recently appointed Singapore-based Swiss-Asia Financial Services to support the fundraising of its next blended finance fund – Schneider Electric Energy Access Asia Fund II.
The fund targets a size of $60-80 million, according to Convergence, which provides its Asia Climate Solutions Design Grant to the vehicle.
Similar to its predecessor, the fund seeks to address the early-stage financing gap for clean energy ventures across South and Southeast Asia, including India, Indonesia, Vietnam and the Philippines.
Fund I has deployed catalytic capital across 13 companies in these regions.
