Schneider Electric and Temasek Launch GREENext to Provide Sustainable and Resilient Energy-as-a-Service

Rueil-Malmaison, France

08/12/2021

• GREENext's commercial and industrial customers in India can now access lower electricity costs, more resilient and cleaner energy supply, without complex energy setups or investments

Schneider Electric, the leader in the digital transformation of energy management and automation, recognized as the World's most sustainable corporation in 2021 by Corporate Knights, and Temasek today 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 focus initially 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."