Canopy Power Expands Business, & Launches Innovation
Establishes Partnerships and Launches Innovations
2020 Update: Canopy Power Expands Business,
Establishes Partnerships and Launches Innovations
Canopy Power has stepped up on business developments in 2020, including extending its regional operations and involvements in global collaborations centred on environmental sustainability and renewable energy.
Projects
Despite the economic slowdown in 2020, projects have made steady progress towards completion. A renewable energy microgrid for off-grid sustainable island resort Batu Batu was completed in Q3 2020. Located on an island 16 kilometres off the town of Mersing, on the East Coast of Peninsular Malaysia, the 22-villa resort is now able to reduce carbon emissions and diesel dependency with the microgrid producing around 216 MWh of renewable electricity annually.
As Engineering, Procurement and Construction (EPC) partner, Canopy Power is developing with Total Solar Distributed Generation a solar and battery energy storage microgrid on the remote island of Koh Rong Sanloem in Sihanoukville, Cambodia. The microgrid is designed to deliver electricity to the island – home to over 60 hotels, resorts and guest houses currently relying on diesel for electricity – with a renewable energy contribution of over 50 per cent. Allowing to reduce island-wide diesel consumption by over 600,000 litres per year, the project will be one of Southeast Asia’s largest off-grid renewable energy microgrids. After minor delays earlier in the year, work has started and completion is expected to be in Q2 2021.
Expanding beyond projects in the hospitality sector, Canopy Power has developed a pipeline of more diverse projects in other industries this year. This includes Food and Beverage (F&B) customers in Cambodia and Indonesia, schools in Cambodia, a mine in Indonesia and various commercial properties in the Philippines. Strategic geographic expansion – with staff now in Jakarta, Indonesia and Manilla, Philippines, as well as a legal entity formed in Cambodia – will support the company’s growth in operations and continued business development in the upcoming year.
Under the Canopy Care programme, Canopy Power also completed in Q3 2020 a self-initiated social welfare project at the remote village of Tanjung Sesup on Sugi Island, Indonesia. Having funded and developed a water distribution system for the village, Canopy Power improved the lives of the villagers by enabling a convenient access to and a constant supply of clean water. Looking forward, the company is keen to embark on more of such projects that benefits communities, and welcomes partnership opportunities.
Technology & Partnerships
As a technology provider, Canopy Power has also further built on its innovated asset management platform Hornbill. Now, Hornbill has the added capability to record Renewable Energy Certificates (RECs) directly onto a blockchain. This is on top of being the key enabler for Canopy Power’s comprehensive Operations & Maintenance (O&M) product offering launched in early 2020. Currently, among numerous implementations, Hornbill is being used to monitor several sites owned by renewable energy installer Energetix – another collaboration this year. There are plans to further enhance Hornbill for grid-connected projects to leverage the technology on a wider level.
Other partnerships established in the first half of 2020 include a cooperation agreement with Electricité de France (EDF) to develop, and on a case-by-case basis, own and operate regional microgrid projects based on a jointly devised market offering.
An increased awareness of Canopy Power’s presence and positive impact has also seen the company undertaking more opportunities for industry involvement. Becoming an affiliate member of The Long Run (in July 2020) will allow Canopy Power to contribute to the efforts of its nature-based tourism members committed to driving sustainability, apart from enlarging its network. Canopy Power was also invited to be part of Unreasonable Impact Asia Pacific 2020, a programme by Unreasonable Group and Barclays to support impactful growth-stage ventures and address key environmental issues. In Q3 2020, Canopy Power was named an APAC 25 Company by Cleantech Group – an acknowledgement of companies in the region engaged in sustainable innovation with high potential for significant impact.
“In general, 2020 has been a challenging year for all of us. However, we are experiencing surge in awareness within individuals and corporations towards sustainability. This is a good sign for the next year and the years to come. Canopy Power is well set to help our customers and partners to make an impact in coming months. In 2021, our focus will be on expanding our geographical reach and providing novel technical and financial solutions to increase the uptake of renewable energy microgrids in Southeast Asia,” said Sujay Malve, founder and CEO of Canopy Power.
