Siemens Becomes Major Becis Shareholder as Part of Energy Partnership
July 22 2020 - 3:15AM
Dow Jones News
By Kim Richters
Siemens AG said Wednesday that it will be a major shareholder in
Berkeley Energy Commercial Industrial Solutions, or Becis, as part
of framework and investment agreements.
The companies will provide access to distributed energy
solutions with an energy-as-a-service model, or EaaS, to customers
in the Asia Pacific market, the German engineering company
said.
"EaaS is a business model that allows customers to partner with
a solutions provider such as Becis and pay for an energy service
over time, without the need for any upfront capital investment,"
Siemens said.
Becis is headquartered in Singapore and part of energy investor
Berkeley Energy.
Siemens didn't disclose financial terms of the deal.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
July 22, 2020 03:00 ET (07:00 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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