Virya Energy will deploy BayWa re’s local team in Japan to strengthen its position in the country’s lucrative power purchase agreement (PPA) market. The Belgian company will also rely on its Asian subsidiary Constant Energy, headquartered in Thailand.
Belgium-based Virya Energy has acquired BayWa re’s Japanese solar business to expand into the Japanese renewable energy market.
Under the terms of the deal, BayWa re’s Japanese team will transition to the Virya Energy brand, providing their local market knowledge to the Belgian company, which will also acquire BayWa re’s existing portfolio of more than 60 MW DC+ of assets under development and operation.
Virya Energy already has interests in Asia, and this deal marks its formal entry into the Japanese market. The company’s Asian subsidiary, Constant Energy, has already signed several long-term power purchase agreements (PPAs) with leading Japanese companies.
Franck Constant, founder of Constant Energy and CEO of Virya Energy in Asia, said the new deal will build on its existing regional network and “proven expertise in serving industrial customers”. Constant Energy’s portfolio of solar, wind and battery energy storage projects in Thailand, Malaysia and Vietnam exceeds 250 MW. In November, it signed an agreement with global solar panel manufacturer Tongwei to supply high-efficiency solar panels across Asia. One of the projects under this partnership is a 52 MW solar farm in Malaysia, awarded to Constant Energy under the Malaysian government’s fifth Large Scale Solar programme.
“We are pleased to welcome the team that has joined Virya Energy from BayWa re,” said Virya’s CEO, Paul Tummers. “The acquisition represents a transformational moment for our growth strategy in Japan. In addition to expanding our footprint, we are integrating a highly skilled and dedicated team that will bring immediate, critical capacity to one of Asia’s largest renewable energy markets. We look forward to realizing the full potential of this combined platform.”
Virya Energy, headquartered in Wallonia, was founded in 2019 through a strategic partnership between the Belgian retail organization Colruyt Group and its majority shareholder Korys, the investment arm of the Colruyt Group.
The company’s team has been involved in developments in the field of sustainable energy, including onshore wind energy and hydrogen, for decades. The solar division recently received a boost with the acquisition of French solar company Sunopée in 2024. Virya acquired 100% of the French company to strengthen its position in the French commercial and industrial roofs market.
Virya Energy has several rooftop and canopy solar projects in France and Thailand, with some small rooftop projects due to be commissioned in 2026.
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