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.
Grafico Azioni Siemens (TG:SIE)
Storico
Da Mar 2024 a Apr 2024 Clicca qui per i Grafici di Siemens
Grafico Azioni Siemens (TG:SIE)
Storico
Da Apr 2023 a Apr 2024 Clicca qui per i Grafici di Siemens