Name

HEXA Renewables

Legal name

HEXA Renewables

Website

https://hexarenewables.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Renewable Energy Generation (Independent Power Production)

NAICS

Electric Power Generation, Transmission and Distribution (2211), Electric Power Generation (22111), Solar Electric Power Generation (221114), Wind Electric Power Generation (221115), Other Electric Power Generation (221118)

SIC

Electric Services (4911)

akta.pro primary industry

Commercial Structuring & Offtake (PPAs, CfDs, Corporate PPAs, Merchant Strategy) (EUAMAAAE)

akta.pro secondary industries

PPA Origination, Structuring & Offtake Contracting (Physical/Financial, Sleeves) (EUAMAMAD), Utility-Scale Generator PPAs (Project Offtake) (EUAGADAB), Project Finance & Capital Structuring (Debt/Tax Equity/Project Bonds) (EUAMAAAD), Renewable Distributed Generation (Rooftop/Onsite Solar, Small Wind, Small Hydro) (EUACALAJ)

Keywords

• Renewable energy development
• Independent power producer
• Floating solar projects
• Battery energy storage
• Power purchase agreements

Headquarters

HQ city

Taipei

HQ country

Taiwan

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Personnel, Operations, Technology or R&D

Revenue model

1. Power Purchase Agreement (PPA) Revenue: HEXA develops, builds, and operates renewable energy projects (solar, wind, BESS) and sells electricity and environmental attributes to corporate and utility off-takers through long-term PPAs. Revenue is generated from electricity sales and renewable energy certificate (REC) monetization.
2. Asset Management Services: HEXA provides asset management services to optimize project performance and operations, including automated solutions and remote monitoring for owned and third-party renewable energy assets.
3. Project Development and EPC Services: HEXA offers development services encompassing site feasibility studies, environmental impact assessments, grid connection, financing, and conceptual engineering design. EPC oversight services cover construction management from initial design through final commissioning.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

HEXA Renewables is an Independent Power Producer that develops, builds, finances, owns, and operates utility-scale renewable energy projects including floating solar, ground-mounted solar, rooftop solar, onshore wind, and battery energy storage systems across Asia. It monetizes these assets via long-term Power Purchase Agreements (PPAs) selling electricity and environmental attributes (RECs) to corporate and utility off-takers, and offers Development, Asset Management, and EPC services across the project lifecycle.

Product overview

HEXA Renewables is an Asia-based Independent Power Producer (IPP) and renewable energy platform established by I Squared Capital in 2020. The company develops, builds, and operates renewable energy projects across Taiwan, Japan, South Korea, Malaysia, Philippines, India, and Singapore. HEXA offers a portfolio of solutions including Development Services, Asset Management, Construction & Operations, and Power Purchase Agreements. The company specializes in five core technologies: Floating Solar, Ground-mounted Solar, Rooftop Solar, Onshore Wind Energy, and Battery Energy Storage Systems (BESS). The portfolio includes operational projects like the Changhua Floating Solar Project (192 MW) in Taiwan, Japan Ground-Mounted Solar Portfolio (15 MW across 18 assets), Philippines Gamu and Bongabon Solar Projects (99.5 MWdc), and Korea Naju Solar Project (5 MW). The company targets up to 5GW of renewable energy and battery storage projects with $5 billion aggregate investment across the Asia Pacific region.

Differentiator

Problem solved

Functional benefit

Products and services

• Development Services End-to-end renewable energy project development services including site feasibility studies, environmental impact assessments, grid connection, financing, conceptual engineering design, and construction planning for utility-scale solar, wind, and BESS projects across Asia, delivered to corporate off-takers, utilities, developers, and landowners.
• Asset Management Operations and maintenance services that use automated solutions and remote monitoring to maximise performance and reliability of owned and third-party renewable energy assets across Asia, delivered to owners of solar, wind, and BESS portfolios.
• Construction and Operations Engineering, procurement, construction, and commissioning services for utility-scale renewable energy projects, providing safe, efficient, and cost-effective construction execution through EPC collaborations, delivered to project developers and asset owners.
• Power Purchase Agreements (PPAs) Customised long-term Power Purchase Agreements under which HEXA sells electricity and environmental attributes (RECs) from its utility-scale solar, wind, and BESS plants to corporate and utility off-takers — including Virtual PPAs — to accelerate buyers' net-zero initiatives and reduce their carbon footprints.

Quantifiable outcome

• 138,000 tons CO2 reduced annually from Taiwan floating solar project (192 MW)
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Nine partnerships are on record, tiered major, core and minor.

• Marubeni CorporationmajorStrategic or Co-development Partner · 17 January 2025Strategic partnership agreement with Marubeni Corporation, one of Japan's top five trading houses, to co-develop up to 100 MW of solar PV projects in Japan by end of 2028. The collaboration leverages Marubeni's extensive industry network and technical expertise in the Japanese market. Marubeni will sell developed projects to HEXA upon completion.
• Bison EnergymajorStrategic or Co-development PartnerStrategic equity investment option agreement focused on solar energy and BESS projects in the Japanese market. HEXA will work with Bison to further develop and construct its pipeline of solar and BESS projects in Japan, strengthening both companies' positions in the new energy sector.
• UEM Group BerhadmajorStrategic or Co-development PartnerJoint venture partnership for Malaysia's 1 GW solar power plant project under the National Energy Transition Roadmap. Formed Lestra HEXA JV Sdn Bhd with 51% ownership by UEM Lestra and 49% by HEXA Renewables to develop the first 500 MW hybrid solar power plant in Segamat, Johor.
• ITRAMAS CorporationmajorImplementation/ SI/ Consulting PartnerTechnical partner agreement for Engineering, Procurement, Construction, and Commissioning (EPCC) services for the Malaysia 1 GW solar project. ITRAMAS is Malaysia's largest vertically integrated solar plant developer, providing EPCC services through the Lestra HEXA JV.
• Recharge Power Co., Ltd. (J&V Energy Technology)coreImplementation/ SI/ Consulting PartnerAwarded EPC contract for Taiwan's largest 48MW/185.7MWh solar-plus-storage project in Taiwan, scheduled to start construction in H1 2026. The project aims to provide grid stability services including peak shaving and load shifting.
• DaicelcoreGTM or Marketing PartnerVirtual Power Purchase Agreement (VPPA) with chemicals company Daicel to develop solar power plants dedicated to supplying environmental attributes. HEXA Energy Service Japan will manage the assets with solar installations beginning operations in phases from mid-2026.
• AmazoncoreGTM or Marketing PartnerPower Purchase Agreement for a 10 MW solar farm in Hokkaido, Japan. This project is part of Amazon's commitment to match electricity consumption with carbon-free energy and represents one of four new utility-scale solar farms that doubled Amazon's renewable energy capacity in Japan.
• BDx Data CentersminorGTM or Marketing PartnerPartnership with BDx Data Centers for 50 MW of new solar projects in Malaysia to power AI data center operations. This addresses BDx's need for renewable energy in power-constrained markets while supporting HEXA's renewable energy expansion.
• Ciel & Terre TaiwanmajorTechnology or IntegrationPartnership with Ciel & Terre Taiwan for floating solar technology and project development. Ciel & Terre provided expertise for the anchor pile-type anchorage system design for the 192 MW Changhua floating solar project, working with marine engineering companies, structural engineers, and hydraulic experts.

Scale indicators10 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Pacifico Energy: Japan-headquartered renewable energy IPP that develops, owns, and operates solar and storage assets with corporate PPAs across Japan—the same market where HEXA holds its largest share of awarded BESS capacity. Comparability: same asset classes (solar, BESS), same geography (Japan), same offtake model (corporate PPAs).
• Constant Energy: Renewable energy developer and operator focused on ASEAN (Thailand, Vietnam, Cambodia) utility-scale solar with C&I and utility PPAs. Comparability: same business model (developer/owner-operator), same region (Southeast Asia), same asset class (solar).
• Cleantech Solar: Singapore-based C&I solar and storage developer across Southeast Asia serving corporate customers with PPAs. Comparability: same regional focus (SE Asia), same corporate PPA model, same solar + storage offerings, and similar customer base (multinational corporations seeking renewable offtake).
• Nexif Energy: Asia-focused renewable energy developer and operator with utility-scale solar, wind, and BESS projects across Southeast Asia. Comparability: same geographies (Thailand, Vietnam, Philippines, Indonesia, Malaysia), same technologies (solar, wind, BESS), and same EPC + IPP model. HEXA's CTO Murali Batreddy previously led development at Nexif.

Regional players

• Adani Green Energy: India-headquartered renewable energy developer/operator with one of the largest solar and wind pipelines globally and a dedicated BESS strategy. Comparability: same business model (developer + IPP), same technologies, primarily competing in India where HEXA also operates under Sanjeev Aggarwal (former Amplus Solar founder).

Broad incumbents

• RWE Renewables: Global renewables developer with expanding APAC operations in offshore wind, solar, and BESS. Comparability: same broad-based IPP model, same technologies, with growing ambition in Asia Pacific corporate offtake and auctions where HEXA also competes.
• EDP Renewables (EDP): Global renewables developer with a sizeable APAC presence via EDP Renewables Asia (solar and storage across multiple Asian markets). Comparability: same IPP business model, same solar/BESS technologies, same global-to-Asia go-to-market motion that HEXA competes against for auctions and offshore wind adjacencies.
• Engie Renewables: Global energy major with a deep Asia-Pacific renewables footprint in solar, wind, and storage, and a major auction participant in India and Southeast Asia. Comparability: same asset classes, same multi-country Asia platform, same corporate PPA origination. HEXA's CTO previously led ENGIE solar development in India and MENA.
• Sembcorp Industries: Singapore-listed energy and urban solutions group with significant renewables (solar, wind, storage) operations across Asia including a sizable renewables arm. Comparability: same pan-Asia footprint, same technology overlap (solar, BESS), much broader portfolio that competes head-to-head with HEXA for government auctions and corporate PPAs in Singapore and Malaysia.

Emerging players

• Ciel & Terre International: France-based pioneer and global leader in floating solar engineering and deployment. Comparability: same floating solar category; Ciel & Terre is HEXA's named technology partner for the Changhua project and the broader floating solar domain specialization that HEXA leverages as its core niche differentiator.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/hexarenewables

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HEXA Renewables