~$300M
Near-term investable vintage
Clean energy infrastructure · Southeast Asia
NewCo&AssetCo builds the platform that owns and operates distributed clean energy assets.
NewCo&AssetCo is the platform group. AssetCo is the corporate platform entity that finances, builds, owns, and operates distributed clean energy assets for private owners. For factories, malls, hospitals, logistics campuses, and commercial portfolios across Thailand, we install and run efficient cooling, rooftop solar, battery storage, and EV infrastructure. For investors, Fund I targets durable, infrastructure-grade cashflow.
Base
Singapore headquarters, Bangkok operations
Operating today
Efficiency and thermal vertical active through a private operating partnership
Stage
Fund I in structuring, on an origination-grade pipeline
Team
Infrastructure and project-finance operators, Southeast Asia focused
00
Verified, modeled, and under NDA
This page separates what is public, what is modeled, and what is held for qualified counterparties under NDA. We are not naming team members, customers, or project counterparties publicly until those facts are cleared for publication.
Verified
Public claims
Jurisdiction, operating geography, platform structure, governance approach, and current parameter basis are presented as public site claims. Publicly sensitive names remain omitted until cleared.
Modeled
Indicative economics
Pipeline, return, carbon, and sizing figures are origination-grade model outputs. They are not realized performance and are subject to diligence, owner confirmation, financing terms, and definitive documentation.
NDA
Proof materials
Counterparty names, data rooms, parameter sources, model files, and asset-level diligence should sit in the protected diligence room, not on the public homepage.
Methodology basis shown publicly; underlying source pack available under NDA
Claims labeled verified or modeled
No uncleared names
Single parameter book
Version-controlled changes
Qualified access for diligence
The public proof set is intentionally limited. The active private efficiency-and-thermal operating partnership, team materials, asset-level source pack, and model files are shared only with qualified counterparties under NDA after commercial and legal clearance.
15–16%
Target blended equity IRR
4
Asset classes underwritten
Behind-meter
Private-owner delivery
Figures are origination-grade and indicative targets, not an offer of securities and not a guarantee of returns. They depend on owner confirmation, field-verified capacity, and definitive financing. See disclosures.
01
Platform structure
A single corporate platform sits above a set of vertical operating companies. The platform carries the capital structure and presents one balance sheet to investors and lenders; each vertical is a real operating business underwritten to the same parameter discipline.
Corporate platform
AssetCo
The single corporate platform entity. It holds the operating companies, carries the capital structure, and presents one balance sheet to investors and lenders. Every vertical sits beneath it, underwritten to the same parameter discipline.
Vertical · OpCo
Efficiency and Thermal
The first operating vertical. Cooling-as-a-service is the lead product, the largest single lever in cooling-dominated commercial and industrial loads, paired with LED and building-management retrofits under long-term zero-capital service structures.
More detail
Cooling-as-a-service places a high-efficiency chiller plant on the owner's site at our cost; the owner pays a service fee tied to delivered cooling. Paired with LED and building-management retrofits, it targets the largest controllable load in malls, hotels, and factories, with savings sized on the canonical tariff band of 3.85 to 4.20 THB/kWh.
Vertical · OpCo
Solar plus Storage
Distributed TOPCon photovoltaics for behind-the-meter generation, paired with LFP battery storage at current cell economics where the tariff spread justifies it. Storage is sized to the load, not bolted on by default.
More detail
Behind-the-meter TOPCon photovoltaics sized to on-site daytime load at a canonical yield of 1,380 kWh/kWp/yr, with LFP storage added at $175/kWh only where the tariff spread and load shape justify it. Generation offsets grid energy at a 0.475 tCO2/MWh emission factor.
Vertical · OpCo
Mobility · EVaaS
Electric-vehicle infrastructure delivered as a service. Charging and fleet electrification for commercial owners, financed and operated on the same platform discipline as the energy verticals.
More detail
Charging and fleet-electrification infrastructure for commercial owners, financed and operated on the same balance sheet and the same parameter discipline as the energy verticals, so it underwrites the same way rather than as a separate venture.
Where we operate, by region (private owners, not named publicly)
02
Pipeline and discipline
AssetCo originates from a screened private-owner pipeline, not a single deal. Every opportunity is normalized to one parameter book and graded for commitment readiness before it enters the investable vintage. Averaged into a single number, the pipeline would mislead, so we hold it as an honest barbell: a near-term investable core, an anonymized methodology-calibrated reference case, and a develop-stage pipeline behind both.
Core
Mid-to-high teens
The investable vintage. Commercial real estate, industrial, and healthcare assets where cooling, thermal, and daytime electrical loads support contracted behind-the-meter infrastructure. Fast paybacks, levered to a mid-teens equity return.
Anchor
12.4% equity IRR
An anonymized methodology-calibrated reference case, modeled on a full engine waterfall and available to qualified counterparties under NDA. It proves the underwriting discipline without exposing uncleared counterparties publicly.
Develop
PV+BESS and efficiency carve-outs
Private-owner opportunities where the bankable product lines are clear, but owner conversion, survey, or definitive financing still has to land before commitment.
Feasibility
Surveyed capacity
Real private-owner demand awaiting field verification. No financed return is claimed until areas, load, and contract path are verified. This is the pipeline behind the next vintage.
| Asset class | How we deliver it | Indicative equity return | Role |
|---|---|---|---|
| Commercial real estate | Rooftop and carport solar, cooling-as-a-service chiller retrofits, LED and building-management systems for listed mall, office, and hotel owners. | Mid-to-high teens, fast paybacks | Return engine |
| Industrial and C&I | Behind-the-meter solar, PV+BESS, thermal, and efficiency systems for factories, logistics campuses, and industrial operators, with storage added only where the tariff spread pays for it. | Low-to-high teens, product-line dependent | Diversification and scale |
| Healthcare | Solar, cooling, thermal, and lighting product lines for private hospital groups and healthcare portfolios, scoped to the lines that clear bankability rather than multi-product blends. | Selective, product-line led | Pipeline behind the vintage |
| Mobility and EVaaS | Depot charging, fleet electrification, and behind-the-meter energy integration for commercial logistics and campus fleets. | Earlier-stage, wedge-first | Option value |
Indicative economics are computed on one canonical parameter set, not deal-by-deal guesswork
FX 35 THB/USD
Grid EF 0.475 tCO₂/MWh
BESS $175/kWh LFP
PV yield 1,380 kWh/kWp/yr (EEC)
Tariff 3.85 to 4.20 THB/kWh
Carbon $15/t at 75% delivery confidence
Discount 8%
Senior debt ~6%
Figures are origination-grade and indicative. They are subject to owner confirmation, field-verified capacity, definitive financing terms, and diligence. This is how we underwrite, not an offer of securities. A realized track record will be published here as assets reach a financeable decision. Parameters reflect external sources and current local guidance as of June 2026 and are recalibrated on a rolling cycle; the full sourced methodology and parameter book are available to qualified counterparties under NDA. See Disclosures and the FAQ.
03
Governance and parameter discipline
Discipline is structural, not stylistic. One parameter book governs every model and deck, change is version-controlled, and every headline return is checked against its own cashflow before it is trusted. The point of the engine is repeatability: the same inputs produce the same numbers, and a thesis is never mistaken for an underwriteable deal.
Single source of truth
One parameter book
A single canonical parameter set governs every financial model, deck, and methodology document. A figure is the figure for all internal modeling and external work. Changing a value requires joint sign-off and a version bump, never a quiet override.
Change control
Versioned methodology
The underwriting methodology carries a semantic version stamp. Any change that moves an estate return by more than 50 basis points requires explicit re-approval; structural changes trigger full re-validation. Drift is caught at the document level, not in production.
Audit trail
Verified, dual-checked
Every key claim is recorded in a verification register with its source, and every headline IRR is independently re-derived from its own cashflow. Concentration limits cap exposure by offtaker, by industrial zone, and by product line.
Confidence grading
Graded, not averaged
Pipeline assets are graded A through D for commitment readiness, so feasibility capacity is never blended into committed economics. Real but unsurveyed capacity carries no financed return until areas are field-verified.
Regulatory monitoring
Calibrated to local rules
Tariff, grid emission factor, and crediting assumptions are monitored against external sources and recalibrated on a rolling annual cycle. Time-sensitive parameters are refreshed deliberately rather than left to age.
Carbon, costed honestly
Conservative carbon framing
Where assets qualify, carbon value is engineered in from the start, then discounted for delivery risk. Behind-the-meter solar and PV+BESS may be eligible for international transfer where the project structure, authorization, and verification route support it; no grid-export value is banked without a confirmed pathway.
A
Commitment-grade
Verified economics, conformant to the parameter book. Ready for a financeable decision.
B
Near-ready
Strong economics pending one gate: owner sign-off, a survey, or a financing term.
C
Develop
Real opportunity, but only the bankable product-line cuts are investable today.
D
Feasibility
Real but unsurveyed capacity. No financed return is claimed until areas are verified.
Carbon is an underwriting input, not a marketing line
BTM / PV+BESS eligibility checked
Price $15/tCO₂
Delivery confidence ~75%
Grid EF 0.475 tCO₂/MWh
No grid-export value without confirmed pathway
Carbon revenue is sized at a conservative price and haircut for delivery risk before it enters any return. Behind-the-meter solar and PV+BESS eligibility is assessed case by case; internationally transferable value is not booked unless registration, authorization, verification, and transfer pathway are confirmed.
04
Investment thesis
01
Own the asset, not the contract
We finance, build, and hold distributed energy assets on our own balance sheet. The return is long-dated cashflow from creditworthy private owners, not project-by-project contracting that ends when the build does.
02
Private demand, no grid dependency
Behind-the-meter delivery to multinational factories, commercial and industrial operators, and listed mall, hospital, and hypermarket owners. Demand is real, contracted, and independent of public tariff and procurement cycles.
03
Repeatable underwriting
Every opportunity runs through the same engine and the same parameter book, so a new estate, asset class, or country does not start from a blank spreadsheet. Discipline compounds; bespoke modeling does not.
05
Get in touch
NewCo&AssetCo is actively structuring its capital vehicle and building the first operating verticals. For investor, lender, or partnership conversations, reach the platform team directly. We respond to qualified inquiries with a short call and, where appropriate, an origination-grade pipeline overview under NDA.
Step 1
Introductory call
A 30-minute call to understand your mandate, ticket size, and timeline, and to confirm fit.
Step 2
Materials under NDA
The portfolio view, confidence grades, and the anchor commitment-grade analysis, shared with qualified counterparties.
Step 3
Diligence
Methodology, parameter book, and per-asset detail, with management access for deeper questions.
Step 4
Structuring
Definitive documentation and terms. Any offering is made solely through that documentation.
Investor and lender relations
Fund I structuring, debt, and co-investment conversations. We will share the portfolio view, confidence grades, and the anchor commitment-grade analysis with qualified counterparties under NDA.
Email investor relationsNext step: a 30-minute introductory call, then materials under NDA.
Owners and partners
Commercial, industrial, healthcare, and logistics asset owners exploring behind-the-meter solar, cooling-as-a-service, storage, thermal efficiency, or fleet electrification on a long-term service structure.
Email the platform teamNext step: a scoping conversation and an engineered, parameter-conformant estimate.