REM Asia 2025 Reflections: Embracing Mix-and-Match Strategies

Written by: Vivian CHUANG

Verified by: Krishnan SRINIVASAN

Image 1: Mt. Stonegate Team with Chip Wood from CRS

Mt. Stonegate was honored to be invited to REM Asia 2025 and to support the event as a Megawatt Sponsor. As a company dedicated to delivering high-quality renewable energy solutions across Asia, we continue to engage with regional partners to advance credible and impactful procurement strategies.

This year REM Asia 2025 in Singapore, focus on the practical realities of implementation. Corporates are increasingly embracing flexible, mix-and-match procurement approaches in response to evolving market conditions. Here are the three key insigths from this year.

1. PPAs no longer be the only answer

While power purchase agreements (PPAs) remain an important part of the renewable energy procurement toolbox, the pace of adoption in many Asia markets has slowed. Not because the interest from demand is reduced, but because the market structure or condition are not in place. Uncertainty around policy timelines, contracting complexity, and challenges with creditworthiness have prompted many buyers to rethink whether long-term PPAs are always the right answer—especially in markets where enabling frameworks are still evolving.

Image 2: Mt. Stonegate Managing Director, Dr. Jules Chuang

2. “Mix and Match” Strategies Are Gaining Ground

   
   

At REM Asia this year, there was a clear consensus that there is no one-size-fits-all solution to renewable energy procurement. Rather than waiting for the “ideal” contract or policy framework, companies are increasingly adopting what works now. Many corporate buyers are embracing hybrid strategies—combining unbundled RECs, rooftop solar, PPAs, and other market instruments—to build more resilient and flexible procurement portfolios. This mix-and-match approach allows companies to balance credibility, impact, and feasibility, enabling them to act today while positioning for longer-term goals. Importantly, this shift isn’t about lowering ambition—it’s about being adaptive and strategic in navigating diverse and often uncertain market conditions across Asia.

3. Adaptive Portfolios Reflect Market Diversity

Procurement strategies are becoming more nuanced, reflecting the uneven pace of market development across the region. Leading companies are designing locally tailored portfolios that accommodate varying regulatory landscapes, market maturity, and procurement readiness. For example, many corporates now use transitional solutions—such as unbundled RECs—as a bridge toward more advanced models like PPAs, which can be adopted once enabling conditions improve.

Case in Point: Mix-and-Match Procurement in India

India exemplifies how diverse procurement mechanisms can be applied in a dynamic market environment:

Short-term RE Options

• Power Exchanges: Platforms for trading electricity between producers and consumers. India currently has three such exchanges.

• International Renewable Energy Certificates (I-RECs): Can be purchased directly from project developers or through brokers/traders.

Long-term RE Options

• Rooftop Solar:

  1. Residential: Supported by a USD 8.8 billion subsidy program from the Government of India.

  2. Commercial: Enables listed companies to disclose Scope 2 emissions reductions.

• Utility-Scale (Discom Route): Direct PPAs with distribution companies, often involving tripartite agreements with quasi-government entities like SECI, NTPC, and NHPC.

• Utility-Scale (Corporate Route): Developers offer innovative and flexible generation profiles under competitive terms.

RE Derivatives

• Green Tariffs: Enable consumers to procure RE from distribution companies at regulated prices, set by State Electricity Regulatory Commissions (SERCs).

• Local RECs: Allow obligated entities to meet Renewable Purchase Obligations (RPOs) without procuring physical renewable energy.

This mix-and-match approach empowers buyers to act now while laying the groundwork for deeper decarbonization over time.

At Mt. Stonegate, we understand that navigating Asia’s renewable energy landscape requires more than just ambition—it demands agility, credibility, and local insight. That’s why we work closely with corporates, developers, and ecosystem partners to design tailored procurement strategies that balance impact and feasibility.

Whether through strategic consulting, REC sourcing, project structuring, or market intelligence, our team brings deep regional expertise to help companies act with confidence—today and into the future.

Interested in accelerating your renewable energy goals in Asia?Let’s explore how Mt. Stonegate can support your journey.