Shizen Energy, a Japanese renewable energy developer, and Constant Energy, a Thai power producer, have announced the signing of a 20-year power purchase agreement (PPA) with Panasonic Energy (Thailand) Co Ltd, featuring a 1,169 kWp rooftop solar array.
Panasonic Energy (Thailand) is a leading battery manufacturer in Thailand, and the solar rooftop project in Samut Prakan province would help lower electricity costs by employing competitive renewable energy, resulting in a reduction of about 13,745 tonnes of carbon dioxide emissions.
According to Panasonic Energy (Thailand), Shizen Energy and Constant Energy have acquired TH$ 1.5 billion (US$46.5 million) in funding for this solar project from local bank TMB Thanachart Bank PCL. The funding deal is allegedly one of the largest of its kind in the country related to commercial and industrial loans (C&I).
“We are very glad to have signed this deal with Constant Energy and Shizen Energy,” said Takuya Tanimoto (谷本卓也), Managing Director of Panasonic Energy (Thailand). “This move to use renewable energy will be a significant step forward in our environmental efforts. We'll keep working on energy generation and conservation, with the goal of achieving a 'Zero CO2 plant' in the near future.”
Franck Constant, President of Constant Energy, commented, “We are very delighted and proud to establish a long-term cooperation with a top firm in the Storage Battery Manufacturing industry in Thailand and worldwide, which is one of the oldest companies with which we collaborated. Through this solar power plant, we hope to contribute to a joint reduction in carbon dioxide emissions and electricity costs.”
Rei Ushikubo (牛窪伶), Country Manager of Shizen Energy (Thailand) went on saying, “We are really thrilled to be the developer for Panasonic Energy. We'd like to work with Constant Energy to help Panasonic Energy (Thailand) accomplish its environmental goals of a carbon-free society and renewable energy conversion.”