MOU Signing ceremony between SPCG, MUL, PEA ENCOM and KYOCERA

Event Calendar Press Releases Monday July 22, 2019 16:27
Bangkok--22 Jul--SPCG

Dr. Wandee Khunchornyakong Juljarern, Chairperson and CEO of SPCG Public Company Limited or SPCG, Mr. Koji Nemoto, Managing Executive Officer, Mitsubishi UFJ Lease & Finance Company Limited or MUL, Mr. Khemmarat Sartpreecha, Acting Managing Director, PEA ENCOM INTERNATIONAL CO., LTD. or PEA ENCOM and Mr. Masaki Tamagawa, General Manager, Sales Division Corporate Solar Energy Group, KYOCERA Corporation, Japan KYOCERA attended the MOU signing ceremony in the Cooperation of Solar Roof development to increase the potential and investment opportunities in the Solar Roof business in Thailand. The ceremony was held at Ladprao 1-3 Room, Centara Grand Hotel Central Plaza Ladprao, Bangkok

Dr. Wandee said that because SPCG is the pioneer in Solar Farm and Solar Roof developer in Thailand and ASEAN Community and we has seen the problems of current technology changes that will play a huge role in the near future therefore is the beginning of this project.

By expanding production and using renewable energy in Thailand. This collaboration has great potential because all parties are highly capable in their respective expertise, bring a different skill set and asset to the Joint Venture.

As for the cooperation in the Solar Roof project, the target customers will be industrial sector because they required a lot of energy, especially during the day. Thus reducing the cost of electricity has become a priority factor for every industry. Customers can use the energy produced from the solar roof system to reduce electricity bills as well as contribute to reducing carbon dioxide emission which is the main cause of global warming problems. Therefore we believes that the solar roof power generation system will become more popular in the industry sector.

Dr. Wandee said that this Cooperation is another important step for the company to expand company portfolio. Which our main duty is to seek maximum benefits for customers and become one stop service from the installation of the solar roof power generation system to customer. As well as after installation service including all other services to achieve the highest customer satisfaction. And ensure that the operation and maintenance of the energy system is most effective.

Mr. Nemoto Said MUL are the lease and finance arm of Japan's largest financial group, Mitsubishi UFJ Group. Having designated "environment and energy" as areas of emphasis, we operate Japan's largest solar electric power generation capacity, on a total scale of around 400 MW.

When studying the knowledge we cultivated domestically and overseas developments leveraging our overseas client base, we judged that teaming to form an alliance with SPCG, PEAENCOM, and Kyocera, using their respective strengths in Thailand, where the renewable-energy market has growth potential and where we have a client base, would be the best move.

We think that by combining the knowledge, knowhow, and capabilities of the 4 companies, we can provide high-quality and speedy service to clients, and become a leading company in the Thai PPA market. Our initial aim is to be able to provide cumulative service of 100MW. We see our roles as assisting in fund raising and developing business with Japanese companies, which are our strengths.

Mr. Khemmarat said the Cooperation for this project considered the 4 potential companies to develop the Solar Roof projects. PEA ENCOM also plans to implement such investments as well. Which currently has a group of customers who are trusted in the image of PEA ENCOM, a subsidiary of Provincial Electricity Authority in security reliability, standards and safety in the installation of solar roof systems over 10 MWp.

The first phase will focus on customers or investors in the industrial sector from Japan that has established production bases in Thailand. All of you probably know that the economy of Thailand over the past 20 years partly being driven by the economy from investors from Japan.

Our partners are supporting each other, MUL, which are top financial institutions in Japan, KYOCERA, which is a solar panel manufacturer with more than 30 years of experience and SPCG, which is the Pioneer in Solar Farm and Solar Roof developer in Thailand and ASEAN Community.

Finally, Cooperation will be a driving force and stimulate the promotion of the use of solar power systems on the roof, which is clean energy in Thailand to be more sustainable.

Mr. Tamagawa said "As we embrace an ever-changing future, we will continue to provide products and services that exceed our customers' expectations and contribute to the advancement of society and humankind. Kyocera started solar business in 1975, as a manufacturer of solar modules. We have been a pioneer in developing innovative solar power solutions for over 40 years.We have already worked with SPCG for a long time, and we have served many customers in Thailand already with our solar modules, together with SPCG. We would like to continue to make contribution to a development of the society in Thailand and provide high-quality solar modules which suits the purpose of JV in reliability."

Under the MOU, SPCG Public Company Limited or SPCG will have the duty to provide engineering, procurement and construction services (EPC), operations and maintenance (O&M) as well as other transactions related to the projects including services before and after installation. Mitsubishi UFJ Lease & Finance Company Limited or MUL will be responsible for providing advice both operational and financial, including providing information based on the experience in the power purchase transaction and the renewable energy business. PEA ENCOM International Limited or PEA ENCOM will play a role in supporting all necessary licenses and permits for such projects and KYOCERA, which will support solar panels or solar cells.

By this joint venture, the shareholding proportion has divided into SPCG Public Company Limited (SPCG) 35%, Mitsubishi UFJ Lease & Finance Company Limited (MUL) 35%, Pea Encom International Co., Ltd. (PEA ENCOM) 20% and Kyocera Corporation, Japan (KYOCERA) 10% and will form up a new company within July 31, 2019 after the MOU signing ceremony.

Dr. Wandee Khunchornyakong Juljarern, Chairperson and CEO of SPCG said that the company policy in investing will focus on long-term investment and sustainable. Because investing in the country has many important factors, so the company always choose a good and strong business partner. The company is determined to seek opportunities and alternative investment options in renewable energy both domestic and international to develop a business growth, expand the business and create additional value for both shareholders and stakeholders. As well as contribute to reducing global warming problems which is the duty of everyone that must cooperate.

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