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THAILAND, February 10, 2022: Constant Energy and Shizen Energy Inc. (Shizen Energy) concluded a long-term Solar Power Purchase Agreement for a 1,169 kWp solar rooftop operation with Panasonic Energy (Thailand).
Panasonic Energy (Thailand) is a leading manufacturer of batteries in Thailand, and this solar rooftop project will enable significant power cost reduction by using competitive renewable energy, and approximately 13,745 tons of carbon emissions are expected to be reduced during the 20 year contract.
Constant Energy and Shizen Energy have financed this operation with a THB 1.5 billion (approx. US$50 million) project finance agreement with Thailand''s local bank, TMB Thanachart Bank PCL. This is one of the largest project finance agreements for a C&I (Commercial & Industrial) solar rooftop project in Thailand.
"We are very pleased to have concluded this agreement with Constant Energy and Shizen Energy. This endeavor to utilize renewable energy will be a big step to accelerate our environmental efforts. We will continue to work on energy creation and energy saving, aiming for a "Zero CO2 factory" in the near future."
"We are very pleased and honored to establish a long-term partnership with a leading company in the Storage Battery Manufacturing sector in Thailand and worldwide which it''s one of the oldest companies which we cooperated. We look forward to supporting a combined reduction in CO2 emission and electricity cost through this solar power plant."
"We are very delighted to be the developer for Panasonic Energy (Thailand). Together with Constant Energy, we would like to contribute to the achievement of Panasonic Energy (Thailand)''s environmental goals of a carbon-free society and conversion to renewable energy."
PECTH was established in 1961 and has been manufacturing and selling dry cell batteries for over 60 years now. The company holds the highest share of dry cell battery sales in Thailand, while also exports its products worldwide including APAC countries and Japan. The company is currently rolling out activities toward realizing a zero CO2 factory to promote businesses aiming for a sustainable society.
Sarah Okafor leads the communications strategy at Constant Energy, specializing in corporate communication and sustainable energy initiatives. She specializes in creating clear, impactful content that supports the company''s mission.
Japan-based Shizen Energy Incorporated and Constant Energy, an independent power producer (IPP), have signed a 20-year power purchase agreement (PPA) with Panasonic Energy (Thailand) Company Limited. The power will be sourced from a 1,169 kWp rooftop solar array.
This move is expected to offset around 13,745 tonnes of carbon dioxide (CO2) emissions. Shizen Energy and Constant Energy have secured THB 1.5 billion in financing from TMB Thanachart Bank to fund the solar project.
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