Press Release
Participation in Corporate Solar PPA Project in Thailand and the first 3.8 MW project
April 22, 2022
Tokyo Electric Power Company Holdings, Inc.
Tokyo Electric Power Company Holdings, Inc. (hereinafter referred to as "TEPCO HD") announces that it will invest in Solar Rooftop CE 9 Co., Ltd. ("CE9"). The investment will be implemented through TEPCO Global Energy Pte. Ltd., an intermediary holding company established in Singapore in March 2022. This is TEPCO HD's first participation in an overseas rooftop solar PPA project.
CE9 is a special purpose company established by Constant Energy ("CE"), which develops, owns and operates rooftop solar projects under a power purchase agreement ("rooftop solar PPA") in Southeast Asia. The investment ratio between TEPCO HD and CE is 49:51, which is based on the Shareholders Agreement signed by TEPCO HD and CE on April 8th, 2022.
TEPCO HD and CE plan to develop a 3.8 MW rooftop solar PPA project for the site, located in Ayutthaya Province, Thailand, based on their Memorandum of Understanding for collaboration. The project will be the first to supply electricity after TEPCO's investment.
CE is well-managed and has been developing its rooftop solar PPA business for industrial customers for more than five years. The number of CE's contracts has increased to 25, situated mainly in Thailand.
In Thailand, solar power generation systems for industrial use are rapidly spreading in response to the recent trend toward carbon neutrality. At the 26th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP26), Prime Minister Prayuth of Thailand set a goal of achieving carbon neutrality by 2050, and the shift to renewable energy sources, including solar power, is an important issue in the country.
TEPCO HD will continue to contribute to the realization of a clean, sustainable, and carbon-neutral society in Thailand and Southeast Asia by providing various energy solution services, including rooftop solar PPA business, utilizing the knowledge and technologies it has cultivated in its electricity business.
<Attachment>
