Battery maker Panasonic Energy signs solar PPA in Thailand

Japanese renewables developer Shizen Energy Inc and Bangkok-based independent power producer (IPP) Constant Energy have concluded a 20-year power purchase agreement (PPA) with battery maker Panasonic Energy (Thailand) Co Ltd involving a 1,169-kWp rooftop solar array.

Thanks to the contract, Panasonic Energy (Thailand) should be able to offset some 13,745 tonnes of carbon dioxide (CO2) emissions in its battery factory in Samut Prakan province.

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Shizen Energy and Constant Energy have secured THB 1.5 billion (USD 46.5m/EUR 41m) in financing from local bank TMB Thanachart Bank PCL (BKK:TTB) for this solar project, the Japanese firm said today. The funding deal is one of the largest of its kind in the country linked to a commercial and industrial (C&I) scheme, according to the announcement.

(THB 1.0 = USD 0.031/EUR 0.027)