ITOCHU CORPORATION ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter 'ITOCHU') announced today that it has established a joint venture, which will operate a distributed power source business in Thailand, with Berkeley Energy C&I Solutions (hereinafter, 'BECIS') of Singapore. Through this joint venture, ITOCHU will accelerate its activities to suggest renewable energy solutions for customers in Thailand, including rooftop solar power generation facilities, together with BECIS by making use of ITOCHU's network.
Thailand is the first ASEAN country to allow power purchase agreements between private enterprises. In addition, the country has favorable weather conditions and its government is willing to introduce renewable energy. Because of this background, rooftop solar power generation facilities, which use idle space, have been installed across the country.
In Thailand, BECIS has been operating a business of installing solar power generation facilities on the roofs of factories inCommercial & Industrial Sector with no initial investment cost, providing customers with power derived from renewable energy. The company has provided a cumulative total of approx. 70 MW through this business.
ITOCHU began to collaborate with BECIS in 2018 in introducing customers, mainly for its Group companies. ITOCHU , by looking into increasing demand of CO2 reduction, has decided to establish a joint venture with BECIS, thus participating in the business. The joint venture will implement the recently signed 1.0 MW contract with Ogihara (Thailand) Co., Ltd. Through this business, ITOCHU will provide customers with power generated by using solar power and CO2 credits. The use of renewable energy power sources will permit customers to cut electricity cost, reduce CO2 emissions, and help achieving RE100 for customers .
ITOCHU's Brand-new Deal 2023, its medium-term management plan, includes 'business transformation through the incorporation of consumer needs into products' and 'continued contribution to/efforts in the SDGs' in its Basic Policies. Through these initiatives, ITOCHU will accelerate the development of sustainable energy systems that meet customer demand, thus helping build a recycling-oriented society.
Outline of the Joint Venture
| Name of project company | BEIT Solar Co., Ltd |
|---|---|
| Representative | Chayasak Itthisiri |
| Business description | Promotion of rooftop solar power generation business in Thailand |
| Established | July 2021 |
About BECIS
Berkeley Energy Commercial Industrial Solutions ('BECIS') is an Energy as a Service provider, which gives various proposals on renewable energy and energy conservation to customers from the industrial sector. Its shareholders include Berkeley Energy, FMO (Netherlands), Siemens Financial Service (Germany), and Norfund-KLP (Norway). It operates a similar business in countries other than Thailand, such as India, Indonesia, Malaysia, the Philippines, and China.
| Corporate name | Berkeley Energy C&I Solutions |
|---|---|
| Representative | Kunal Mehta |
| Headquarters | Singapore |
| Established | November 2019 |
| Net sales | www.be-cis.com |
Illustration of the renewable energy solution to be provided
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Itochu Corporation published this content on 23 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2021 09:21:05 UTC.
