Sharp Solar Solution Asia Co., Ltd. (SSSA) has concluded an agreement with Fuyo General Lease Co., Ltd. to establish S-Solar Generation Thailand Co., Ltd., which will sell electricity in Thailand. This is the first time that Sharp Corporation or one of its subsidiaries has entered the business of selling power to private companies. Under a PPA, customer companies signing contracts with the new joint venture will be able to have a solar power system installed with zero initial investment and use solar-generated power at a reduced rate.
Recent years have seen growing demand for solar power systems in Thailand as the country moves to become carbon free. The service provided by this new joint venture will lower the cost barriers normally faced at time of solar power system installation, and will contribute to the further spread of renewable energy.
The new joint venture will install solar power systems on customers’ facilities (building roofs, for example) and sell the electricity generated to the customer at a rate lower than electricity from the grid. SSSA will be in charge of installing and maintaining the solar panels. Operation of a solar power generation system is scheduled to begin in March 2022 at an appliances factory, the first customer of the new joint venture.
In addition to providing customers with energy solutions to meet their needs, the new joint venture will enable Sharp to strengthen its capability to offer rooftop solar power systems, for which demand is expected to grow for buildings such as factories and commercial facilities. This way, Sharp will contribute to the further widespread use of renewable energy.
Overview of New Joint Venture Company
|Company name||S-Solar Generation Thailand Co., Ltd.|
|Company location||Bangkok, Thailand|
|Established||July 12, 2021|
|Business||• Power sales via PPA• Dissemination of renewable energy|