KBank and INNOPOWER Pioneer Thailand’s Renewable Energy Certificate Platform to Drive Sustainable Energy Adoption and Income Generation

KASIKORNBANK (KBank) has reinforced its commitment to reducing greenhouse gas emissions by partnering with INNOPOWER Co., Ltd. (INNOPOWER), a leader in energy innovations. Together, they have unveiled a platform to facilitate the registration and sale of renewable energy certificates (RECs) for businesses, individuals, and the general public. This groundbreaking platform, a first for Thailand, is set to launch in the second quarter of 2024. Its primary goal is to streamline the process for retail customers with solar panels to register and sell RECs, while also enabling them to earn additional income as small-scale power producers. By promoting the sustainable generation and utilization of renewable energy in Thailand, this initiative aims to contribute to the country’s efforts in combating climate change.

Dr. Karin Boonlertvanich, KBank Executive Vice President, emphasized the bank’s dedication to supporting the adoption of clean energy among businesses and the public sector. Under the “Go Green Together” concept, KBank has introduced various products and services to encourage environmentally friendly practices. Through this collaboration with INNOPOWER, KBank seeks to establish a sustainable green ecosystem by facilitating the production and utilization of clean energy in the public sector. For the first time, individuals installing solar rooftops will have a convenient avenue for registering and selling RECs through INNOPOWER. Previously limited to large businesses, REC registration will now be accessible to small-scale producers, offering them opportunities to save on electricity costs and generate additional income. This project is expected to drive increased installations of solar rooftops and promote the adoption of clean energy, aligning with Thailand’s goal of achieving net-zero emissions.

KBank has utilized its digital expertise to develop three key services for ongoing projects related to the REC platform. These services include identity verification and information submission for REC registration, UX/UI design and IT system development to enhance the user experience for solar rooftop installers, and cash management solutions to facilitate secure and convenient payment transactions between KBank, INNOPOWER, and REC sellers. These financial solutions are tailored to meet the needs of small users and ensure a satisfying payment experience.

Mr. Athip Tantivorawong, CEO of INNOPOWER Co., Ltd., highlighted the company’s role as Thailand’s leading REC procurement and trading service provider, primarily catering to large organizations. The collaboration with KBank aims to aggregate electricity generation capacity from individuals and small-scale organizations in the residential sector, particularly those with solar rooftops under 500 kilowatts. With the solar rooftop market expanding at a rate of 26% annually, the REC Aggregator Platform, developed in partnership with KBank, addresses the growing demand by simplifying REC registration and enabling small-scale producers to sell certified RECs and earn additional income. KBank’s involvement is instrumental in streamlining the REC registration process, thereby supporting organizations and the nation in achieving tangible objectives related to carbon neutrality and net-zero emissions effectively.