Sharp Solar Solution Asia (SSSA) has concluded an agreement with the Fuyo General Lease Co. to establish a joint venture company, S-Solar Generation Thailand, which will sell electricity in the Thai market. This is the first time that the Sharp Corporation or one of its subsidiaries has entered the business of selling power to private companies. Under a PPA, companies signing a contract with the new joint venture will be able to have a solar power system installed with zero initial investment and subsequently 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 the time of system installation, and will contribute to the further adoption of renewable energy.
The joint venture will install solar power systems on customer 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 the solar power generation system is scheduled to begin in March 2022 at an appliances factory, the joint venture’s first customer.
In addition to providing customers with energy solutions to meet their needs, the joint venture will also enable Sharp to strengthen its capability in offering rooftop solar systems, for which demand is expected to grow for buildings such as factories and commercial facilities.