Japan’s Looop promoting solar energy for corporate users in Thailand
BANGKOK, NNA - Japan’s Looop Inc. is promoting the introduction of solar power generation for self-consumption in Thailand through a local joint venture to help cut energy costs and tackle aggravating air pollution.
RLN Energy Co. provides free solar power generation systems for corporate customers at their facilities, such as plants, and charges them for the electricity they consume under power purchase agreements (PPAs), Looop spokeswoman Makiko Taketani told NNA.
Looop founded RLN Energy in Bangkok with local partner Rojana Energy Co., a subsidiary of Rojana Industrial Park Public Co., and Japan’s Nippon Steel Trading Corp. on April 30 with a capital of 40 million baht ($1.28 million), the renewable energy service company said in a statement. The three partners’ investment ratios in the joint venture are being withheld.
Thailand is the third foreign country in which the Tokyo-based Looop has set up an affiliated company, following Malaysia and Lebanon, in the past two years.
Rojana Energy is mainly soliciting its tenants in six industrial parks in central and eastern Thailand run by its parent company to introduce RLN’s solar power generation systems.
Nippon Steel Trading, also headquartered in Tokyo, hopes to take advantage of its large sales network to market RLN’s solar power generation systems.
RLN has thus far signed a contract with one company to install a solar power generation system with an output capacity of about 1,000 kilowatts, Taketani said.
RLN will also explore the possibility of installing such systems at governmental facilities and households in Thailand, she added.
Thailand has seen electricity prices rising since 1988 to the highest level among Southeast Asian countries now, with growing public concern over worsening air pollution, according to Looop.
The Thai government has set a goal of raising the ratio of renewable energy to all power generation sources in the country to 30 percent by 2036, according to the statement.
Looop, founded in 2011, has installed power plants globally with total output capacities of over 200,000 kw. It joined power generation projects in the Middle East and Africa in April 2020.
Looop’s subsidiary in Malaysia is mainly selling solar panels, and has just begun services for solar power self-consumption under PPAs, Taketani said.