Sharp, Fuyo General Lease form solar power joint venture in Thailand

13, Jul. 2021

Photo by Jeroen van de Water on Unsplash
Photo by Jeroen van de Water on Unsplash

BANGKOK, NNA - Japan's Sharp Corp. and Fuyo General Lease Co. have established a joint venture in Thailand to sell solar-generated electricity to corporate clients.

Sharp said Monday that Bangkok-based Sharp Solar Solution Asia Co. concluded an accord with Fuyo General Lease of Mizuho Financial Group Inc. the same day to create S-Solar Generation Thailand Co. in the Thai capital.

It is the first time the Japanese electronics firm or one of its subsidiaries has launched the sale of electricity to private companies.

Sharp did not release the joint venture's capital or investment ratios.

Under a power purchase agreement with S-Solar Generation, corporate clients will have a solar power system installed with zero initial investment and use solar power at a reduced rate, Sharp said.

Sharp Solar Solution will install solar panels and conduct maintenance work.

A Sharp official told NNA on Monday that the joint venture aims to achieve around 1 billion yen in total contracts in the initial year of operations and do the same after the 2022 business year.

Sharp Appliances (Thailand) Ltd., a Sharp subsidiary in Chachoengsao Province in eastern Thailand, will become the joint venture's first customer, and a solar power generation system to be installed at its home appliance factory will start operations next March. (NNA/ Kyodo)