BCPG tie-up eyes green energy deals
Firm looks at electric vehicle infrastructure
BCPG Plc, the renewable power generation arm of mostly state-owned Bangchak Corporation Plc, aims to develop electric vehicle (EV) infrastructure and provide energy solution services in Thailand and Southeast Asia under a new cooperation agreement with Singapore-based Keppel Infrastructure Holdings (KI).
They want to jointly offer value-added energy services to serve the growing demand for clean energy to reduce carbon dioxide emissions in the region, according to a memorandum of understanding (MoU) recently signed by BCPG and KI's subsidiary Keppel New Energy Pte.
Development of EV charging facilities and a high-efficiency cooling system, as well as wise use of energy under smart city initiatives, are among the projects in Thailand, said Bundit Sapianchai, chief executive of BCPG.
Under the MoU, both companies also agreed to work on renewable power generation and carbon credits projects.
The latter will pave the way for developing the marketplace in Thailand, Laos and Singapore in the future.
In the market, the amount of greenhouse gas reduction, known as carbon credits, generated by environmental projects can be traded, giving companies an option to offset the carbon dioxide they release into the atmosphere.
The Thai government has announced plans to have renewable energy make up 30% of the country's power generation capacity by 2030 and increase forested areas to 55% of the country by 2037, said Mr Bundit.
"We are delighted to collaborate with Keppel on providing new energy solutions to buildings and smart cities in Thailand as well as solutions on carbon emission reduction in Asean," he said.
This is BCPG's second collaboration with KI. Last year, the company joined hands with KI's wholly-owned Keppel DHCS Pte on a project to design, build and operate a cooling system, with a projected cooling load of 18,000 refrigeration tonnes, for Chulalongkorn University.
The 7.5-billion-baht district cooling system, known as DCS, will serve the university-owned property complex in the Sam Yan commercial area in Bangkok for a period of 20 years.
BCPG is also piloting peer-to-peer trading platforms for electricity generated by rooftop solar panels in many areas, including the Town Sukhumvit 77 (T77) project in cooperation with property developer Sansiri Plc.
BCPG has also employed an energy storage system as a solution to the intermittency of wind power at its 9-megawatt Lom Ligor wind farm in Nakhon Si Thammarat under a joint development with the state-run National Science and Technology Development Agency.