SET-listed Energy Absolute Plc (EA), a renewable energy developer and operator, is planning to spend 2 billion baht on expanding its ultra-fast electric vehicle (EV) charging facilities for large public transport vehicles across Bangkok.
The expansion follows a memorandum of understanding (MoU) signed yesterday between EA, the Metropolitan Electricity Authority (MEA), the state power distribution arm, and JRW Utility, an electrical engineering and ICT service provider, in a move to tap into the growing EV industry amid global oil price fluctuations.
EA chief executive Somphote Ahunai said the company plans to increase the number of direct current (DC) chargers by 1,000 units within the end of this year, up from a total of 1,900 units installed under the EA Anywhere brand.
The MEA will provide sufficient and stable electricity supply to the charging facilities while JRW Utility will help with basic infrastructure development.
The ultra-fast charging system takes only 15 minutes to recharge batteries by up to 80%. It is specifically designed to serve buses, vans and ferries which do not want to spend too much time on charging during their daily services.
JRW Utility chief executive Jarun Wiwatjesadawut said EV charging facility development will support the state's EV promotion policy, part of its efforts to adopt clean energy to reduce carbon dioxide emissions.
EA has so far expanded its business to cover various EV-related projects.
Last Tuesday it teamed up with public boat operator Family Transport Co to jointly conduct a feasibility study on a shift toward a battery-powered boat service.
Family Transport currently carries passengers along the Saen Saep canal between Phan Fa Bridge near Ratchadamnoen Avenue in central Bangkok and Wat Si Boonruang in Bang Kapi district, northeast of the capital.
Earlier this month, EA made a buyout of bus operator Smart Bus Co through its wholly-owned E Transport Holding. Smart Bus, which owns 1,200 buses, offers a service covering 37 routes in Bangkok.
EA also runs its own public transport service, which started in November 2020. The firm operates a commercial service providing electric boats for commuters along the Chao Phraya River in Bangkok and Nonthaburi.
In early December last year, EA opened a lithium-ion battery manufacturing plant in Chachoengsao.
The factory has a production capacity of 1 gigawatt-hour a year, which enables it to produce batteries for 4,160 buses or 30,000 saloons in the first phase.
Its battery production came after it took over Taiwan-based Amita Technologies Inc, a local energy storage manufacturer.