Osaka Gas Establishes Solar power JV in Thailand
Osaka Gas and Bangkok-based Energy Pro Corporation have agreed to set up a solar power firm in Thailand, the Japanese utility said July 3.
The joint venture company, OE Solar, will cater to businesses in the industrial and commercial sectors, mainly in Bangkok. OE Solar will install photovoltaic facilities on building roofs or ground surfaces owned by the customers and supply the electricity generated there to the customers for 15 to 20 years, Osaka Gas said.
Energy Pro Corporation will have a 51% stake in the joint venture while Osaka Gas Singapore, a wholly-owned subsidiary of Osaka Gas, will own 49% equity. OE Solar will come into existence on July 31, 2019.
This joint venture will be Osaka Gas’s first involvement in a renewable energy generation project in southeast Asia. The company is aiming at setting up about 1 GW of renewable energy capacity by around 2030, it said.