MOU Signing Between Tokyo Electric Power Company Holdings and Constant Energy For SEA Expanded To Commercial Solar PPA Project For Thailand

After joining forces with Constant Energy to bring commercial rooftop solar panels to factories and other large-scale industrial businesses at zero cost, Tokyo Electric Power Company Holdings has further expressed its support of the solar power purchase agreement business model by investing in CE9, a company that delivers rooftop solar PPAs to factories in Thailand.

THAILAND, April 22, 2022: Tokyo Electric Power Company Holdings, Inc. (hereinafter referred to as “TEPCO HD”) announced their investment in Solar Rooftop CE 9 Co., Ltd. (“CE9”). CE9 is a company established by Constant Energy (“CE”), which operates a rooftop solar power purchase agreement (“rooftop solar PPA”) in Thailand. The investment will be implemented through TEPCO Global Energy Pte. Ltd., an intermediary holding company established in Singapore in March 2022.

This move is followed by TEPCO HD signing a memorandum of understanding (“MOU”) with CE in January 2022. TEPCO HD is Japan’s largest electricity operator, and is responsible for the infrastructure that supplies energy to Japan’s Kanto region, which includes the Tokyo Metropolitan area. They handle all power utility business components from power generation to power retailing. The terms of the MOU define their agreement to jointly promote renewable energy-related businesses and services to companies with rooftop space of a minimum of 5000sqm for solar installations in SEA, using the commercial solar PPA business model as a steppingstone.

The first project to be executed through CE9 based on the MOU will be a commercial rooftop solar project for a Fortune 500 company who is global leader in electronics in Bang Pa-in Industrial Estate, Thailand. The Fortune 500 company signed a solar PPA with CE in January 2022 to benefit from a 3.8MW on-site solar energy production generating more than five GWh/year of green energy. This alliance will help this Fortune 500 company to provide clean solar energy to its operations in Thailand.

Utilizing the knowledge and technology Constant Energy has accumulated in the electric power business, this union with TEPCO HD will provide various renewable energy solution services, including rooftop commercial solar installations using solar PPAs and a fast-track development business model.

Solar power purchase agreements are the fastest and most cost-effective innovation to make large-scale commercial rooftop solar installations more accessible to factories. Taking investment and maintenance costs off our customers’ shoulders has enabled CE to make the most significant short-term contribution towards realizing a green, sustainable, and carbon-neutral society in our joint fight against Global Warming.

constant energy solar photovoltaic rooftop renewable energy supplier thailand south east asia signing mou

Franck Constant, Founder and CEO of Constant Energy, commented:

“We are honored to have partnered up with TEPCO HD to accelerate the conversion of industrial businesses with significant requirements in electricity to clean and renewable energy sources. Considering the current challenges faced by the accessibility of fossil fuels, it is even more of a priority for large businesses to switch to renewable energy. With solar power being a reliable and affordable resource, allowing companies to use their rooftop space to self-power protects their businesses from power outages and electricity price increases, on top of reducing their carbon emissions and electricity bills.”

Seiichi Suzuki, Head, General Manager of Tokyo Electric Power Company Holdings, Inc.’s Overseas Business Office, added:

“We are very pleased to announce our complementary partnership with CE, starting with WD’s rooftop solar project where we will apply our sustainable solution to an important production factory.  Constant Energy has established their strengths in the Corporate PPA market, such as price competitiveness, and speedy delivery of reliable PV facilities with top-level safety management.  TEPCO HD will contribute to this partnership with our technical expertise and financial capabilities as a global, large-scale power utility, to meet the increasing demand for renewable energy supply in SEA.  This partnership is a crucial step towards our company’s carbon neutrality goal: achieving a safe and comfortable carbon neutral society.”

[ About Constant Energy ]

Constant Energy is a renewable energy generation and storage investment platform that invests in and manages high-quality power assets in selected countries.  As a commercial solar panel developer and Independent Power Producer (IPP), we develop, design, finance, build, own, and operate utility-scale and commercial rooftop solar photovoltaic power stations to lead the way in alternative energy resources and renewable energy. Regionally headquartered in Bangkok, Constant Energy operates primarily in Southeast Asia. We produce long-term green and reliable electricity for our clients, using renewable energy sources and green energy fuels, enabling them to reduce their energy bills and increase profitability and enterprise value while focusing on their core business activities.

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[ About Tokyo Electric Power Company Holdings, Inc.]

Tokyo Electric Power Company Holdings, Inc. (TEPCO) is Japan’s largest power company group and comprised of four independent business entities: TEPCO Fuel & Power, Inc., TEPCO Power Grid, Inc., TEPCO Energy Partner, Inc., and TEPCO Renewable Power, Inc. The Group generates, distributes and sells electricity and other types of energy principally in the Kanto Region, which includes Japan’s two most populous urban centers, Tokyo and Yokohama. TEPCO’s 37,891 employees (TEPCO Holdings and its consolidated subsidiaries) are committed to providing safe, reliable power as well as fulfilling its responsibilities to the communities of Fukushima (as of March 31, 2021).

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