The new partnership aims to develop sustainable energy and smart city solutions to enhance the energy transition and digital transformation in Thailand and across the Asia Pacific.
Utility SP Group and Banpu NEXT, a subsidiary of Banpu PCL focusing on smart energy, will combine their expertise gained in renewable energy, energy storage and smart city initiatives in Singapore, China, Thailand, Japan, the US, Australia and Vietnam to accelerate the decarbonisation of energy systems, cities and economies in the Asia Pacific.
Urban decarbonisation will be driven by the application of district cooling, cross-border renewable energy certificates and smart city solutions by the two companies.
For instance, SP Group’s expertise in developing ‘the world’s largest’ underground district cooling network in the Marina Bay district in Singapore will be used to develop energy-efficient systems that can help reduce cost and energy for other cities in the region. The model has since been adopted for Raffles City Chongqing in China since its launch in 2006.
SP Group’s blockchain-enabled renewable energy certificates platform will be combined with BANPU NEXT’s renewable energy, energy storage, smart cities, energy management and smart energy solutions to optimize consumer projects, according to a statement.
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The partnership is part of efforts by the two companies to popularize clean energy and digital solutions for sustainability, climate mitigation and to enhance business and economic development.
Somruedee Chaimongkol, the CEO of Banpu NEXT, said the collaboration will help optimize energy management and efficiency to reduce consumer energy costs and help businesses to reduce operational costs and achieve higher profits.
Chaimongkol, added: “Banpu NEXT operates under Banpu Greener & Smarter strategy with a focus on providing ‘Smart Energy Solutions’. We drive the growth of our five core businesses: Renewable Energy, Energy Storage, Energy Trading, eMobility and Smart Energy.”
She added that collaboration with SP Group will enable her firm to expand its business capabilities and prepare for next-generation business models and customer expectations whilst expanding its footprint across the Asia Pacific.
With the global clean energy market expected to reach $1,977.6 billion by 2030 and the Asia-Pacific region estimated to have the highest share of the market over the next decade with a compounded annual growth rate of 9.6% annually, this partnership between Banpu NEXT and SP aims to facilitate this demand for innovative clean energy solutions.