Thailand's Renewable Energy Push: Chow Bright Ventures Partners with Loxley to Install 36 Megawatts of Solar Power

Thailand is stepping up its efforts to achieve carbon neutrality by 2050 and net-zero greenhouse gas emissions by 2065, with private sector players taking the lead. Chow Bright Ventures Holdings Public Co Ltd (CHOW) has signed a memorandum of understanding (MoU) with Loxley Public Co Ltd to install more than 36 megawatts of solar power nationwide. This initiative will not only cut energy costs for businesses but also advance Thailand's decarbonisation targets. The partnership between CHOW and Loxley will see the installation of solar systems for Loxley's partner network under a power purchase agreement model, enabling companies to adopt solar energy without upfront investment.

Key Takeaways:

• The partnership aims to install more than 36 megawatts of solar power nationwide, with the goal of cutting energy costs for businesses while advancing Thailand's decarbonisation targets.
• The initiative will see CHOW design, install, and maintain solar systems for Loxley's partner network under a power purchase agreement model, allowing companies to adopt solar energy without upfront investment.
• The roll-out is expected to be completed within three years, supporting Thailand's policy targets of achieving carbon neutrality by 2050 and net-zero greenhouse gas emissions by 2065.
• The 36MW capacity will significantly expand the share of renewable energy consumption among Loxley's partners and is expected to lower greenhouse gas emissions across multiple industries.
• Both companies view the project as a model for how private-sector collaboration can contribute to national climate goals while delivering economic benefits.
• CHOW has already delivered more than 10,000 solar projects nationwide, positioning the company to provide efficient and sustainable energy solutions.
• Loxley's director, Suroj Lamsam, emphasized the company's commitment to sustainability, stating that the collaboration will drive real impact across the supply chain, cut costs for partners, reduce emissions, and deliver long-term value to society.

Statistics:

• 36 megawatts of solar power will be installed nationwide under the partnership.
• The initiative aims to cut energy costs for businesses.
• Thailand's policy targets include achieving carbon neutrality by 2050 and net-zero greenhouse gas emissions by 2065.
• The roll-out is expected to be completed within three years.
• CHOW has delivered more than 10,000 solar projects nationwide.
• 35% of Thailand's energy mix is generated from renewable sources (as of 2022, according to the International Renewable Energy Agency (IRENA) [1]).

Sources:

• [1] International Renewable Energy Agency (IRENA) "Renewable Energy Market Analysis: Asia & Pacific 2022"