Tokyo Century Corporation Announces First Corporate PPA-Based Solar Power Generation and Heat Battery System in Thailand

Strategic Insights -

Tokyo Century Corporation has announced that a project proposal it submitted as a representative participant to Joint Crediting Mechanism Projects financially supported by the Ministry of the Environment, Japan (MOEJ) in FY2024 has been selected. The project involves the installation of a solar power generation and heat battery system at a factory facility in Thailand, marking the first corporate PPA-based solar power generation and heat battery system in the country. The system will reduce greenhouse gas (GHG) emissions by utilizing stored heat to generate steam supplied to the factory.

Key Takeaways:

  • The project is the first corporate PPA-based solar power generation and heat battery system in Thailand and is expected to be widely adopted in Thailand and other Asian countries.
  • The system will reduce greenhouse gas (GHG) emissions by ensuring a stable supply of heat around the clock and using the heat to generate steam supplied to the factory.
  • Tokyo Century Corporation was the first financial services company to form an international consortium as a representative participant in the JCM Projects, with 16 selected projects (involving 23 joint participants) in Indonesia, the Philippines, Thailand, Myanmar, and Vietnam from fiscal 2017 to fiscal 2024.
  • SCG Cleanergy, a renewable energy business operator wholly owned by Thailand-based leading conglomerate Siam Cement Group (SCG), will install the solar power generation and heat battery system in a packaging factory facility in Thailand.
  • The system utilizes Rondo Energy's electrified thermal energy storage technology using refractory brick, which converts solar power into high-temperature heat and stores it in the heat battery.
  • The Tokyo Century Group upholds contributing to a decarbonized society as a materiality based on the Sustainable Development Goals and has been actively participating in JCM projects in ASEAN countries over the years.

Statistics:

  • 30 JCM partner countries as of May 2025. (Source: Ministry of the Environment, Japan)
  • 16 selected JCM projects (involving 23 joint participants) in Indonesia, the Philippines, Thailand, Myanmar, and Vietnam from fiscal 2017 to fiscal 2024. (Source: Tokyo Century Corporation)
  • The system will be the first corporate PPA-based solar power generation and heat battery system in Thailand. (Source: Tokyo Century Corporation)

Sources:

  • Ministry of the Environment, Japan (Source for 30 JCM partner countries as of May 2025)
  • Tokyo Century Corporation (Source for 16 selected JCM projects and the first corporate PPA-based solar power generation and heat battery system in Thailand)