July 8 (Renewables Now) - The Singaporean arm of Japan’s Osaka Gas Co (TYO:9532) has agreed with Bangkok-based Energy Pro Corp to form a joint venture (JV) that will operate on the solar power market in Thailand.
The new entity, provisionally named OE Solar Co, will install rooftop and ground-mounted photovoltaic (PV) arrays, mainly in the Thai capital. Its major clients will be industrial and commercial parties, Osaka Gas said on Wednesday.
The solar panels will be installed at no upfront costs, while the electricity will be supplied under offtake deals with OE Solar for 15-20 years.
The new company is scheduled to be established on July 31, with Energy Pro and Osaka Gas Singapore holding 51% and 49% stakes, respectively. The JV’s activities will complement the goal of Daigas Group, a group brand of Osaka Gas, to expand its energy business overseas and put Southeast Asia at the top of its key growth regions list. The Daigas Group’s target is to have 1 GW of renewables by 2030.