Japanese giant Sharp Corp (TYO:6753) announced today that it has finalised an agreement to set up a joint venture (JV) dedicated to selling solar power to private companies in Thailand.
The JV, S-Solar Generation Thailand Co Ltd, was created by a partnership between Sharp's subsidiary Sharp Solar Solution Asia Co Ltd (SSSA) and Japanese leasing services company Fuyo General Lease Co Ltd (TYO:8424).
The Bangkok-based entity will install solar power systems on customers' facilities, namely rooftops, at no upfront cost to the clients. The arrays will operate under power purchase agreements (PPAs), with Sharp promising lower rates compared to those for grid-sourced electricity.
Sharp Solar Solution Asia will install and maintain the solar panels, the company said.
The JV already secured the first customer, an unnamed appliances factory, which will start benefiting from its own set of solar arrays in March 2022.
S-Solar Generation is the first corporate-focused power retail business for Sharp or one of its subsidiaries, according to the company.