July 23 (Renewables Now) - Thai solar power company SPCG Pcl (BKK:SPCG) has signed a pact with a unit of Thailand’s Provincial Electricity Authority (PEA) and two Japanese majors to cooperate in the field of rooftop solar photovoltaics (PV).
Under the terms of the newly signed memorandum of understanding (MoU), SPCG, PEA ENCOM International Co Ltd, Mitsubishi UFJ Lease & Finance Co Ltd (TYO:8593) and Kyocera Corp (TYO:6971) will set up a joint venture. Each of SPCG and Mitsubishi UFJ Lease & Finance will hold a 35% stake in the new firm, while PEA ENCOM has 20% and Kyocera owns 10%.
In the first phase of the project, the JV will serve Japanese customers or investors with established production bases in Thailand, according to the announcement.
Each member of the new venture has a different role, with SPCG taking responsibility for the provision of engineering, procurement and construction (EPC) services, as well as operation and maintenance. Mitsubishi UFJ Lease & Finance, in turn, will act as a consultant, while PEA ENCOM will support the JV in securing all needed licences and permits. Last but not least, Kyocera will supply solar panels for the installations.
The JV is expected to be established on July 31, 2019.