PEA ENCOM - BCPG Jointly Establish “Thai Digital Energy Development”
Forging Ahead in the World of Transformation. Moving Closer to Consumers through a Sustainable Way of New Energy Utilization.
PEA ENCOM International Co., Ltd., a subsidiary of the Provincial Electricity Authority (PEA) and BCPG Plc., jointly announced the establishment of Thai Digital Energy Development Co., Ltd. to develop clean energy business in response to the changing world by using innovation to help manage the business. Investments will be in power production from renewable energy business, energy saving and energy management system, and other businesses in digital energy.
Mr. Khemmarat Sartpreecha, PEA ENCOM Acting Managing Director said that PEA ENCOM was established as a state enterprise for the purpose of engaging in businesses related to energy investment.
With the increasing demand for clean energy, both at the global and national levels, coupled with the declining cost of renewable energy production, consumers now have more access to renewable energy. Additionally, the transformation of the power business, from centralized to decentralized, the use of digital technology, and the introduction of innovation such as Blockchain in Peer-to-Peer energy trading, have made PEA realize the need to change along with the global transformation.
In March 2018, PEA signed a memorandum of understanding on Premium Energy Management to develop new business in response with business transformation trend with BCPG Plc., Asia-Pacific's leading renewable energy company and one of the global pioneers to use world-class innovation in energy business.
The two organizations have conducted studies jointly and recognized potentials in developing clean energy business together. The Board of Directors of PEA ENCOM International had therefore approved of the establishment of Thai Digital Energy Development, a joint venture with BCPG Plc., with the following objectives:
- To promote power production from renewable energy and promote new digital business through PEA Hero Platform developed by PEA.
- To promote energy management and energy as a service business among public and private sectors, as well as state enterprises.
- To develop total solutions for digital energy products to respond to consumers' needs.
Mr. Bundit Sapianchai, BCPG President and CEO said "In parallel with growth through expansion of various types of remewable energy power plants, BCPG is also focusing on retail business by offering choices to consumers so that they can produce electricity out of clean energy by themselves at lower cost. BCPG's Board of Directors had approved the joint venture investment with PEA ENCOM International based on business opportunities of which business plans were laid out; for example.
- Aggregator business – P2P energy trading through Blockchain technology.
- Smart City Project, based on the project to install Solar Rooftop and energy management and energy trading system among buildings in University of Chiangmai of which the installation has already started, with total installed capacity of 12 MW.
- Projects with real estate developers such as Sansiri Plc. and SC Asset Plc. who have already been in business partnership with BCPG.
Mr. Khemmarat further mentioned "I'm proud and confident with Thai Digital Energy Development, as it is formed based on PEA's stability and BCPG's agility and has a competent management and employees with business focus. This will help enhance better service to consumers for PEA and PEA ENCOM – from offering choices in using clean energy to using technology to respond to the increasing demand of consumers who are no longer just consumers, but prosumers – to create smart community with innovation which helps make electricity something that is closer to their hearts as they can use application and smart devices to produce and manage clean energy by themselves."
"BCPG believes in Democratization of Energy – that everyone has freedom to use and manage their own energy. In this joint venture, we will continue working closely with Power Ledger, our digital business partner. Together we will create a business landscape whereby innovation plays a crucial part in a sustainable way of new energy utilization. As such, in an environment where there is no surplus or spare output, we can help promote a circular economy framework. Our energy management service will also help save energy for the benefits of the consumers and of the country as a whole.", added Mr. Bundit.
With an initial registered capital of 200 Million Baht, Thai Digital Energy Development's initial investment plans include decentralized distribution renewable energy business and digital business for energy industry. For 2019, the first project to be undertaken is the 12 MW Smart University project with Chiang Mai university.