Next SP Group-Banpu pact envisions smart energy market in APAC
Singapore-based utility organization SP Group (SP) and Thailand’s Banpu NEXT will work together to develop sustainable energy and smart city solutions across Thailand and the Asia-Pacific region.
The partnership will consolidate the expertise and strengths of both companies in clean and sustainable energy solutions to boost urban decarbonization efforts in the region. In addition, the partnership is formed in anticipation of a huge market uptake of clean energy solutions in the region over the next five years.
According to the latest market research, the global clean energy market is expected to reach US $ 1,977.6 billion by 2030 and the Asia-Pacific region is expected to hold the highest market share over the next decade. with a compound annual growth rate of 9.6% per annum.
With their latest partnership, SP Group and Banpu Next will explore the applications of district cooling systems, cross-border Renewable Energy Certificates (REC) platform and smart city solutions to support the development of sustainable and smart energy cities in the region.
“Banpu NEXT and SP Group share a similar vision to popularize clean energy and deliver smart, technology-driven energy solutions for sustainability to enhance business and economic development and contribute to the sustainable improvement of people’s lives. people, ”said Somruedee Chaimongkol, CEO of Banpu PCL. and Banpu NEXT.
Banpu NEXT specializes in providing smart energy solutions in Asia-Pacific. Its technology portfolio encompasses smart data analytics, smart power generation, smart energy storage, smart energy use and smart circular economy. The company has solar parks in China, Japan, the United States and Australia; wind farms in Vietnam; energy storage activity in Singapore; and smart city development projects in the Thai provinces of Phuket and Chonburi.
Together with SP Group, the company plans to further explore business opportunities in the region in three key areas: energy management service for district cooling systems, cross-border renewable energy certificate platform and the development of smart cities.
“These three areas of collaboration aim to achieve more efficient management of clean energy in system design and development in order to bring even better energy efficiency results to customers of both partners. Customers can therefore expect lower energy costs, higher profits and better economy of scale. By combining Banpu NEXT’s expertise in designing clean energy solutions and digital platforms with the SP Group’s regional business network, we will add new strengths to the activities of both partners, ”said Chaimongkol.
Combined with Banpu NEXT’s large and diverse portfolio of sustainable energy companies and breakthrough projects in renewable energy, energy storage systems, energy management system, smart energy solutions and cities and smart campuses, the strategic partnership will strengthen the ambitions of the two companies in terms of clean energy. . This includes an improved business ecosystem, new competitive advantages, an expanded business network, and larger regional portfolios, to meet the clean energy demands of the future.
“We are delighted to partner with Banpu NEXT to support the clean energy ambitions of Thailand and the Asia-Pacific region. Our combined expertise in developing and implementing smart and clean energy solutions will offer cities and districts more low carbon and high efficiency solutions to support Contributing to the region’s clean energy transition is also integral of our vision to strengthen the future of energy and build a sustainable future for all, ”said Stanley Huang, Managing Director of SP Group.
SP Group designed, built and operates the world’s largest underground district cooling network in the Marina Bay district of Singapore, which has been operational since 2006, supplying buildings in the district with an energy efficient air conditioning solution to save energy. energy and costs.
SP’s district cooling expertise and technology has since been adopted for Raffles City Chongqing in China – an iconic integrated development comprising a shopping mall, hotel, office towers and residences. SP also launched one of the world’s first blockchain-powered CER platforms to help customers meet their sustainability goals by ensuring that the electricity they consume comes from renewable sources.