WHAUP Signs Prinx Chengshan Tire Solar Rooftop Project The Largest Solar Rooftop Project in ASEAN

Photo Caption: Miss Jareeporn Jarukornsakul (4^th from left) Chairman and Group CEO of WHA Corporation Pcl and Chairman of the Board of Directors of WHA Utilities and Power Plc, together with Dr. Niphon Bundechanan (3^rd from left), CEO of WHA Utilities and Power Plc, and Mr. Zhang You Gan (4^th from right), Managing Director of Prinx Chengshan Tire (Thailand) Co., Ltd. a subsidiary of Chengshan Group from China, jointly signed an agreement to install a solar energy system on the factory’s rooftop, covering a total area of 229,000 square meters. Located in WHA Eastern Seaboard Industrial Estate 3 (WHA ESIE 3) in the Eastern Economic Corridor (EEC), this project once completed will be the biggest solar rooftop installation in ASEAN, with a combined electricity-generating capacity of 19.44 MW.

Bangkok – WHA Utilities and Power Plc (WHAUP) signed a Power Purchase Agreement (PPA) on a solar rooftop project with Prinx Chengshan Tire (Thailand) Co., Ltd., the leading car tire producer and distributor from China, emphasizing WHAUP’s potential to provide integrated energy and utilities services to customers in industrial estates. 

Dr. Niphon Bundechanan, CEO of WHA Utilities and Power Plc said this solar rooftop system at Prinx Chengshan’s facility will be the largest of its kind in ASEAN with a total rooftop area of 229,000 sq.m. Electricity costs are expected to be reduced by approximately THB 1,750 million and CO2 emissions offset by 366,000 tons for the 25-year contract period. CEO Niphon Bundechanan disclosed that the project once completed will be the largest solar rooftop system in ASEAN with an electricity-generating capacity of 19.44 MW. This highlights WHAUP’s potential in providing fully integrated solar rooftop installation services and underlines the trust of Prinx Chengshan, which relocated its tire production to WHA Eastern Seaboard Industrial Estate 3 on a 280-rai plot in 2018.

The project will cover an area of 219,000 sq. m. of factory rooftop and 10,000 sq. m. of carpark area, representing a total electricity generating capacity of 19.44 MW. This will enhance energy stability and reduce electricity cost for the customer, create innovation to increase business opportunities, and help safeguard the environment by reducing global warming.

The solar system installation is expected to be completed by 2022, bringing the total electricity-generating capacity of WHAUP to 635 MW, based on its shareholding equity. The company expects to generate revenue from this project at an average of around THB 40 million per year throughout the 25-year contract period. This will make the solar rooftop business expansion to grow as planned at 300 MW by 2023.

Mr. Zhang You Gan, Managing Director of Prinx Chengshan Tire (Thailand) Co., Ltd. a subsidiary of Chengshan Group, said “I am delighted to sign the Solar Rooftop Power Purchase Agreement with WHA Utilities and Power Plc, which will enhance energy stability and reduce production cost for our factory. I’m confident that this project will benefit both parties and promote environmental protection in the long term,”

Furthermore, this project will help the company achieve its longstanding goal of energy cost reduction to lessen its impact on the ecosystem. It will reduce electricity expense throughout the 25-year lifespan by up to THB 1,750 million, or THB 70 million per year on average. At the same time, it will offset CO2 emissions by up to 366,000 tons, in line with environment policies to reduce global warming and greenhouse effect.