UOB (Thai) activates Asia’s first solar industry ecosystem in Thailand

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UOB (Thai) activates Asia’s first solar industry ecosystem in Thailand 

By The Nation

 

 

U-Solar, Asia’s first solar industry ecosystem, has been launched by United Overseas Bank (Thai) in Thailand to power the development and adoption of renewable energy across the country. 

 

Through the U-Solar programme, activated on Wednesday (February 5), the bank connects businesses and consumers across the entire solar power value chain and helps each in their transition to a low-carbon economy. The programme is also available in Indonesia, Malaysia and Singapore.

 

In supporting the growth of the solar power industry, UOB provides solar project developers with solutions in green financing, project loans and portfolio financing, as well as cash management services. 

 

For Engineering, Procurement Construction (EPC) contractors, UOB offers end-to-end contract-based financing solutions, from bid bonds and letters of credit issuance to performance guarantees and working capital facilities.

 

To promote the adoption of solar power by the end-users which include companies and consumers seeking solar power solutions for their factories, offices or homes, U-Solar offers a one-stop shop for them to plug easily into the services provided by UOB’s partners across the region. 

 

They can also tap UOB’s financing solutions for the installation, operation and maintenance of solar power systems based on their business or personal needs in making the switch to solar power.

 

The launch in Thailand was officiated by Sontirat Sontijirawong, Minister of Energy and Anupap Kuvinichkul, Senior Director of Banking Supervision Department, Bank of Thailand.

 

The government has been continuously promoting renewable energy in Thailand. It aims to increase the share of the country’s total renewable energy power generation from 10 per cent in 2019 to 37 per cent or 20,755 megawatt (MW) in 2037. The Ministry of Energy has previously implemented several schemes, such as the feed-in premium and feed-in tariff scheme, to stimulate investments in the renewable energy sector.

 

Sontirat said: "The Ministry of Energy recently launched the 700MW community-based Power Plant programme to promote power generation from renewable energy resources, including biomass, biogas, as well as hybrid systems comprising bio-based, wind and solar energy.

 

This programme is aligned with the Ministry of Energy’s Energy for All policy that aims to enable the local community, especially low-income residents to participate in the production of renewable power sources for additional income. Through the programme, we not only accelerate the development and deployment of renewable energy but also help to boost the livelihood of local residents”.

 

Tan Choon Hin, Chief Executive Officer and President (UOB Thai), said: “With the Thai government driving the growth of the renewable energy sector, we believe the U-Solar programme can help contribute to the progress of the solar power industry in Thailand. By encouraging the development and the adoption of solar power among local corporates and consumers, we can play a part in building a greener future for the country”.

 

UOB (Thai) has partnered with leading integrated energy solutions company in Asia-Pacific such as Banpu Public Company Limited, and EPC contractors including Bangkok Solar Power and KG Solar, to offer businesses and home owners installation, commissioning, operations and after-sales service packages for solar power systems.

 

To help with the costs of installing and maintaining the system, UOB (Thai) will provide businesses solar equipment financing up to Bt45 million and home owners zero per cent interest installment plan for up to 24 months.

 

Source: https://www.nationthailand.com/business/30381663

 

-- © Copyright The Nation Thailand 2020-02-06

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[nobodysfriend]

Solar is the solution to many actual problems ( pollution ) , even Hydrogen for fuel cells can be produced by solar energy ,  conversion rate is 2 : 1 , but if solar cells would be everywhere , no problem ...

[Krataiboy]

Astonishing that a country where the sun shines most of the time has made so little use of solar power. If all new buildings - commercial as well as residential were automatically fitted with solar panels, we would need fewer polluting power stations and everyone would benefit.

[BritManToo]

2 minutes ago, Krataiboy said:

Astonishing that a country where the sun shines most of the time has made so little use of solar power. If all new buildings - commercial as well as residential were automatically fitted with solar panels, we would need fewer polluting power stations and everyone would benefit.

And at night when everyone switches on their air-con, lights and TV ..... what do you think would happen?

[ThaiBunny]

2 minutes ago, Krataiboy said:

Astonishing that a country where the sun shines most of the time has made so little use of solar power. If all new buildings - commercial as well as residential were automatically fitted with solar panels, we would need fewer polluting power stations and everyone would benefit.

Given the per kWh domestic tariff and the capital cost of solar panels, inverter etc. what's the average pay-back period for a Thai household?

[scorecard]

13 minutes ago, BritManToo said:

And at night when everyone switches on their air-con, lights and TV ..... what do you think would happen?

 Seems to be lots of development in the area of better cheaper batteries. IMHO this aspect will continue to see good innovations because it could be the key to big income. 

Edited February 6, 2020 by scorecard

[Krataiboy]

2 hours ago, ThaiBunny said:

Given the per kWh domestic tariff and the capital cost of solar panels, inverter etc. what's the average pay-back period for a Thai household?

Sure U-solar would be delighted to enlighten you.

[Krataiboy]

2 hours ago, BritManToo said:

And at night when everyone switches on their air-con, lights and TV ..... what do you think would happen?

The same as what happens now. The air-con, lights and TV come on.

[sirineou]

3 hours ago, BritManToo said:

And at night when everyone switches on their air-con, lights and TV ..... what do you think would happen?

Same thing that happens now only less of it?

[BritManToo]

13 minutes ago, sirineou said:

Same thing that happens now only less of it?

The EU are facing a power disaster as they have put so much into solar and wind power, then taken so many coal/oil power stations offline. The greens are likely to destroy our civilisation, if our woman don't destroy it first by refusing to breed with us, or the savages our governments import to drive our wages down don't kill us first. 

Edited February 6, 2020 by BritManToo

[sirineou]

2 minutes ago, BritManToo said:

The EU are facing a power disaster as they have put so much into solar and wind power, then taken so many coal/oil power stations offline. The greens are likely to destroy our civilisation, if our woman don't destroy it first by refusing to breed with us. 

 Get some roofies. Problem solved civilization survives.

[OttoPollmann]

3 hours ago, Krataiboy said:

Astonishing that a country where the sun shines most of the time has made so little use of solar power. If all new buildings - commercial as well as residential were automatically fitted with solar panels, we would need fewer polluting power stations and everyone would benefit.

that sounds easy but in reality it is really difficult

First of all you need an adequate Grid to handle this power supply. Then you need power substations to distribute this supply evenly across the country and handle the over supply or lack of supply at peak time. Therefore, your backup power stations must be constantly switching ON/OFF on demand.

How you will ensure the protection of the Grid in case of maintenance work? If you have uncontrolled input of supply.

Therefore, every household must be connected to the nearest power substation to get cut off if needed. This is a big logistical task. Just ask these adjoining contries to Germany how happy they are with all the over supply of wind and solar power  

[Krataiboy]

5 hours ago, OttoPollmann said:

that sounds easy but in reality it is really difficult

First of all you need an adequate Grid to handle this power supply. Then you need power substations to distribute this supply evenly across the country and handle the over supply or lack of supply at peak time. Therefore, your backup power stations must be constantly switching ON/OFF on demand.

How you will ensure the protection of the Grid in case of maintenance work? If you have uncontrolled input of supply.

Therefore, every household must be connected to the nearest power substation to get cut off if needed. This is a big logistical task. Just ask these adjoining contries to Germany how happy they are with all the over supply of wind and solar power  

Obviously, I have soaked up too much climate crisis propaganda on renewables!