WHAUP Signs Joint Venture Agreement with Daiwa House to Set Up WHA DAIWA SOLAR to Strengthen Solar Energy Business in Thailand

WHA Utilities and Power Public Company Limited (WHAUP) has partnered with Daiwa House Industry Co., Ltd. (DHI) from Japan to establish a joint venture company, "WHA Daiwa Solar Co., Ltd.", to expand the solar energy business in Thailand.

Ms. Jareeporn Jarukornsakul, Chairman of the Executive Committee and Group Chief Executive Officer of WHA Corporation PCL, revealed that the collaboration between WHA Utilities and Power Public Company Limited (WHAUP) and Daiwa House Industry Co., Ltd. (DHI) from Japan is a strategic partnership aimed at driving the energy growth strategy of the WHA Group. The focus is on developing environmentally friendly energy solutions. This collaboration combines WHAUP's expertise in developing and managing solar power plants with DHI's strong network of Japanese companies in Thailand. Together, they will develop and invest in solar power plants to supply electricity to Japanese industrial factories in Thailand. This partnership further solidifies the strong business alliance between WHA and DHI.

Mr. Somkiat Masunthasuwun, Chief Executive Officer of WHA Utilities and Power Public Company Limited (WHAUP), added that WHAUP has recently established a joint venture company called WHA Daiwa Solar Co., Ltd. with a registered capital of 5 million baht. WHA Solar Co., Ltd., a subsidiary of WHAUP, holds 51% of the shares, while DHI Asia Investment PTE Ltd., a subsidiary of Daiwa House Industry Co., Ltd. (DHI), holds 49%. This joint venture aims to provide solar power services in promising areas, particularly in Thailand, to continuously serve customers both inside and outside WHA Group's industrial estates.

This collaboration between WHAUP and DHI is a key driver for expanding investments in renewable energy businesses, both within and outside WHA industrial estates, encompassing both domestic and international markets. The company aims to reach a renewable energy generation capacity of 1,200 MW by 2029, which will help reduce greenhouse gas emissions by approximately 683,000 tons of carbon dioxide equivalent per year. This aligns with WHA's mission: "WE SHAPE THE FUTURE" and the WHA Group's sustainability goals to achieve net-zero emissions by 2050.

Source:

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