TOA Paint has signed a binding, long-term agreement with TotalEnergies to provide a 2.7MWp solar PV (photovoltaic) rooftop and power 27% of the needs of TOA's group factories with green power.
With a strong commitment to conduct business responsibly, TOA needed a clean energy solution to drive their sustainability targets and chose TotalEnergies, known for their technical expertise in deploying renewable energy solutions around the world even for highly complex industrial sites.
Under the agreement, TotalEnergies will install and operate the photovoltaic (PV) solar system while TOA will pay for the electricity generated for 15 years, without taking any upfront investments.
With around 5,022 of modules installed, the PV system will generate around 3,970 Kilowatt-hours (KWh) of renewable electricity annually in total, and TOA will significantly increase cost savings and reduce carbon footprint, with an estimate total of 2,780 tons of CO2 emissions avoided annually. This is equivalent to removing 460 cars from the road or planting 27,800 trees annually.
TOA has been focused on the importance of sustainability development in the Environmental, Social and Governance (ESG) aspects by investing in environmentally friendly technologies to gradually transition to renewable energy.
Mr. Jatuphat Tangkaravakoon, Chief Executive Officer TOA Paint (Thailand) Public Company Limited said, "For over 57 years, TOA runs its business with good faith and responsibility for any impact relating to its business operation throughout supply chain, as well as designing the systematic environmental management to ensure the effectiveness and realizing the necessity of smart solutions, namely the Clean Power Plan which reduce carbon pollution also known as renewable energy. We firmly believe that not only do these solutions give us a competitive advantage, they impact on our business such as stable energy costs, sustainable energy, reduces the emissions and improves our business reputation."
Gavin Adda, Head of TotalEnergies Renewables Distributed Generation Asia said, "As the leading provider of solar solutions in the region, we are honored to be trusted by TOA to deliver cost savings and reduce carbon footprint. TotalEnergies provides its customers peace of mind from a technical, financial and commercial perspective. We are committed to being a long-term energy partner for TOA and hope to collaborate further in the future."