"WHAUP" signs agreement with Continental Tyres (Thailand) to install 4.2 MW solar system, emphasizing its leadership in integrated solar system solutions

Bangkok – WHA Utilities & Power Plc will install a solar system for Continental Tyres (Thailand) Co., Ltd, the leading German producer of tyres, at WHA Eastern Seaboard Industrial Estate 4. With a capacity of 4.2 MW, installation is expected to be completed and to generate revenue in February 2021.

Dr. Niphon Bundechanan, Chief Executive Officer of WHA Utilities and Power Public Company Limited or ‘WHAUP’ reveals that the company has been successfully providing integrated solar rooftop installation services to customers both in and outside industrial estates, due mainly to its experience and expertise in the utilities and energy business, as well as its solid business structure. This emphasizes the company’s potential and investors’ confidence to expand their investments.

Recently, WHAUP signed a solar system installation agreement with Continental Tyres (Thailand) Co., Ltd, the leading tyre manufacturer from Germany, whose production facilities are located at WHA Eastern Seaboard Industrial Estate 4 in Rayong. The agreement covers the installation of solar systems at two factory buildings with a combined space of 27,400 square meters. The first factory will have a capacity of 482 KW and the second, 2,275 KW.

Additionally, the company will also install solar roof systems on its carpark, covering a total of 8,400 square meters with a generation capacity of 958 KW, and a floating solar farm on a 7,000 square meters pond, with a generation capacity of 475 KW. The solar energy installations in these four areas will generate a total of 4,190 KW or about 4.2 MW. The contract will be valid for 15 years and is due to be completed and ready to generate revenue by February 2021.

Once the 4.2 MW solar power system for Continental Tyres is completed, WHAUP’s electricity-generating capacity based on the shareholding will reach 596 MW. WHAUP expects this project to generate revenue of THB 16.3 million on average per year, or a total of THB 223 million for its 15-year service contract.

Meanwhile, Mr. Vignesh Devasenapathy, Plant Manager, Continental Tyres (Thailand) Co., Ltd., said the company decided to install the solar power systems to lower its production costs by up to THB 360 million during the entire 25-year lifespan of the system and to offset CO2 emissions. This will help reduce global warming and greenhouse effects, considered by the company as an important responsibility.

WHAUP has several solar power projects that have already began commercial operations (COD) and under construction with a total capacity of 47 MW. Ongoing projects under installation will have a combined capacity of 28 MW upon completion (COD) in Q3/2020 to Q1/2021. This shows the company’s potential to serve the interest of industrial estate customers looking for green energy, to lower costs, save energy and protect the environment.