TotalEnergies ENEOS to build solar rooftop system for Kinpo Group’s facility
By Alena Mae S. Flores – November 23, 2023, 8:10 pm
from manilastandard.net
TotalEnergies ENEOS signed a long-term agreement with Taiwanese firm Kinpo Group, a leading global electronics manufacturer, to provide a 11.9-megawatt (MW) solar rooftop system for the latter’s Batangas facility.
This is the first solar rooftop project of Kinpo Group in the Philippines that is seen to contribute to the group’s carbon neutrality strategy of constructing an in-house renewable energy supply.
More than 20,500 solar modules will be installed to generate 16,700 megawatt-hours (MWh) of renewable electricity annually, supplying 17 percent of the energy needs of its facility and reducing its carbon emissions by approximately 8,000 tons of CO2 per year.
TotalEnergies ENEOS will fully fund, install and operate the PV system in Lipa, while Kinpo Group will pay only for the electricity generated for 20 years, avoiding any upfront costs.
“Net zero is a difficult goal to achieve, but we must do it. The faster we can do this, the less harm there is to the earth, and only then, can we avoid a climate catastrophe. To achieve its net zero target by 2050, Kinpo Group has implemented its internal carbon pricing in 2023 and it will be continuously adjusted in the future to accelerate its low-carbon transition. Cooperating with TotalEnergies ENEOS will help advance its long-term strategy and promote a more sustainable business,” said Kinpo Group chief executive Andrew Chen.
TotalEnergies ENEOS Renewables Distributed Generation Asia director Elodie Renaud said the company is committed to helping more manufacturers like Kinpo Group lower their energy costs and carbon footprint through tailor-made renewable solutions.
The company is a 50/50 joint venture between TotalEnergies and ENEOS to develop onsite B2B solar distributed generation across Asia. It is headquartered in Singapore with a plan to develop 2,000 MW of decentralized solar capacity over the next five years.
