PEA and Mitr Phol Bio-Power Co., Ltd. signed an MOU to seek joint opportunities in the supply of renewable energy (RE) through the electricity grid system

Mr. Panumas Limsuwan, Deputy Governor of Provincial Electricity Authority (PEA), Mr. Buntoeng Vongkusolkit, Chairman of Mitr Phol Group, together with Mr. Verajet Vongkusolkit, Chief Executive Officer, Thai Sugar, Energy and New Business Group, Mitr Phol Group, signed a memorandum of understanding “Seeking Mutual Opportunities to Supply Renewable Energy (RE) through the Electricity Grid System” between the Provincial Electricity Authority (PEA) and Mitr Phol Bio-Power Co., Ltd., at Rattanakosin Conference Room, 23rd Floor, LED Building, Provincial Electricity Authority Head Office.

PEA has been collaborating with Mitr Phol Bio-Power Co., Ltd. to study and develop an operation model as a supplier and distributor of renewable energy through the electricity grid, which includes trading and exchange of Renewable Energy Certificates (RECs), Energy Attributed Certificates (EACs), or Carbon Credits, as well as related business models.

Mr. Panumas Limsuwan, Deputy Governor of Provincial Electricity Authority (PEA), says that the Seeking Mutual Opportunities to Supply Renewable Energy (RE) through the Electricity Grid System will facilitate clean energy purchase in Thailand as it unlocks greater accessibility to energy services for electricity users while also reducing costs and enhancing energy service performance. This step taken corresponds to a mission of the organization, which is to supply electricity and operate other related businesses to meet the needs of customers. PEA, as the organization that regulates and develops energy infrastructure, has foreseen the flourishing benefits in trading clean energy, be they boosting the country’s competitiveness or attracting other business groups from overseas that are in need of clean energy to invest in and build production bases in Thailand. The cooperation is thus considered a crucial tool in driving the country to achieve economic upgrades and accomplish the goals of carbon neutrality by 2050 and net zero emissions by 2065.

Mr. Buntoeng Vongkusolkit, Chairman of Mitr Phol Group, says “Mitr Phol Group places great emphasis on operating the business in pursuit of sustainable development and aims at becoming a net-zero organization by 2050 through six key operation guidelines, among which are sustainable modern farming, cutting of fresh sugarcane, reduction of sugarcane burning, which helps cut carbon emissions and fire incidents taking place close to the electricity grid, including the production and use of renewable energy in the production process. As Mitr Phol Group has engaged in developing the renewable energy business for over 20 years, it becomes today’s largest biomass power producer in the ASEAN region. In this regard, to promote renewable energy from materials derived from the Thai agricultural sector, I sincerely hope that this time cooperation with the Provincial Electricity Authority to seek mutual opportunities in supplying renewable energy today will fuel the opportunities for renewable energy in the industrial sector, which is a great contributor to the economy, while also creating sustainability. Additionally, it is another key approach to Thailand’s reduction of greenhouse gas emissions and enables the country to reach
Net Zero goal.”

This cooperation between PEA and Mitr Phol Bio-Power Co., Ltd., is a remarkable starting point that ensures accessibility to and usage of local renewable energy sources that are environmentally friendly for all sectors, bringing about changes and mitigating impacts caused by the global warming crisis.

People in the picture (From left to right)

  1. Pradit Fuangfoo Assistant Governor Provincial Electricity Authority (PEA)
  2. Mr. Panumas Limsuwan Deputy Governor of Provincial Electricity Authority (PEA)
  3. Mr. Buntoeng Vongkusolkit Chairman of Mitr Phol Group
  4. Mr. Verajet Vongkusolkit Chief Executive Officer, Thai Sugar, Energy and New Business Group, Mitr Phol Group