Bosch Automotive Technologies (Thailand) and Cleantech Solar have inked a partnership for a 1 MW solar photovoltaic system (SPV) that will be built on-site at Bosch’s first SMART factory in Thailand. The factory is in Hemaraj at the Eastern Economic Corridor. A long-term power purchase agreement (PPA) has been signed between the two entities.
“Increasing our renewable energy consumption at our plant is an important step in achieving Bosch’s vision of carbon neutrality and strengthening our sustainability leadership in the country and the automotive industry at large. With Cleantech Solar’s proven local expertise and international experience in the solar industry, we are confident that our partnership will bear both environmental and economic benefits,” said Martin Knoss, Regional President of Bosch Powertrain Solutions.
According to the terms of the project, solar modules will be installed on the rooftop of Bosch’s Hemaraj factory. The area covered by the factory amounts to 10,000 square meters. This project is expected to avoid 13,300 tons of carbon dioxide emissions in this duration. This agreement will ensure that Bosch receives a long-term supply of electricity and will save a significant amount on electricity bills. The on-site SPV system will be financed, designed, built, operated, and maintained by Cleantech Solar throughout the PPA.
In April this year, Indian lead-acid battery manufacturer, Exide Industries (Exide), entered into three share subscription and shareholders agreements with renewable energy developer Cleantech Solar to install captive solar projects at its factories.
In a similar deal in November 2018, Prism Johnson Limited (formerly Prism Cement) entered into an agreement with Cleantech to acquire up to 30% equity stake in a special purpose vehicle which would be incorporated for setting up captive solar power projects of 22 MW capacity.
Image Credit: Cleantech Solar
Ramya Ranganath is an Associate Editor and Writer for Mercom Communications India. Before joining Mercom, Ramya worked as a Senior Editor at a digital media supply chain solutions company. Throughout her career, she has developed end-to-end content for various companies in a wide range of domains, including renewables. Ramya holds a bachelor’s degree in Mechanical Engineering from M.S. Ramaiah Institute of Technology and is passionate about environmental issues and permaculture.