Bangkok, 24 February 2022 – TOA Paint, a market leader in paint manufacturing in Samut Prakan, Thailand, 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.
TOA Paint has been a leader in the paint, coating, and total solutions in the construction industry in both Thailand and ASEAN Economic Community for more than half a century. With a strong commitment to conducting 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 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 estimated 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 sustainable 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 the 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, the 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.”
TotalEnergies, renewables, and electricity
As part of its ambition to get to net-zero by 2050, TotalEnergies is building a portfolio of activities in renewables and electricity. At the end of September 2021, TotalEnergies’ gross renewable electricity generation capacity is 10 GW. TotalEnergies will continue to expand this business to reach 35 GW of gross production capacity from renewable sources by 2025, and then 100 GW by 2030 with the objective of being among the world’s top 5 producers of electricity from wind and solar energy.
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About TotalEnergies Renewables Distributed Generation for Asia
TotalEnergies Renewables Distributed Generation is a major international provider of fully integrated distributed solar energy solutions, including solar-powered rooftops, carports, and ground-mounted solar power plants, with a portfolio of over 600 MW of projects in development and operation worldwide. Active in Asia since 2018, TotalEnergies Renewables Distributed Generation is one of the largest and fastest players in renewable energy distributed generation in the region for commercial and industrial customers, with a portfolio of over 100 MW of projects in development and operation. https://solar.totalenergies.asia
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables, and electricity. Our 105,000 employees are committed to energy that is ever more affordable, clean, reliable, and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
About TOA
TOA is a leader in the paint, coating and total solutions in the construction industry in both Thailand and the ASEAN Economic Community for more than half a century, which manufactures and distributes decorative and non-decorative paint and coating products with the aim of fortifying its leading position to achieve continued top-of-mind brand through the advanced technology to create high-quality and innovative products including service solutions to fulfill customer satisfaction and expectation with “Total Solution”.
Cautionary Note
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