Constant Energy signs one of its largest corporate Power Purchase Agreements (PPA), a substantial 12-megawatt peak (MWp) solar rooftop project deal, with Midea Refrigeration Equipment (Thailand), a subsidiary of the widely recognized Fortune 500 company, Midea Group. This agreement was made in collaboration with Anhui Midea Hekang Electric Power Engineering.
Midea Group is a global leader in home appliance manufacturing. Headquartered in Southern China, the company employs over 166,000 people across more than 200 countries, including Thailand.
Through this partnership, solar installations at Midea’s factory in Chonburi Province, Thailand, will be completed across three buildings and one car park, adhering to Constant Energy’s international health and safety standards. Midea will enjoy significant economic benefits from reduced electricity costs while also lowering their carbon footprint, with an estimated reduction in carbon emissions of 130,000 tons over the project’s lifespan. With this cooperative effort, Constant Energy is taking an essential step toward supporting Midea Group accomplish their ESG goals.
Franck Constant, Chief Executive Officer at Constant Energy, commented: “Midea Group’s household air-conditioning factory in Nansha, Guangzhou, China, has already garnered acclaim as a ‘Lighthouse’ in manufacturing by the World Economic Forum’s Global Lighthouse Network. We are certain that this collaboration will allow the factory in Thailand to follow in these influential footsteps, setting new standards for outstanding achievement and efficiency.”
One of the standout achievements of this agreement is Constant Energy’s successful alignment of the PPA to ensure equivalent advantages for both parties. Recognizing the differences in industrial practices between China and Thailand, Constant Energy has meticulously developed a fair and beneficial agreement, resulting in a win-win situation guaranteeing that all involved parties benefit significantly.
This occasion marks an important milestone for Constant Energy as they celebrate one of the biggest corporate Power Purchase Agreements with a commercial and industrial off taker client. This result also highlights their expanding number of Chinese clients demonstrating that cultural and linguistic differences are not impediments to cooperation within Constant Energy. Looking forward, Constant Energy aims to create a positive impact throughout Midea’s supply chain.
Constant Energy and Midea Refrigeration Equipment (Thailand) representatives at the PPA signing ceremony held at the Midea Refrigeration Equipment (Thailand) Head Office.
More information can be found at https://constantenergy.net/