Tokyo, 2017-Jul-20 — /EPR Retail News/ — Rakuten, Inc. and Banpu Public Company Limited today (JULY 18, 2017) announced that the two companies have reached agreement to form a comprehensive partnership in the fields of the electricity retail business and environmental values trading*1.
Under the agreement, Rakuten and Banpu will cooperate on the development of business models in the fields of negawatts*2 and environmental values trading, and also electricity retailing in Japan. By combining Banpu’s experience in the coal industry and power generation in the Asia Pacific region along with Rakuten’s know-how in the domestic electricity retail business and cutting-edge initiatives such as its private trading platform for environmental values and negawatts (planned for launch in fall this year) and IoT and other technologies, the two companies aim to develop the business, including cross-border projects between Japan and Thailand.
Banpu, a pioneering Asian energy company in Thailand operating coal, renewables and other energy businesses in the Asia Pacific region, listed Banpu Power Public Company Limited, its power generation subsidiary, on the Stock Exchange of Thailand in October 2016. Through this subsidiary, it operates solar power plants in Japan and overseas. In addition, Banpu plans to engage in the new business of energy retailing and is making efforts to acquire related knowledge and technology outside Thailand in Japan and elsewhere.
Rakuten established Rakuten Energy, which provides energy solution services centering on electricity, in June 2013. On February 21, 2017, Rakuten Energy was registered as a retail electricity provider with the Ministry of Economy, Trade and Industry’s (METI) Agency for Natural Resources and Energy (ANRE), and in April made a full-fledged entry into the electricity retail business. In addition, Rakuten Energy is also working on the development of a private trading platform for environmental values and negawatts (scheduled to begin operating this fall) and a Home Energy Management System (HEMS) utilizing IoT technology. Through the collaboration with Banpu both in Japan and overseas, Rakuten Energy expects to expand its customer base in the electricity retail industry.
Going forward Rakuten and Banpu will leverage their knowledge and expertise in the power generation and electricity retail business to contribute to healthy competition and growth in the energy markets of Japan and other Asian countries.
*1 “Environmental values” are the greenhouse gas reduction effects obtained through introducing renewable energy, energy conservation and other initiatives, which have been certified and given numerical values by the government or local municipalities.
*2 Added value that can be obtained as a result of viewing the surplus electrical energy arising from users’ conservation of energy as equivalent to electricity generated.
Company name: Banpu Public Company Limited
Business description: Coal mining, power generation and alternative energy sources
Location: 27th Floor, Thanapoom Tower, 1550 New Petchburi Road, Makkasan, Ratchathewi,
Bangkok 10400, Thailand
Company representative: Somruedee Chaimongkol, Director and Chief Executive Officer
Source: Rakuten Inc.