BATANGAS, Philippines, Nov. 17, 2023 /PRNewswire/ -- TotalEnergies ENEOS has signed a long-term agreement with Kinpo Group, a leading global electronics manufacturer, to provide a 11.9 megawatt-peak (MWp) solar rooftop photovoltaic (PV) system for its facility in Batangas. This project, as the first solar rooftop project of Kinpo Group in the Philippines, will contribute to the group's carbon neutrality strategy of constructing an in-house renewable energy supply.
With over 20,500 solar modules to be installed, the PV system will generate 16,700 megawatt-hours (MWh) of renewable electricity annually, supplying 17% of the energy needs of its facility and reducing its carbon emissions by approximately 8,000 tonnes of CO2 per year, equivalent to planting 120,000 trees.
Under the agreement, TotalEnergies ENEOS will fully fund, install and operate the PV system while Kinpo Group will pay only for the electricity generated for 20 years, avoiding any upfront costs.
"Net zero is a difficult goal to achieve, but we must do it. The faster we can do this, the less harm there is to the earth, and only then, can we avoid a climate catastrophe. To achieve its net zero target by 2050, Kinpo Group has implemented its internal carbon pricing in 2023 and it will be continuously adjusted in the future to accelerate its low-carbon transition. Cooperating with TotalEnergies ENEOS will help advance its long-term strategy and promote a more sustainable business.", said Mr. Andrew Chen, CEO of Kinpo Group.
"We are delighted to be trusted by Kinpo Group to provide their facility with renewable energy and advancing their carbon neutrality strategy and long-term development plan. As a leading solar service provider for commercial and industrial businesses, TotalEnergies ENEOS is committed to helping more ODM/OEM and EMS manufacturers like Kinpo Group in lowering their energy costs and carbon footprint through our tailor-made renewable solutions. We look forward to fostering a lasting energy partnership with Kinpo Group and exploring further collaboration in the future.", said Elodie Renaud, Director of TotalEnergies ENEOS Renewables Distributed Generation Asia.
About TotalEnergies ENEOS Renewables Distributed Generation Asia Pte. Ltd.
The company is a 50/50 joint venture between TotalEnergies and ENEOS to develop onsite B2B solar distributed generation across Asia. It is headquartered in Singapore with a plan to develop 2 GW of decentralized solar capacity over the next five years. https://solar.totalenergies.asia
TotalEnergies and renewables electricity
As part of its ambition to get to net zero by 2050, TotalEnergies is building a portfolio of activities in electricity and renewables. At the end of Q2 2023, TotalEnergies' gross renewable electricity generation installed capacity was 19 GW. TotalEnergies will continue to expand this business to reach 35 GW of gross production capacity from renewable sources and storage 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. https://renewables.totalenergies.com/en
ENEOS Corporation and renewables electricity
ENEOS operates over 20 solar power plants in Japan and are also participating in renewable energy projects in the United States, Australia, and Vietnam. Furthermore, ENEOS is actively engaged in power generation projects using biomass, hydroelectric power, wind power, etc. This joint venture is ENEOS' first overseas renewable energy project using distributed power sources.
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more 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 ENEOS Corporation
ENEOS Group has developed businesses in the energy and nonferrous metals segments, from upstream to downstream. The Group's envisioned goals for 2040 are: becoming one of the most prominent and internationally competitive energy and materials company groups in Asia, creating value by transforming our current business structure, and contributing to the development of a low-carbon, recycling-oriented society with the pursuit of carbon-neutral status in its own CO2 emissions. ENEOS Corporation, one of the principal operating companies in the Group, is contributing to achievement of the Group's envisioned goals through a broad range of energy businesses.
About Kinpo Group
Founded in 1973, Kinpo Group is a Taiwan-based world leader in electronic manufacturing services (EMS), original design manufacturing (ODM). Its subsidiaries include Kinpo Electronics, Cal-Comp Electronics (Thailand) PCL, AcBel Polytech, and CastleNet, with a global footprint in the US, China, Thailand, Malaysia, Singapore, Brazil, Mexico, and the Philippines.
Cautionary Note TotalEnergies
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Cautionary Note ENEOS Corporation
The terms "ENEOS", "ENEOS Group" in this document are used to designate ENEOS Corporation and the consolidated entities that are directly or indirectly controlled by ENEOS Corporation. This document contains certain forward-looking statements. Actual results may differ materially from those reflected in any forward-looking statement due to various factors, which include, but are not limited to, the following: (1) macroeconomic conditions and changes in the competitive environment in the energy, resources, and materials industries; (2) the impact of COVID-19 on economic activity; (3) changes in laws and regulations; and (4) risks related to litigation and other legal proceedings.