UOB Thailand has recently signed a Power Purchase Agreement (PPA) with Chow Energy, a leading solar energy company in Thailand, to install solar roof systems at UOB office buildings and selective branches across the country. Through this partnership, the Bank will remove 200,000 tonnes of greenhouse gas emissions annually in its business operations by harnessing on-site renewable energy from the sun. This is equivalent to nearly 8,000 tree seedlings planted.
The collaboration is part of the UOB Thailand's decarbonisation roadmap from 2023 to 2030 for energy conservation at its business premises. Chow Energy will install and maintain solar rooftop systems at UOB Sathorn building, UOB Phetkasem building and 24 selected branches of which building structure allows for such installation. Electricity generation from the systems will help the Bank reduce electricity costs while contributing to environmental care.
Ms Piyaporn Ratanaprasartporn, Country Head of Channels and Digitalisation, UOB Thailand said "Addressing the environmental impact of our operations is a top priority, and we have established clear objectives to mitigate it. As our bank grows, we are unwavering in our commitment to achieving annual carbon neutrality and enhancing decarbonisation efforts within our real estate assets. Currently, UOB branches account for approximately 40 per cent of UOB Thailand's energy consumption.[1] This initiative with Chow Energy aims to significantly lower our Scope 2 [2] greenhouse gas emissions, potentially achieving 90 per cent reduction at selected branches and align with our dedication to maintaining carbon neutrality in our business operations."
Mr Anavin Jiratomsiri, Chief Executive Officer, Chow Steel Industries Public Company Limited or CHOW, said "We are excited to work closely with UOB to strengthen their sustainability agenda and mitigate environmental impact. This partnership underscores our commitment to provide clean and renewable alternative to traditional energy sources and align with our vision to drive environmental sustainability. By installing our advanced solar energy systems for selected UOB's branches and premises, the Bank can significantly increase the proportion of electricity use from renewable energy and speed up the reduction of greenhouse gas emissions throughout their operations."
By the end of this year, the Bank will install solar roof systems at UOB Phetkasem building and 13 selected branches across key provinces including Bangkok, Chiang Rai, Khon Kaen, Nakorn Pathom, Nakorn Ratchasima, Nonthaburi, Phuket, Rayong, Surin, and Ubon Ratchathani, and will complete the installation for remaining 11 branch premises and at UOB Sathorn building in 2025.