Bangkok – WHA Utilities and Power Public Company Limited (WHAUP) has signed a Memorandum of Understanding (MOU) with Apex Circuit (Thailand) Co., Ltd. to jointly study the development of a 17-megawatt solar power project under a Direct Power Purchase Agreement (Direct PPA) and/or Third Party Access (TPA) model, paving the way to unlock greater access to clean energy for the industrial sector.
Mr. Akarin Prathuangsit Chief Executive Officer of WHA Utilities and Power Public Company Limited (WHAUP), revealed that the company has entered into an MOU with Apex Circuit (Thailand) Co., Ltd. to study the feasibility of developing a solar power project to supply electricity directly to the customer under a Direct PPA and/or through a TPA scheme, with a total installed capacity of 17 MW. The initiative aims to increase the use of renewable energy and support sustainable business operations in line with the Net Zero policies of both companies.
Apex Circuit (Thailand) Co., Ltd. is one of Thailand’s leading manufacturers of printed circuit boards (PCB) used in a wide range of electronic devices. As APEX’s manufacturing facility has high electricity demand but limited rooftop space for solar installation, WHAUP has proposed the Direct PPA and TPA model as a solution to enable the company to access clean energy without being constrained by on-site installation limitations. APEX has set a target to increase the share of clean energy to 50% by 2060 and reduce greenhouse gas (GHG) emissions by 5% by 2027.
The feasibility study under this agreement is expected to help unlock the limitation of rooftop solar installation space and create broader opportunities for industrial customers to access clean energy. It will also strengthen clean energy security, with power generated from the solar farm serving as an alternative source to complement the main electricity supply.
“This MOU marks a concrete step for both companies toward achieving our Net Zero and Carbon Neutrality goals by increasing the share of clean energy in the electronics industry. Today, clean energy is no longer only an internal policy for customers, but is increasingly being extended across the entire value chain—from upstream to downstream—to drive sustainability throughout the industry. As a result, clean energy has become an important factor in enhancing industrial competitiveness and retaining customers. This project can serve as a model for other industries, as it helps unlock one of the key limitations of solar adoption in factories—restricted installation space—allowing more industrial customers to access clean energy,” said Mr. Akarin.
Mr. Woody Wang, Chairman of Apex Circuit (Thailand) Co., Ltd., said: “APEX has chosen WHAUP as its partner in this study because of the company’s expertise, experience, and readiness in large-scale renewable energy development. These strengths will help support the successful implementation of the project and potentially establish a model for other industries. Today, clean energy has become an important factor in retaining customers in global markets, as supply chain partners in the electronics industry worldwide increasingly prioritize sustainable business practices in pursuit of future Net Zero goals.”
The project is currently in the feasibility study stage under the framework of the MOU. Both parties will jointly assess the technical, economic, and regulatory aspects to determine the most effective development model.
At the initial stage, the project is being studied in the form of a solar farm, which can generate more electricity than rooftop solar at the same installed capacity and offers strong potential to help industrial users access clean energy without being limited by rooftop space. If fully developed on a commercial basis, the project is expected to deliver average energy cost savings of approximately THB 34 million per year, or more than THB 850 million over the contract term, while reducing carbon dioxide emissions by more than 9,670 tons per year, or over 241,700 tons throughout the contract period.
This collaboration marks a strategic first step in developing a Direct PPA and TPA model outside industrial estates, with strong potential to unlock the limitation of rooftop solar installation space for factories and lay the foundation for a new pathway for Thailand’s manufacturing sector to access clean energy.
WHAUP believes this model will play an important role in upgrading the country’s clean energy structure and strengthening the competitiveness of Thai industry in a low-carbon economy. This is in line with the mission of WHA Group under the theme “WHA: Shape the Future for Thailand”, which is committed to developing sustainable energy infrastructure and creating new long-term opportunities for the Thai economy.
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