LOGOS Property, part of ESR Group, and Tokyo Electric Power Company Holdings, Incorporated are pleased to announce they have established a rooftop solar PV corporate PPA project in the Asia-Pacific region
Friday 22nd September 2023
LOGOS Property, part of ESR Group, and Tokyo Electric Power Company Holdings, Incorporated are pleased to announce they have established a rooftop solar PV corporate PPA* project in the Asia-Pacific region
The two companies are jointly investing in the newly-established LOGOS-TEPCO Renewables Joint Venture Pte. Ltd. (hereinafter referred to as, “LTJV”) established in August 2023, and through LTJV will install rooftop solar power generation facilities with a total capacity of 100 MW (100,000 kW), mainly in logistics warehouses, data centers, and other properties owned by LOGOS and its capital partners. In the future, LTJV will also invest in projects for customers of TEPCO HD.
LOGOS will utilize its knowledge as a real estate business operator and the properties it manages in various countries across APAC, while TEPCO HD will leverage its technological expertise and knowledge accumulated through its electricity business to improve renewable energy utilization rates in APAC.
At the next stage, both companies will aim to explore other renewable energy solutions such as energy storage, wind power, green hydrogen and others to offer CO2 net-zero properties to their customers, and contribute to achieving a carbon neutral world.
* PPA: Power Purchase Agreement
＜LOGOS-TEPCO Renewables Joint Venture Pte. Ltd Summary＞LOGOS-TEPCO Renewables is a joint venture owned by LOGOS Renewable, Inc, a 100% subsidiary of LOGOS, and TEPCO HD through its holding company, TEPCO Global Energy Pte., Ltd. (established in August 2023).Based in Singapore, LOGOS-TEPCO Renewables Joint Venture Pte., Ltd. will provide PV power facilities/equipment to consumers in the Asia-Pacific region and also engage in the power supply business through the execution of corporate power purchase agreements (PPA).
LOGOS, Co-CEO, Mr. Trent Iliffe
“Sustainability is a foundation of our business and today’s announcement is an exciting step forward on our journey to establishing a large, regional renewable business. It also builds on LOGOS and ESR Group’s ESG commitments which includes a 2030 Net Zero Carbon and decarbonization target.
“Our partnership with strong, likeminded businesses such as TEPCO HD is a critical part of this journey and we are excited to be working with them to deliver a cost-effective and scalable solar solution for our customers.”
Tokyo Electric Power Company Holdings, Inc, Executive Vice President,. Chikara Kojima
We believe that LOGOS, one of the largest real estate asset management company in APAC with a strong commitment to carbon neutral management, is an important partner for our business development in APAC, and we have decided to form a strategic partnership with them.
In implementing this project, we will collaborate and coordinate with our Singapore office, which is our business base in Southeast Asia, and our Hanoi office in Vietnam, which was newly established in July 2023. We will contribute with engineering, procurement, construction, and operation of solar power generation projects overseas and aim to build a high-quality supply chain with low cost.
Following the rooftop solar PPA project in Thailand*, we will work for realization of a clean, sustainable, and carbon-neutral society by providing not only electricity but also customer-oriented equipment services in this project.
* Participation in Corporate Solar PPA Project in Thailand and the first 3.8 MW project (April 4, 2022 press release)
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