Finetech Co., Ltd. (City of Yokohama, Midori Ward*) *Location at the time of the project

1 Business

Supplying electricity through the rooftop installation of solar power generation systems for factories

2 Country, region (city, etc.)

The Kingdom of Thailand (Bangkok metropolitan area)

3 Contribution to SDGs

4 Project Results

(1)Urban issues

Bangkok, in the Kingdom of Thailand, has been developing economically and is becoming a major city in the Southeast Asia region, and at the same time, its greenhouse gas (GHG) emissions have been showing an increasing trend. Additionally, in 2011, the city experienced large-scale flooding, which was considered to be an effect of global warming, thus climate change countermeasures are an important urban issue for the city.

In 2013, the City of Yokohama concluded a memorandum of understanding (MOU) on city-to-city technical cooperation on sustainable urban development with Bangkok Metropolitan Administration (BMA) and cooperated to formulate the Bangkok Master Plan on Climate Change 2013–2023. With the support of the Japan International Cooperation Agency (JICA), the master plan was created in fiscal year 2015. The master plan covers the following sectors: Transport, Energy, Solid Waste and wastewater, Urban Green Planning, and mitigation. The City of Yokohama offered its knowledge in respect of each sector and this was reflected in the contents of the master plan.

While supporting the formulation of the master plan, in coalition with companies in Yokohama, the City of Yokohama cooperated to create projects to lower carbon emissions in the area covered by the Bangkok Metropolitan Administration (BMA). In fiscal year 2014, in coalition with companies in Yokohama, the City of Yokohama supported a JCM Feasibility Studies through City-to-City Collaboration of the Ministry of the Environment mainly on energy-saving, waste and sewage. As part of the feasibility study, the city supported business matching and promoted the creation of new businesses among private companies.

(2)Urban solutions of Finetech

Through the feasibility study, Finetech expanded its network connections with private sector companies in Bangkok. By utilizing its renewable energy technologies, Finetech established a solar power generation business with a local enterprise and received a subsidy through Financing Programme for JCM (Joint Crediting Mechanism) of the Ministry of the Environment. In fiscal year 2018, the construction of the solar power generation system was completed.

A 1.0-MW solar power generation system was installed on each rooftop of the main factories operated by two Bangkok companies so that the system could substitute a part of the electricity supplied by the Electricity Generating Authority of Thailand (EGAT). The plan is to reduce the amount of electric power generated by thermal power generation by 2,680,483.4 kwh/year. This reduction in electric power consumption is equivalent to a reduction in GHG emissions of 844 tCO2/year. In order to implement the solar power generation system, Finetech and the two companies in Bangkok created a global consortium. By utilizing the JCM facility investment subsidy provided by the Ministry of the Environment, which is a public subsidy for investment in facilities to reduce GHG emissions, the time needed to recoup the overall investment can be shortened.

By utilizing its experiences in this project, Finetech will continue in its efforts to expand its solar power generation business, including its energy management system and its solar power generation system with a solar-tracking mechanism, in Thailand and neighboring countries.

(3)Business expansion into Sri Lanka utilizing the network built in Bangkok

Finetech is advancing its business expansion in Bangkok, leveraging the achievements from the aforementioned JCM (Joint Crediting Mechanism) equipment subsidy program. In 2023, the company participated as a consultant in a rooftop solar power generation project at a hospital facility in central Bangkok. Additionally, in response to the exclusion of solar power projects from the JCM equipment subsidy program in Thailand, Finetech began expanding its business beyond Thailand. In this process, they utilized networks established through workshops and other events held as part of the urban partnership project between the City of Yokohama and Bangkok Metropolitan Administration (BMA). Collaborating with business partners such as the Japanese company Shibata Shoji and the Sri Lankan renewable energy giant WindForce, FineTech worked on developing projects in Sri Lanka. Finetech reflects, saying, “Through activities in the urban partnership project between the City of Yokohama and BMA, our network has expanded, and we’ve started receiving much more information”.

The Sri Lankan government has set goals, including reducing greenhouse gas (GHG) emissions by 14.5% by 2030, achieving a 70% share of renewable energy in electricity generation, attaining carbon neutrality by 2050, and not constructing new or additional coal-fired power plants.

Finetech participated as a consultant and led the formation of a JCM (Joint Crediting Mechanism) equipment subsidy project to implement a 13.5 MW solar power generation project in the Kebitigollewa area of the North-Central Province of Sri Lanka. This project is expected to reduce greenhouse gas emissions by 6,511 tons of CO2 per year, contributing to the achievement of Sri Lanka’s government goals.

5 Reference

Introduction to Finetech’s JCM Business by the Global Environment Centre (GEC) Foundation

13.5MW Solar Power Project in Kebithigollewa, North Central Province