This MOU outlines a framework for cooperation between PUNOI PATTANA CO., LTD. (Land Owner) and Sift Energy Holdings Sdn Bhd , a branch of China Sodium Times (Shenzhen) New Energy Co., Ltd. for the development of a 50 MW Solar PV project with an optional Battery Energy Storage System (BESS) on approximately 335 Rai of land in Chom Bueng District, Ratchaburi, Thailand, with a total project value of USD 72 million, equivalent to approximately RMB 500 million. The Developer is responsible for feasibility studies, securing a Power Purchase Agreement (PPA), financing, and construction, while the Land Owner provides the land and assists with permits. It establishes the mutual understanding and outlines the proposed framework for cooperation between the Parties concerning the development of the Project.
At the ceremony, PDA Manager TUI took the lead in elaborating on the core content of the agreement. "This partnership represents a new chapter for PDA," TUI stated. "By joining hands with Sift Energy and CSiT, we are not only venturing into the promising field of renewable energy but also creating a sustainable model that will fuel our philanthropic endeavors for years to come. The photovoltaic and energy storage project is more than just an infrastructure investment; it is a commitment to building a greener future while uplifting communities in need."
Mr. TK, the Managing Director of Sift Energy said. "We are honored to partner with PDA, an organization with such a distinguished track record of social impact," the representative said. "Together, we will leverage our technical and operational strengths to ensure the project's success, delivering clean energy and driving positive change in Thailand."
At the signing ceremony, both parties discussed the next steps for the work plan and committed to advancing the project progress. PDA Manager TUI stated that the sustainable profits from the project would be invested into their philanthropic endeavors.
About PDA:
Punoi Pattana Co., Ltd. is a Thai social enterprise closely associated with the Population and Community Development Association (PDA). It operates as a commercial arm to fund PDA’s non-profit initiatives in rural development, public health, and education. PDA is a distinctive non-governmental organization (NGO) founded by Mechai Viravaidya, a prominent figure in Thai politics who served in the cabinet four times over a more than two-decade-long public service career and left a significant mark in multiple key areas, , has long been the driving force behind PDA's mission. His vision of integrating sustainable development with social welfare laid the groundwork for this transformative project.
About CSiT:
CSiT is mainly specialize in sodium-ion battery cell&pack research and development, manufacturing and sales, based on R&D team with over 25 years experience in new energy industry, we also produce lithium ion battery packs for energy storage, e-mobility, consumer electronics, etc.