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Azbil installs renewable energy equipment at its manufacturing subsidiary in Thailand, reducing greenhouse gasses associated with operations

We would like to announce that Azbil Production (Thailand) Co., Ltd. (Head Office: Chon Buri Province, Kingdom of Thailand: President & CEO: Takashi Yano; hereinafter “Azbil Production Thailand”) a manufacturing subsidiary of Azbil Corporation (Head Office: 2-7-3 Marunouchi, Chiyoda-ku; President & Group CEO Kiyohiro Yamamoto; hereinafter “Azbil”) has signed a power purchase agreement (hereinafter “PPA^*1”) with a joint venture company^*2 financed by Fuyo General Lease Co., Ltd. (Head Office: 5-1-1 Kojimachi, Chiyoda-ku; President & CEO: Hiroaki Oda; hereinafter “Fuyo Lease”).

Under the signed PPA service, SSGT will install nearly 624kW of solar power generation equipment on Azbil Production Thailand’s factory roof, allowing Azbil Production Thailand to leverage renewable energy generated from solar power in its operations, while paying energy bills based on electricity amounts to SSGT. This means that 10% of the electricity used in the relevant factory building will be provided by renewable energy sources.

(Service Scheme)

^*1PPA：Power Purchase Agreement: The PPA operator installs, operates, and maintains a solar power generation facility on the customer's premises. The electricity generated is purchased by the customer.
^*2Fuyo Lease and Sharp Solar Solutions Asia Co., Ltd. (HQ: Bangkok, Kingdom of Thailand; President & CEO: Masami Kurosawa; hereinafter “SSSA”) established the joint venture in July 2021: S-Solar Generation Thailand Co., Ltd (HQ: Bangkok, Kingdom of Thailand; President & CEO: Inada Hideyuki; hereinafter “SSGT”).

The azbil Group contributes to solving energy issues faced by society and customers through its automation business and is formulating policy and plans for decarbonization based on its “2050 Long-Term Vision for Reducing Greenhouse Gas Emissions.”

The azbil Group has also set “reduction of greenhouse gas emissions from its own business activities” as a material measure in its medium-term plan (FY2021-FY2024). The Group has been working to reduce greenhouse gas emissions by procuring 100% of the electricity used at mother factories, the Shonan Factory, and Hadano Distribution Center in Japan, from renewable energy sources, and by installing solar power generation equipment at group company factory, including other R&D facilities.
This PPA service was also concluded as an effort to contribute to the reduction of greenhouse gas emissions and achieve carbon neutrality. In the future, there is a plan to increase the number of solar power generation equipment installed in conjunction with the expansion of operations at the third factory building, which completed in April 2024.

Under the medium-term management plan “Fuyo Shared Value 2026,” which started in fiscal 2022, the Fuyo Lease Group aims to achieve sustainable growth as a corporate group by simultaneously solving social issues and realizing economic value through the practice of Creating Shared Value (CSV).
Fuyo Lease has positioned “energy environment” as one of the growth drivers for concentrated investment of management resources, and are actively involved in the renewable energy industry both in Japan and internationally, offering our clients financial support and a range of solutions as they move toward energy saving and the conversion to renewable energy.

By supporting several projects that help realize a decarbonized society, such as the utilization of renewable energy, the azbil Group and Fuyo Lease Group will continue to contribute to the development of a sustainable society.

Solar Power Generation System Overiew

^*3 dc (direct current): Refers to direct current

* Posted information is accurate as of the date of announcement.