Singapore-based SP Group (SP) and Thailand-based Banpu NEXT have partnered to boost development of renewable energy (RE) and smart city solutions across the Asia Pacific (APAC) region. Under the terms of the partnership, the two companies will explore the feasibility of district cooling systems, cross-border RE certificate (REC) platforms and smart city solutions to support the development of smart energy cities.
The partnership will combine both firms’ expertise and knowledge in clean and sustainable energy solutions to accelerate APAC’s decarbonisation initiatives. In addition, the partnership has been formed based on the expectation of a major market uptake of RE solutions in the region over the next five years.
The worldwide clean energy market is predicted to reach USD1,977.6 billion by 2030, with Asia-Pacific expected to have the largest share of the market with a compounded annual growth rate of 9.6 per cent over the next decade.
