Osaka Gas to Set Up Solar Power JV in Thailand

Economy

Osaka, July 3 (Jiji Press)--Osaka Gas Co. <9532> said Wednesday it has agreed with Bangkok-based Energy Pro Corp. to establish a solar power joint venture in Thailand.

The new company, provisionally named OE Solar Co., will install photovoltaic cells on roofs of shopping centers, factories and other buildings mainly in the Thai capital.

OE Solar will be owned 51 pct by Energy Pro and 49 pct by Osaka Gas Singapore Pte., a subsidiary of Osaka Gas. The amount of the investment was not disclosed.

Osaka Gas aims to expand its overseas energy business through the new company, to be set up on July 31.

OE Solar will aim to install solar power generation equipment with a combined output capacity of 50,000 kilowatts over the coming three years.

[Copyright The Jiji Press, Ltd.]

Jiji Press