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In a significant step toward accelerating Southeast Asia’s clean energy transition, GAC Energy Technology (Thailand) Co., Ltd. and leading Thai renewable energy firm PowerVault signed an ecological cooperation agreement in Bangkok. The partnership aims to co-develop integrated energy solutions focused on solar, storage, and electric vehicle (EV) charging infrastructure. The collaboration reflects both companies’ shared commitment to advancing Thailand’s national energy goals of achieving 50% new energy vehicle (NEV) penetration by 2035 and 70% renewable energy adoption by 2050. The agreement also positions the two firms as key players in reshaping the region’s clean energy landscape through innovation, investment, and ecosystem development. Supporting Thailand’s NEV and Renewable Energy Goals GAC Energy, a core subsidiary of China’s GAC Group under its NEV strategy, is spearheading the group’s international expansion through clean energy technology deployment in Thailand. To date, GAC Energy has installed 27 EV charging stations across the country and plans to expand to 52 by 2025. A larger rollout will follow, targeting 200 supercharging stations in 100 cities by 2027. In a major infrastructure milestone, GAC will also establish Thailand’s first multi-level EV battery service center by mid-2025. Located in Bangkok, the center will offer advanced cell, module, and pack-level battery repairs, laying the foundation for a robust regional after-sales network. PowerVault, known for its expertise in solar and smart grid integration, will bring to the table its experience in distributed energy solutions and energy storage. The company is also involved in project development through its joint venture, Sino Power Co., Ltd., with listed Thai firm STP&I Public Company Limited, focusing on Power Purchase Agreements (PPA). Key Areas of Cooperation The partnership agreement outlines collaboration in three core areas: 1. Deployment of Solar-Storage-Charging Projects The first phase of a 150 kW solar-storage-charging demonstration project has been completed at GAC AION’s factory site in Rayong. With growing demand driven by EV models like the AION V and AION UT, the companies plan to scale up deployment across GAC’s production and logistics operations. PowerVault will lead investment and asset management for upcoming projects, while GAC Energy will provide technical infrastructure and operational management platforms. The approach aims to reduce grid pressure while offering lower-cost green electricity to end-users, including industrial plants. 2. Technology Innovation and Grid Integration Both companies will explore deeper technological collaboration to enhance integration between EVs, charging infrastructure, and the power grid. GAC Energy is set to introduce ultra-fast 3C charging in Thailand starting in Q2 2025. Joint efforts will also focus on V2X (Vehicle-to-Everything) applications, designed to improve energy interaction between vehicles and the national grid. The initiative supports Thailand’s ambitions to digitalize and modernize its power infrastructure, using data-driven approaches for smarter grid management. 3. Expansion of a Local Green Energy Ecosystem Drawing on GAC’s network of more than 100 dealerships and its manufacturing base in Southeast Asia, the partnership aims to build scalable, replicable green energy models. By analyzing consumer electricity usage and aligning energy solutions with both B2B and B2C markets, the two companies will work to deepen ecosystem cooperation. Joint participation in public sector tenders is also planned, with a focus on deploying green electricity solutions in public transportation, industrial zones, and heavy-duty logistics. Strengthening Regional Clean Energy Leadership The GAC-PowerVault agreement marks a strategic advancement in regional green energy deployment, aligning corporate goals with national policy frameworks. The cooperation is expected to generate long-term benefits for Thailand’s energy infrastructure while setting a precedent for cross-sector partnerships in Southeast Asia’s transition to a low-carbon economy. |
