PAN Signs EPA for US$30 Billion Solar Initiative Benefiting 6 Million Thai Farmers.
05 Agosto 2024 - 6:05AM
Summary: Power-All Networks
Limited (PAN), a subsidiary of Foxconn, has announced the
signing of an Exclusive Partnership Agreement (EPA) for a
transformative US$30 billion Digital Bond Solar Roof Project in
Thailand.
In the latest progress, PAN signs an EPA for a
$30 billion Solar Initiative better for 6 million Thai farmers.
This initiative is set to benefit 6 million farmer households and
set standards for sustainable development and renewable energy
adoption in the region.
The co-signers of the EPA are Capital Trust
Group Limited, the issuer of the US$ 30 billion digital bond or
blockchain bond for this project, and the Thai Farmer Tapioca
Association (TFTA), the exclusive mandate to recruit and qualify 6
million farmer households to join the CTG-Solar project. The TFTA
membership includes various types of organizations, such as 150
cooperatives, 1,450 community enterprises, and 2,000 village funds.
Additionally, the network consists of 3.5 million tapioca farmers
who cultivate tapioca in 55 provinces, covering a plantation area
of 11 million rai (equivalent to 4,300,000 acres).
This partnership aims to install solar roofs on
the homes of 6 million farmers across Thailand, providing them with
a reliable and sustainable energy source. The project is expected
to revolutionize the agricultural landscape by reducing energy
costs, increasing energy independence, and promoting environmental
sustainability.
The project aligns with Thailand's national
energy policy, which focuses on increasing the share of renewable
energy in the country's energy mix. In addition, the US$30 billion
required for the project will be raised through the issuance of
digital bond by CTG. This method provides a new avenue for
investment as well as ensures transparency and efficiency in fund
management.
By focusing on the environmental impact and
prospects, the company’s new initiative will significantly reduce
greenhouse gas emissions, increase the coverage of plantation areas
outside the irrigation, and solve the droughts caused by the El
Niño weather event, allowing farmers to potentially double yields.
This will contribute to global efforts to combat climate change and
reduce the carbon footprint of Thailand's agricultural sector.
Moreover, the project sets a precedent for similar initiatives in
other countries.
Furthermore, Power-All Networks, CTG, the Thai
Farmer Tapioca Association (TFTA), and its affiliates e.g. CLMV
Holding Co., Ltd. are committed to engaging with the local
communities and stakeholders throughout the project's lifecycle.
This collaborative approach will help build trust and ensure the
smooth implementation of the project.
About Power-All Networks
Ltd.:
Power-All Networks Limited (PAN) of Hong Kong,
founded by Steve L.W. Hui, is “a new world engineering and
research" subsidiary of Foxconn since 2012. It has been a prolific
innovator since its inception in 2003 (Inter-Cloud, BlockChain,
real-world assets (RWAs) Tokenization and Fintech etc.) Foxconn,
under Hon Hai (its parent company), with US$ 222.5 billion in
revenue, is ranked #27 as of 8/2/23 in the Fortune Global 500.
According to Foxconn's (Hon Hai Precision Industry) latest
financial reports (March 2024), the company has $40.87 billion in
cash and cash equivalents. PAN will play a technical support role
for CTG in addressing institutional Digital Bond investors and will
assign professionals to be the project's co-managers and will bring
its technological prowess in renewable energy to the table,
ensuring the successful implementation of solar roof
installations.
Additionally, the company is poised to work
closely with CTG and other stakeholders to bring this visionary
project to fruition, paving the way for a brighter, greener future
for Thailand and beyond.
For further information,
visit: https://www.powerallnetwork.com/post/epa-letter Disclaimer: The
information provided in this press release is not a solicitation
for investment, nor is it intended as investment advice, financial
advice, or trading advice. It is strongly recommended you practice
due diligence, including consultation with a professional financial
advisor, before investing in or trading securities.
Steve Hui
stevehui(at)powerallnetwork.com