STPI Partners with PowerVault to Establish Joint Venture “Sinopower” to Venture into Renewable Energy, Automated Warehouses, and Vending Machines
STPI (STP&I Public Company Limited) has announced the approval of the establishment of a joint venture company, Sinopower Co., Ltd., with a registered capital of 60 million baht. The company will be jointly invested by PowerVault (Thailand) Co., Ltd. (PV) in a 60% and 40% shareholding ratio, respectively, aiming to expand its investment scope and support the growth of the renewable energy market, including Solar Roof PPA and Solar Farm. This venture will also help diversify operational risks for the company.
Sinopower Co., Ltd. will focus on renewable energy, initially emphasizing solar power generation, and will also engage in the automated warehouse business and vending machine services. The company is expected to start generating commercial revenue in the fourth quarter of 2022.