Collaboration in accelerating Green Transformation (GX) in ASEAN region

Sumitomo Corporation has entered into a Memorandum of Understanding (“MOU”) with EGAT international (“EGATi”), for the purpose of collaborating towards acceleration of Green Transformation (GX) in ASEAN region.

EGATi is a subsidiary of Electricity Generating Authority of Thailand (“EGAT”), a state-owned enterprise in Thailand, with the role of running global energy business outside Thailand. EGAT and Sumitomo Corporation have been contributing together towards the stable energy supply in Thailand through long-term collaboration in power related business. In order to achieve the common goal of Green Transformation in the ASEAN region, EGATi and Sumitomo agreed under this strategic MOU to explore and develop renewable power businesses together in the ASEAN region.

In ASEAN region, the stable energy supply demand has risen sharply in line with the population and economic growth. Simultaneously, the initiatives for decreasing GHG emission with considering the situation for each region are strongly required. Given such fact, the Japanese Government and other Asian countries have established the Asia Zero Emission Community (“AZEC”) concept to accelerate the decarbonization and energy transition in Asia. Sumitomo Corporation is following this AZEC concept as a private company, and is promoting Asia’s energy transition including this MOU.

Since the 1970s, Sumitomo Corporation has been involved in power supply development projects at the request of host countries with the cooperation of the Japanese Government, to contribute to the industrial development of each country. At the same time, Sumitomo Corporation has been focusing on renewable energy from an early stage and has been involved in more than 100 projects worldwide till today. Based on the experience and achievements accumulated over more than half a century, Sumitomo Corporation will contribute to the social and economic development through further expansion of its initiatives in accelerating GX on a global scale.

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