Hong Kong, Aug. 05, 2024 (GLOBE NEWSWIRE) -- 
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.
