SET-listed SPCG Plc, Thailand’s largest capacity solar photovoltaic power operator, has announced a joint venture with Mitsubishi UFJ Lease & Finance Co (MUL) to provide rooftop solar panels to large factories and businesses. The partners are banking on the potential profitability of on-grid and off-grid solar rooftop cells in the Thai market, particularly for businesses operating large factories. Wandee Khunchornyakong, chairwoman and chief executive of SPCG, said each partner will bring separate expertise to integrate the skillsets of other companies. She said the tentative business model for the joint venture is to operate under a lease model with lease loan support from MUL, while Kyocera will provide the PV panels and SPCG will handle construction, operation and maintenance. Once the business plan is finished, the joint venture is expected to achieve lease orders during the second half of this year worth 50 megawatts, growing to 500MW within two years. The plan is to primarily market the PV panel leases to Japanese firms with factories or warehouses in Thailand.