SK Ecoplant's Singaporean affiliate, Thailand's No. 2 conglomerate to develop green power

Singapore's TES, an electronic waste management specialist and subsidiary of South Korea's SK Ecoplant Co., will jointly pursue the development of eco-friendly energy with leading Thai conglomerate Siam Cement Group (SCG).

SK Ecoplant on Monday said TES and SCG International signed a memorandum of understanding at the former's headquarters in Bangkok to build a collaboration model for an energy storage system (ESS) using solar power.

Acquired by the South Korean company in February last year, TES specializes in recycling electric and electronic waste and used batteries from electric vehicles (EVs).

SCG has grown into Thailand's No. 2 conglomerate through units in construction, petrochemicals, cement and paper.

The two sides are promoting the construction and demonstration of a renewable energy-based ESS system that stores electricity produced through solar power in ESS and uses it when needed.

In addition, TES will review the application of a model that reuses as ESS waste batteries whose lifespan has been exhausted after their use by SCG such as those for EVs and heavy equipment.

TES will analyze the stability and economics of ESS created from reusable batteries.

The company is also considering a recycling cooperation plan in which rare earth metals are extracted from waste batteries used and discarded by SCG for reuse as battery materials.

Write to Jong-Pil Park at jp@hankyung.com