Krungsri and Schneider Electric promote energy efficiency in SMEs

They will develop advanced energy technologies alongside financial solutions in Thailand.

Krungsri (Bank of Ayudhya) has partnered with Schneider Electric to promote adoption of energy efficient technologies amongst Thailand’s entrepreneurs, especially small and medium enterprises (SMEs).

Krungsri and Schneider Electric said that they are combining their strengths—Schneider Electric’s expertise in energy management and automation, and Krungsri’s capabilities in sustainable finance—to develop and deliver advanced energy technologies along with financial solutions that address Thailand’s energy and environmental challenges.

“With the goal of becoming The Leading Sustainable and Regional Bank, Krungsri places strong emphasis on promoting ESG practices amongst Thai businesses,” said Pairote Cheunkrut, Krungsri chief strategy officer, in a press release.

“This is particularly by supporting SMEs, burdened by electricity costs of 10–30%, depending on the business type, in their adaptation to the evolving energy and environmental transitions,” Cheunkrut said.

The two organizations will work together through two key areas of focus: first, decarbonization and ecosystem development; and sustainable finance solutions.

In the latter, Krungsri will offer financial support to enable SMEs to invest in energy-efficient technologies, reduce carbon emissions, and enhance long-term business sustainability, it said.