KBank-EGAT-KBTG join forces to development of the ‘Punfai’ application
In a drive to create a green society, the Electricity Generation Authority of Thailand (EGAT) has worked with KASIKORNBANK (KBank) and KASIKORN Business-Technology Group (KBTG) in developing the “Punfai” application – Thailand’s first all-in-one energy exchange platform designed for both Thai household and business sectors.
The initiative aims to contribute to Thailand’s aspiration towards the net zero target. Key features of the “Punfai” app include smart assistant to help manage surplus energy, a menu for sending energy to anyone and a dashboard to show how much users have saved. This app can also link to financial innovations for broader coverage. The collaborative effort aims to encourage Thai people to embrace the green energy. Aside from helping to create a ‘green’ world, solar cell owners can efficiently use the surplus power generated from solar panels for other purposes. For instance, they can share surplus energy with others while also enjoying attractive returns. So doing not only allows solar cell owners to shorten their payback period but also helps the general public to access clean energy for home use at affordable prices. The “Punfai” application is expected to be launched on a trial basis in the third quarter of this year before further expanding to the general public later on.
Mr. Nutthavuttthi Chamchang, Senior Deputy Governor of the Electricity Generating Authority of Thailand (EGAT), said that this cooperation is aimed at developing EGAT’s application “EGAT Peer to Peer Energy Trading” or EGAT P2P under the “SolarPlus” project of KBank to become a new application “Punfai”. This new app will be easy to use and responsive to electricity requirements of the household and business sectors. Apart from its mission of generating and distributing electricity, EGAT is engaged with a new solution of electricity innovation in response to users’ demand in the digital era, through the development of energy management application and support to users’ greater access to clean energy.
Mr. Krit Jitjang, KBank President, said that, as global warming problems have adversely affected people’s ways of life and business operations, KBank is committed to promoting a green society in Thailand based on its GO GREEN Together concept while joining forces with other entities in driving Thailand to achieve the net zero target. Over the past year, KBank teamed with its business partners in launching various projects and financial campaigns to assist customers in gaining easier access to clean energy. Another important project for KBank today is the collaboration with EGAT in developing the “Punfai” application. This application will serve as an important jigsaw for Thailand’s green ecosystem. KBank is ready to leverage its knowledge, human resources and technological experiences in developing the “Punfai” application. Moreover, this application will be linked with financial innovations so that it will become a power exchange application that meets all needs of the users.
Mr. Chetaphan Siridanupath, Managing Director – KLabs, said that, “One of KBTG’s missions is to support the creation of a green society for sustainability. The company, therefore, is ready to use its technological and design expertise in developing the UX/UI (User Experience/User Interface) for the “Punfai” application as it is an important element in making the application more user-friendly.”
The “Punfai” application is a solar power management platform that allows users to share power surplus while also enjoying favorable returns. Aside from helping cut power bills, the application also allows users to get returns on investment at a faster rate and maximize the value of every unit of power generated, with no waste. Additionally, it helps support the country’s policy of promoting carbon footprint reductions. Outstanding features of the “Punfai” application are as follows:
Smart assistant to help manage surplus energy: The platform helps you assess your energy use and manage your surplus energy, allowing all power units to be utilized efficiently.
Send energy to anyone: Make the most of your surplus energy by sending it to your loved ones or family. You will also be able to donate it to various organizations in the future.
A dashboard to show how much you have saved: The platform allows you to know how much you have earned your returns and saved on your electricity bills.
The “Punfai” application is currently under development. Its trial use, under the Energy Regulatory Commission (ERC) regulatory sandbox, for the “SolarPlus” and EGAT projects is expected to begin in the third quarter of this year. This collaboration will eventually lead to a comprehensive green ecosystem for all Thai people.