SHIFT catalysed funding commitments of US$ 25 million to launch pilot projects in Thailand that will lead to investment in battery charging/swapping stations with a coverage area of 100 square kilometers, the deployment of 10,000 e-bikes , and 22,000 shared/swappable batteries. Every battery is expected to create lifetime GHG emission reduction of 6 tCO2 from fuel avoidance and 30 tCO2 from facilitating the use of a higher share of variable solar power in the power grid.
SHIFT Asia is the first digital and transformational carbon finance platform bringing together private and public stakeholders to advance green mobility and power sector infrastructure. SHIFT drives the convergence of mobility and the power sector by creating assets that are shared across sector boundaries, thus improving capacity and increasing efficiency with a focus on swappable batteries for 2-wheelers, the mode of transport that is widely used across Southeast Asia and is applicable to rural and urban areas alike, as well as small island grids.
The business model is being piloted in Thailand and is expected to scale at least tenfold before 2030. SHIFT Asia is also preparing for implementation in Laos, followed by Indonesia, Vietnam and The Philippines.
Initiator: South Pole Group (Thailand)
Current core partners (open platform): SWAG EV (Singapore), DASHPoint (Thailand), Thailand GHG Organization
Current Financing Partners: EESL India, Climate Cent Foundation (Switzerland), - Current Implementation Partners: Chosen Energy/EV Laos - Associated Partners: Electric Vehicle Association of Thailand (EVAT), Asia Institute of Technology, Bangkok Blue Green Alliance, River City Bangkok & The Creative District.