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| Plans to Produce 25MW in Initial Phase (COD by Early 2016), 300MW (THB300m Revenue) in Three Years |
BANGKOK, June 26, 2015 - (ACN Newswire) - Thai Solar Energy Pcl, or TSE, has decided to build overseas solar power plants with a total production capacity that will reach 100MW by 2016 and 300MW in three years, starting with 25MW solar-farm projects to be operated in cooperation with its partners in Japan. The firm expects to have the first commercial operation date early next year, and that the projects, once completed, will generate THB300 million in annual revenue.
Dr. Cathleen Maleenont, Chairman and Chief Executive Officer of Thai Solar Energy Public Company Limited, or TSE, a producer and supplier of solar power to the State, revealed the company's goal to invest in more solar power plants in Asia through TSE Group International Pte Ltd, its Singapore-incorporated subsidiary firm, to achieve overseas solar power production at 100MW by the end of 2016 and at 300MW within three years.
TSE has adopted a plan to enter the solar power plant market in Japan, where a large number of solar farm plants can be developed and continued government support is available for alternative energy projects. Projects will be invested in both directly and through partnership with local firms.
Recently, the company has reached agreements for solar power production projects with a total production capacity of 25MW with two Japanese partners, namely, Eco Solar Japan and Prospec Holding Inc. Under the agreement with Eco Solar Japan, it will build a solar farm with a production capacity of 13MW in Aomori City in the northernmost part of Honshu Island. It and Prospec Holding Inc will build solar farms with a total installed production capacity of 12MW in Ibaraki City in the northern area of Kanto region and Ishikawa City in the central region of the country.
THB2.5 billion will be spent for the first phase of development of solar farms in Japan. Construction will begin in the second half of 2015, and the first commercial operation date (COD) is expected to reach by early 2016. All the projects, once completed, will generate more than THB300 million in annual revenue.
"With our vast knowledge and sound financial condition, we have the potential, and are ready, to expand our solar power plant business in the Asian markets, including Japan, as a way to allow the business to grow exponentially and enable us to become a leading alternative energy firm in the region," said Dr. Maleenont.
Contact:
Thiyaporn ('Da') Sriadunphan
Tel: +66 (0) 2612 2081 #124
Mob: +66 08 7556 6974
Email: thiyaporn.s@mtmultimedia.com; comebackagains@hotmail.com
Topic: Press release summary
Source: Thai Solar Energy PCL
Sectors: Energy, Alternatives, Alternative Energy
https://www.acnnewswire.com
From the Asia Corporate News Network
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