Thailand’s property developer Sena Development PCL signed a partnership deal with U.S.-based First Solar and private equity firm Confidence Capital to develop a solar rooftop business in Thailand, it said on Tuesday.
Sena is one of several Thai companies diversifying into solar and renewable energy in Thailand to boost revenue growth.
“The outlook for the solar rooftop business is promising and can complement the company’s core property business. This expansion will provide a chance for the company to grow revenue,” Sena’s executive director Kessara Tanyalakpark told reporters.
First Solar will be the exclusive module supplier to Sena for one year and the Thai company aims to increase capacity of solar rooftops to 5 magawatts within 12 months, Kessara said
Sena planned to sell 150 units of new solar rooftop-installed houses in four projects in the third quarter of this year, she said, adding its home buyers and existing customers were initial targets for the rooftop project.
Sena also joined with power producer B.Grimm Power Ltd to invest in solar farm projects with capacity of 30-60 MW with an estimated cost of between 2.1-4.2 billion baht ($62-125 million, Kessara said. ($1 = 33.6800 baht) (Reporting by Khettiya Jittapong and Manunphattr Dhanananphorn, editing by David Evans)