SET-listed Sena Development Plc has partnered with Eight Solar Co to invest in solar farms and producing rooftop solar panels, expecting to tap rising demand for renewable energy.
Sena executive director Kessara Thanyalakpark said a joint venture, Sena Solar Energy, had been formed with 46% owned by Sena, 44% by Eight Solar Co and 10% owned by small shareholders.
Sena Solar Energy has a registered capital of 500 million baht and will focus on the solar farm and solar panel business, expecting to have total power-generating capacity of 100 megawatts over the next three years.
The new joint venture plans to join the government’s next round of solar licence bidding and expects to get a licence to produce 30 MW of power from the solar farm, which it aims to invest in.
The Energy Regulatory Commission is expected to start providing licences to develop and operate solar farms within the next couple of months.
Besides, the company expects to land deals to provide rooftop solar panels at the household and community level, aiming to generate a combined capacity of 20 MW over the next few years.
Sena Development Plc earlier partnered with B.Grimm to develop a solar farm project. The joint venture plans to invest 70 million baht in developing a solar farm with a capacity of 46.5 MW.
“Sena Solar Energy expects to have a total power-generating capacity of 100 MW within the next three years. We expect both partners to remain interested in solar power projects in the future and we hope that we can cooperate with the partners again in the future,” she said.
Sutham Olarnkijanan, chief financial officer, said Sena Solar Energy is in talks with several government agencies as well as agriculture cooperatives to provide rooftop solar panels to them.