Deal Establishes Framework for Southeast Asian Expansion
Sopogy, Inc., the world’s leading developer of micro concentrated solar power (MicroCSP) technologies, and MAI Development Co. Ltd., an established Thai conglomerate focusing on manufacturing, construction, real estate, energy and government services, signed a Memorandum of Understanding (MOU) for the development of an six-megawatt solar power plant in Bau Yai, Nakorn Ratchasima Province to provide electricity to the Provincial Electricity Authority of Thailand (PEA) in 2012.
“Sopogy’s proven solar technology with thermal energy storage and localized approach will help Thailand, Cambodia, Laos and Vietnam achieve clean energy goals and create local jobs”.
In addition, Sopogy has granted MAI Development exclusive distribution rights for MicroCSP systems in Thailand, Cambodia, Laos and Vietnam.
MAI Development holds 45 power purchase licenses to supply 360 megawatts of electricity produced from solar energy to the PEA for an estimated value of over $500 Million USD.
“Sopogy’s proven solar technology with thermal energy storage and localized approach will help Thailand, Cambodia, Laos and Vietnam achieve clean energy goals and create local jobs,” said Phatthanasret Chayutthanabun, President, MAI Development.
“We are delighted to be partnering with MAI Development,” said Darren T. Kimura, President and CEO of Sopogy. “MAI’s commitment to solar thermal energy, strong track record in Thailand, and excellent governmental relations within Southeast Asia make the company an ideal partner for Sopogy.”
Sopogy’s patented Micro Concentrated Solar Power (MicroCSP) technology uses mirrors and optics to intensify the heat energy from the sun creating thermal energy. Thermal energy is the fuel for efficient, renewable power generation, air conditioning, process heat, and desalination. Sopogy’s MicroCSP systems can generate 30% more energy than fixed-mounted photovoltaic panels, and unlike PV, MicroCSP collectors are easily recycled at end of life. Please visit www.sopogy.com for more information.
Tsurumi Hamasu, 808-237-2439