Rooftop solar array. Featured Image: Ralf Gosch/Shutterstock.com
Thai property developer Sena Development PCL (BKK:SENA) seeks to expand into the solar power industry and for this reason has formed a couple of alliances, including a partnership with US company First Solar Inc (NASDAQ:FSLR).
Sena has signed a deal with the US solar panel supplier and private equity firm Confidence Capital that would help it create a rooftop solar business in Thailand, the company announced on Tuesday. First Solar will act as the exclusive panel supplier to Sena for a period of 12 months.
A rooftop solar business would complement the Thai firm’s core operations and generate additional revenues, executive director Kessara Tanyalakpark told reporters, as cited by Reuters. According to her, Sena’s goal is to raise the capacity of solar rooftops to 5 MW within one year.
In the meantime, Sena has also teamed up with power producer B Grimm Power Ltd to invest in solar projects of between 30 MW and 60 MW in size and an estimated cost in the range of THB 2.1 billion (USD 62.3m/EUR 55.3m) and THB 4.2 billion, Kessara added.
(THB 10 = USD 0.297/EUR 0.263)