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.
About Thai Solar Energy Pcl
Thai Solar Energy Public Company Limited (“TSE”) was established in 2008 in Bangkok, Thailand. TSE is the first company in Southeast Asia to have effectively applied solar energy commercially. The Company supplies electricity to the government following the policies of Energy Policy and Planning Office, Ministry of Energy to encourage production and consumption of renewable energy, and distributes electricity to Provincial Electricity Authority (PEA) and Metropolitan Electricity Authority (MEA).
TSE was established by Thai national shareholders who together share a common goal of pushing the technological envelope for clean renewable energy, and harnessing it for the benefit of those communities that surrounds us. It was listed on the SET’s MAI (Market for Alternative Investment) on Oct 30, 2014, as SET:TSE. For more information please visit www.thaisolarenergy.com.