Thai Superblock Signs Deal for $798m Solar Project in Japan
A general view shows solar panels to produce renewable energy at the photovoltaic park in Les Mees, in the department of Alpes-de-Haute-Provence, southern France on March 31, 2015. (Reuters Photo/Jean-Paul Pelissier)
Bangkok. Thailand’s Superblock PCL said on Monday that it had signed a memorandum of understanding with Japan’s Energy Complex to develop a 300-megawatt (MW) solar farm in Japan at an estimated cost of 27 billion baht ($798.11 million).
Superblock will set up a subsidiary in Singapore to form a joint venture with its Japanese partner, with the Thai firm holding a 75 percent stake, Chairman Jormsup Lochaya told reporters.
The first 70 MW of capacity, to be located in Chiba and Fukuoka, is expected to begin commercial operation in late 2016, and the rest in 2017, Jormsup said.
Superblock is on track to achieve its target to have 500 MW of capacity operating commercially by the year-end, he said.
Superblock is among several Thai companies diversifying into solar power to benefit from a government drive to promote renewable energy in Thailand.
The company has said it planned to invest 30 billion baht this year on expanding its solar power business at home and overseas.
Reuters
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