BANGKOK: Thailand’s Global Power Synergy Pcl (GPSC) said on Monday it will develop a 20.8-megawatt (MW) solar project with a budget of 3.15 billion baht ($89 million) in the northern Japan city of Ichinoseki, its first renewable investment in the country.
GPSC, the flagship power business of top Thai energy firm PTT Pcl, said in a statement that it continues to seek opportunities to invest in solar power in Japan.
GPSC has said it aimed to expand its power generating capacity to 2,800 MW by 2019 from 1,917 MW. The Thai utility is seeking a loan, which will account for 80 percent of the budget, it said. The project will adopt a new technology from Germany’s Conergy, it added.
The company also signed a power-purchasing agreement with Japan’s Tohoku Electric Power at the feed-in tariff rate of 40 yen ($0.36) per unit, equivalent to 12.6 baht per unit throughout the 20-year contract. The project, located in Iwate Prefecture, is due to start commercial operation by the fourth quarter of 2017, the Thai firm said.
