Thai Solar Energy Plans 300 MW Solar PV Capacity In Japan
Global interest in Japan’s renewable energy sector, specifically the solar power market, continues to strengthen with a major developer from Thailand looking to boost its footprint in the land of the rising sun.
Thai Solar Energy has announced that it will set up 300 MW worth of solar power capacity in Japan over the next 3 years. The company will start with the implementation of a 25 MW solar power plant, then expand the installed capacity to 100 MW by the end of 2016, which will eventually be increased to 300 MW.
Thai Solar Energy claims to be “the first company in Southeast Asia to have effectively applied solar energy commercially.” The company is moving into Japan as the government policies support development of renewable energy projects and a large number of solar power projects are already under construction.
The 300 MW capacity will be set up directly as well as through partnership with Japanese companies. Thai Solar Energy has entered contracts with Japanese firms Eco Solar Japan and Prospec Holding to develop 25 MW solar power capacity. As per the agreements, Eco Solar Japan will set up 13 MW project in Honshu Island while Prospec Holding will implement 12 MW capacity in Ibaraki City and Ishikawa City.
Thai Solar Energy will invest $74 million for the development of this 25 MW solar power capacity. The company expects an annual revenue of close to $9 million once the entire 300 MW capacity is commissioned and operational after 3 years.
Over the last few months several international companies have entered the Japanese solar power market. SPI Solar recently formed a joint venture with a Japanese company to set up 500 MW capacity; GE Energy Financial Services acquired stakes in several solar power projects across Japan; California-based yieldco Pattern Energy acquired majority stake in Tokyo-based renewable energy project developer & operator Green Power Investment Corporation.
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