Yingli Green Energy Holding, the world’s largest photovoltaic modules manufacturer, has recently announced that its wholly owned subsidiary Yingli Green Energy Singapore Company Pte. Limited (Yingli Singapore) has signed a memorandum of understanding (MoU) with Huawei, Solventina Solar Energy, and Kasikornbank to provide turnkey solar power solutions for power plants and distributed generation projects throughout Thailand.
According to Ms. Angie Koh, Managing Director of Yingli Singapore, this collaboration would help to accelerate solar power expansion in Thailand by simplifying PV deployment in Thailand, making it easier for power suppliers and consumers to access solar power.
Yingli Solar already has a strong presence in the growing Thailand solar market through its different subsidiaries. Earlier this year in May, Yingli announced that it would provide engineering, procurement, and construction services to the Electricity Generating Authority of Thailand (EGAT) for a 5 MW solar power plant in Thailand as a member of a four-party consortium.
The Thai government has established a target of 3 GW for total solar power capacity by 2021. The country plans to meet at least 20% of its energy demand with renewable resources by 2022. Several policies are already in place to support investments in renewables, including tax incentives and benefits. Provisional Electricity Authority of Thailand offers a fixed purchase price for solar power which is composed of the average electricity price plus an additional premium or “Adder” by way of remuneration.
Thailand is one of the fastest emerging solar power markets in the Asia-Pacific region. By utilising country’s vast year-round high solar radiation and immense government support, projects like this are helping the nation to create jobs, reduce dependence on fossil fuels, and serve as a model for other emerging Asian countries seeking to expand renewable energy generation.
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