Green Earth Power (Thailand), a privately owned Thai company, is entering the solar rooftop market in Japan to add to its existing US$285-million solar farm project in Myanmar.
Solar panels on a rooftop in Japan. BLOOMBERG
Managing director Supasit Skontanarat said the company has formed a joint venture with Asahi Shokuhin Co to develop rooftop solar at Asahi's 14 warehouses across Japan with a combined capacity of 20 megawatts.
The project, costing $50 million, began construction two weeks ago.
The electricity will be sold to Japanese utilities at 42 yen (13 baht) per kilowatt-hour.
Through its wholly owned subsidiary GEC (Japan), Green Earth Power has been awarded a procurement and construction contract to build a 20-MW solar farm for engineering.
"We want to develop every kind of renewable energy in this region including Thailand, which recently launched a solar rooftop scheme," said Mr Supasit.
The solar farm project in Myanmar is expected to be the world's third-largest of its kind, with capacity of 210 MW.
Green Earth Power has nearly settled on a loan agreement with banks in the amount of $200 million.
The company plans to ink a power purchase agreement (PPA) by October after a memorandum of understanding was signed with Myanmar's electricity ministry in April.
The solar plant is scheduled to be completed within 18 months of the PPA signing to support Myanmar's goal of increasing electricity production to 30,000 MW by 2030 from 2,500 MW now.
The project, Myanmar's first solar plant, will sit on 300 hectares in Minbu, 200 kilometres west of Nay Pyi Taw.
Only 26% of the country now has access to electricity, falling to 4% in rural areas, while only some 3,000 of the country's 68,000 villages have light, according to the Myanmar Times newspaper.
The electricity from the solar farm will be connected to the country's new 230-kilovolt power grid.
Mr Supasit said power tariffs for the solar project will be 5.90 baht a unit and last for 30 years.
Founded in 2010, Green Earth Power manages and develops solar projects.
The firm, 80% owned by a holding company in Hong Kong, provides appropriate technologies and funding sources for the design and installation of renewable energy.
Green Earth Power's mission is to create clean energy to meet rising demand for power both domestically and in member countries of the Asean Economic Community, said Mr Supasit.
About the author
- Writer: Yuthana Praiwan
Position: Business Reporter