Thailand’s largest private power producer Ratchaburi Electricity Generating Pcl and steel maker Chow Steel Industries Pcl will work together on two solar power projects in Japan.
The two projects will initially have a combined capacity of 33 megawatts and are expected to start commercial operations in 2016, Ratchaburi said in a statement.
The two joint ventures will each be 60 percent owned by Ratchaburi and 40 percent owned by the Chow group. No details on the cost of the investment were given.
In the wake of the 2011 Fukushima nuclear disaster, Japan is offering some of the world’s best incentives in the industry to encourage investment in solar and other renewable energy.
Ratchaburi has said it wants to raise its electricity generating capacity by 48 per cent to 9,700 megawatts (MW) by 2023 as part of its 10-year business expansion, compared with its current capacity of about 6,543 MW from operating and developing projects.
The utility, which is 45 per cent owned by state-run Electricity Generating Authority of Thailand, has also said it is interested in investing in Australia and Myanmar.
