SPCG to pour USD 616m in PV parks in Japan, Myanmar, Philippines - report

Thai solar project developer SPCG Pcl (MAI:SPCG) plans to invest over THB 20 billion (USD 616m/EUR 572m) in photovoltaic (PV) plants across Japan, Myanmar and the Philippines, the Bangkok Post said Thursday.

In Japan, the company has already inked a letter of intent (LoI) for a 150-MW solar park, which will require a total investment of some THB 15 billion. A power purchase agreement (PPA) for it will be secured automatically after the completion of over half of the installations, CEO Wandee Khunchornyakon was cited as saying.

Meanwhile, SPCG plans to build and operate 100 MW of solar capacity in the Philippines, for which it has also signed a LoI with the local government. The company has been offered solar power projects with a combined capacity of 400 MW in the country, but plans to develop only the THB-7-billion plant for now, according to the report.

As for Myanmar, the Thai firm is currently finalising the feasibility studies for a number of solar schemes there, further details on which were not revealed to the Bangkok Post.

SPCG will start seeking business partners in all three locations, with which to jointly develop and run the solar parks, in the second quarter of the current year, the daily added, citing the CEO. In terms of PV panel suppliers, the company will continue its long-term partnership with Japan's Kyocera Corp (TYO:6971).

At home, SPCG operates 36 solar farms, totaling 260 MW.

(THB 10 = USD 0.308/EUR 0.286)

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