Gunkul Engineering To Take Charge Of 87-MW Thai Solar Portfolio
The board of Thailand based Gunkul Engineering Plc has affirmed the proposed securing of an extra 33% stake in the owner of a solar power business with 87 MWp of operating capacity. In particular, Gunkul Engineering will be buying around 5.16 million shares in Infinite Alternative Energy Co Ltd (IAE) from Super Solar Energy Co Ltd for THB 780 million (USD 25.9m/EUR 23.1m). Following the transaction, the buyer will hold a total interest of 99.9% in IAE.
Thailand’s Egat to Enter into JV to Form New Tech Firm Focused on Renewable Energy Resources
The Electricity Generating Authority of Thailand (Egat) will enter into a joint venture with Ratch Group Plc and Electricity Generating Plc (Egco) to form a new technology company focused on renewable resources, electric vehicles, energy storage, smart grids and efficient energy consumption. The plan was approved by the three companies. While the new firm is yet to be named, Egat governor Viboon Rerksirathai said Egat plans to own 40% stake of 600 million baht in registered capital of the new firm, while Ratch and Egco will hold a 30% stake each. Also Egat plans to sign an EPC contract on January 26 to develop a 45-megawatt floating solar farm on Sirindhorn dam in Ubon Ratchathani.
India’s Plans to Set Up A Global Electricity Grid to Link Countries in Southeast Asia
India’s plans to set up a global electricity grid that may initially aim to link countries such as Myanmar, Thailand, Cambodia, Laos and Vietnam with the sub-continent as part of a developing energy security architecture. The underlying plans include setting up an under-sea link to connect with Oman in the West. However, the plan hasn’t picked up traction in the backdrop of India-headquartered International Solar Alliance’s (ISA’s) drive to co-opt nations from South-East Asia facing issues with certain nations holding back because of New Delhi’s decision to not join the Regional Comprehensive Economic Partnership (RCEP) trade deal.
SE Asian Nations Reluctant on Joining the India-Based solar alliance
The India-headquartered International Solar Alliance’s (ISA’s) drive to co-opt nations from South-East Asia is confronting issues with certain nations holding reluctance, in light of New Delhi’s decision to not join the Regional Comprehensive Economic Partnership (RCEP) trade deal, said two individuals aware of the development. Vietnam, Malaysia, Singapore, Philippines, Thailand, Brunei, Indonesia, and Laos are yet to turn into a signatory of the ISA, the first treaty-based international government association headquartered in India. Almost 84 nations have signed the framework ISA arrangement. Of these 63 have sanctioned it. RCEP is a proposed free trade agreement (FTA) between the 10 member states of the Association of Southeast Asian Nations (Asean) —Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam—and its six FTA partners.India chose not to join RCEP, with the government being under intense pressure from domestic industry, farmers and political parties over apprehensions that joining would lead to dumping of Chinese goods that could wipe out small scale industries.
Talesun’s Capacity Upgrade in Thailand to 2 GW to Meet U.S Demand Surge
In order to meet the U.S. order demand surge, Talesun Solar Thailand production base successfully completed the 1.5 GW capacity upgrade in November 2019. At the same time, Zhongli Group, the parent company of Talesun Solar, reclaimed most of its domestic power station receivables. This upgrade not only increased the production capacity of Talesun Solar high-efficiency products, improved the modern production level of the enterprise, greatly reduced the production cost, further improved the production efficiency and product quality, but also significantly improved the competitiveness of Talesun Solar in the overseas PV market. Due to the surging demand, Talesun Solar plans to once again expand its production capacity in Thailand, aiming to reach 2 GW capacity by the end of 2020. Up till now, Talesun Solar has already reserved 800 MW orders from the U.S. market in 2020.