Thai Solar Energy eyes joint-ventures in Vietnam and Taiwan

June 21, 2019 | 06:44

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The Bangkok-based renewable energy solutions firm Thai Solar Energy Pcl. is aiming to expand its international footprint by forming joint ventures in Vietnam and Taiwan.

In March 2019, the firm signed a co-operation agreement with China’s Huawei for the 150MW Onikoube solar project in Japan, according to a press release. Huawei's offering uses an artificial intelligence (AI) algorithm to improve operation and maintenance efficiency and reduce the operating costs of the plant, the company noted.

thai solar energy eyes joint ventures in vietnam and taiwan

Solar energy – a clean and renewable energy alternative for sunshine-rich Vietnam

Its upcoming plans of penetrating the Vietnamese and Taiwanese solar energy segments also follows suit, as it targets improving utility-scale photovoltaic (PV) plants in the Asia-Pacific region.

In its latest report, Thai Solar Energy Pcl.’s CEO Cathleen Maleenont said that the company was preparing the groundwork and discussing with two or three partners in Taiwan. Its neighbour, Vietnam, is also a target country into which the firm would pour investment.

Currently, there are two projects in Vietnam that have appeared on the company's radar. Vietnam enjoys the advantages of a sunshine-rich country and expects to take further steps towards utilising green energy efficiently.

Solar energy joint venture projects are underway

Thailand’s accumulated direct investment in Vietnam reached more than $10.4 billion so far, as previously reported by VIR. As the bilateral strategic relation between the two countries thrives, Thailand is among the top ten biggest foreign direct investors in Vietnam. By 2020, the expected investment and trade turnover is expected to reach $20 billion.

By Luu Huong

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