Spanish renewables pure-player Acciona Energia (BME:ANE) and its Singapore-based investee The Blue Circle have been awarded a power purchase agreement (PPA) for 436 MW of wind farms in Thailand.
The capacity corresponds to five proposed wind farm projects which the companies secured through a tender process organised by Thailand’s Energy Regulatory Commission, Acciona Energia said on Monday.
The projects will be developed and commissioned gradually. Construction of the first wind farm is expected to begin in 2024.
Four of the wind farms will be located in the provinces of Ubon Ratchathani and Amnat Charoen, while the fifth one will be sited in Chaiyaphum. Acciona Energia and The Blue Circle expect to finalise the projects between 2026 and 2030, the Spanish partner said.
Once up and running, the five wind farms will generate some 1,141 GWh of electricity per year in total. State-owned power company Electricity Generation Authority of Thailand (EGAT) will off-take the entire production output from the wind farms under a 25-year PPA, Acciona Energia said.
Back in September, Acciona Energia announced it had invested into The Blue Circle to take a stake of close to 50%. The Singapore-based wind projects developer has 84 MW of operational capacity in Vietnam and a development pipeline of 3.8 GW in other Southeast Asia countries.
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