CBD Energy to build 64-MW solar project in Thailand

Aug 4, 2014 - Australian renewable energy firm CBD Energy Ltd (NASDAQ:CBDE) said Friday it has been hired by Environmental Engineering Group Thailand (EEG) to build a 64-MW solar plant in Thailand, valued at USD 112 million (EUR 83.5m).

The contract of the Sydney-headquartered firm is for USD 6 million. The project has a 25-year power purchase agreement (PPA) with the Thai Provincial Electricity Authority.

The solar farm is expected to be sold to a Singapore-based financial institution. When hooked to the grid, the plant is estimated to generate 86,400 MWh per year, enough to power approximately 17,280 local households.

CBD Energy noted that it has previously delivered another solar project, located in Thailand’s Chonbun province. The firm sees good opportunities in the country, which aims to meet 25% of its total energy consumption with electricity generated from renewable energy sources. Thailand is a has increased its investments in the solar energy sector by 50%, the company noted.

CBD is active mainly in Australia, the USA and the UK. It attributes its success partially to its license to market its residential and commercial solar installations under the Westinghouse Solar trademark worldwide.

(USD 1 = EUR 0.745)

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