China's Powerway eyes expansion in Thai solar market

Sep 29, 2014 - Chinese solar mounting systems maker Powerway Renewable Energy Co Ltd said today it aims to further expand its business in Thailand, having completed 50 MW of photovoltaic (PV) projects in the country to date.

In an observation statement published on Powerway's website today, the company called Thailand a "Southeast Asia PV hotspot." Powerway "attaches great importance to the Thailand market," CEO Benson Wu said. The country’s Provincial Electricity Authority (PEA) estimates that 500 MW of both ground-mounted and rooftop PV capacity will be installed in 2015.

Currently, over 80% of the electricity in Thailand is produced from fossil fuels. In a drive to promote renewable energy, the Thai government launched a feed-in-tariff (FiT) programme, under which such installations receive a certain incentive for every kWh of electricity generated. Commercial rooftop projects in the country will get THB 5.66 (USD 0.175/EUR 0.138) per kWh, whereas for PV schemes that are already operational or under construction the sum will be up to THB 6.50 per kWh.

(THB 10 = USD 0.309/EUR 0.244)

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