Energy Absolute to install 570 MW of renewables by 2017 - report

Aug 22, 2014 - Thailand-based Energy Absolute PCL (BKK:EA) intends to pour about THB 46 billion (USD 1.44bn/EUR 1.08) into 570 MW of renewable energy projects in the next three years, the Bangkok Post said today.

More specifically, the company will invest THB 17 billion to build 180 MW of solar parks and THB 29 million more for the construction of 390 MW of wind farms. The initiative is part of Energy Absolute’s plans to boost its renewable generation capacity to 670 MW by 2017 from 100 MW at present, the newspaper said, citing CFO Amorn Sapthaweekul. About 75% of the total investment will be debt, while the rest will be financed from the company’s cash flow.

Energy Absolute is diversifying its operations into renewable power generation from the production of biodiesel. The firm switched on a 90-MW solar park in Nakhon Sawan province in December 2013 and is expected to wrap up two more solar farms of a similar size by end-2014 and end-2015, respectively.

According to the country’s Energy Ministry, Thailand’s installed solar and wind power capacity will increase to 4,800 MW by 2021 from 1,046 MW in 2013.

(THB 10 = USD 0.313/EUR 0.236)

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