Ratch, Chow Steel to invest in 33 MW of Japanese solar projects
Sep 12, 2014 - Thai companies Ratchaburi Electricity Generating Holding PCL (BKK:RATCH) and Chow Steel Industries PCL (BKK:CHOW) will team up to invest in two Japanese solar power projects totalling 33 MW.
This would be the initial phase of a partnership between the two companies in the Japanese solar sector, power producer Ratchaburi said in a statement on Friday. For the purpose, the firms have inked deals to establish two joint ventures, one that will serve as the investment vehicle and another one that will act as management service provider. Ratchaburi will have a 60% stake in each of the JVs, while Chow Steel will hold the remaining shares.
Initially, the partnership will invest in the 10.8-MW Ueda solar project in Nagano prefecture and the 22.6-MW Iwaki solar scheme in Fukushima prefecture. The two projects already have 20-year power purchase agreements (PPAs) and will be receiving a feed-in tariff (FiT) of JPY 40.00 (USD 0.373/EUR 0.288) per kWh of generated electricity. The installations are expected to reach their commercial operation dates (CODs) in 2016.