November 30 (Renewables Now) - Thai renewable energy provider Enserv Group Co and Korea Electric Power Industrial Development Co (KEPID) intend to install over 1 GW of solar and energy storage facilities in Thailand in a THB-40-billion (USD 1.23bn/EUR 1.03bn) project.
The two companies have signed a memorandum of understanding (MoU), the Bangkok Post reported on Wednesday, citing Enserv’s CEO Thanachat Pochana. He said the goal of the project is to install renewable energy and storage capacity that will make Thailand’s power grid more sustainable.
KEPID announced the cooperation agreement with Enserv on its website earlier in November, but did not reveal specific details on the projects they are planning.
Enserv, which is mainly active in the solar power sector, has more than 258 MW of photovoltaic (PV) parks in Thailand operating under power purchase agreements (PPAs) with the country’s Provincial Electricity Authority. The company is also engaged in research and development (R&D) in the energy storage segment, biofuel production and energy trading innovation.
(THB 10 = USD 0.306/EUR 0.259)