Bangkok-based Thai Solar Energy Co. last week said that its board agreed to move forward with investments in three biomass projects in southern Thailand.
The company will purchase a 70 percent stake in a company that is developing two 8.8-MW biomass projects in Nakorn Si Thammarat Province. Thai Solar also formed a joint investment agreement for an initial 49 percent stake in a 4.6-MW biomass plant in Surat Thani Province. The company said its investment in the facility will increase to 100 percent after three years.
According to the company, its investment in the three projects will total about US$56 million.
Thailand has about 2 GW of installed biomass power plants, of which about 56 percent runs on sugarcane residues, according to Thailand’s Ministry of Energy.