Chubu Electric Power to Participate in Thai Solar Power Project
Chubu Electric Power has acquired a 49% share of the stocks in an operating company that develops and operates mega solar generation plants at a total of six locations in central and northern Thailand (contract capacity 30.9 MW) from Gunkul Engineering Public Company Limited (hereafter GUNKUL).
This marks the first time that Chubu Electric Power has participated in a solar power generation project in another country. This is a project to sell electricity wholesale to the Provincial Electricity Authority (PEA) in Thailand on a long-term purchase agreement based on the Thailand VSPP Program. Two (7.4 MW) of the mega solar generation plants owned by the project have already begun commercial operation, and the remaining four plants (23.5 MW) are presently under construction.
Chubu Electric Power will promote this project jointly with GUNKUL and will engage in appropriate business operations. At Chubu Electric Power have considered Thailand to be a base in the Asia region since 2001, when they took part in an overseas investment project for the first time. The present business is the fifth project in which Chubu Electric Power has participated in Thailand.
This marks participation in a renewable energy project to follow the Rice Husk Biomass Power Generation Project and the Huaybong Wind Farm, the largest such facility in Southeast Asia. Chubu consider it an indication of how the company can make still greater contributions to global environment protection in Thailand.