Singapore firm in $248m partnership to develop wind energy in Thailand
BANGKOK – Singapore-based wind and solar energy developer The Blue Circle and Bangkok-based renewable energy group Annex Power will form a partnership to tap into Thailand’s wind energy investments.
The partnership was expected to lead to approximately US$200 million (S$248 million) of wind project investments in Thailand, the companies said in a statement dated July 12.
Wind power in Thailand, which is expanding alternative energy use, is poised for growth in the coming years, they said. “The current situation is similar to France in 2002, just prior to the wind market taking off from installation of 100 MW a year to 1,000 MW,” said Olivier Duguet, Chief Executive Officer for The Blue Circle.
The Blue Circle is a developer of wind and solar energy projects in Thailand, Vietnam and Cambodia, while Annex Power is a renewable energy group focused on Southeast Asia.