SET-listed SPCG, a pioneer in solar farm development in Thailand, expects to secure state approval to build 23 solar farms across the Eastern Economic Corridor (EEC) in the third quarter to offset its revenue loss from the gradual expiration of the adder tariff for its existing solar farms.
The new project, to be co-developed by PEA Encom International Co, a wholly-owned subsidiary of state electricity distribution arm Provincial Electricity Authority, will be one of the largest solar energy developments in Thailand, with a combined capacity of 316 megawatts.
Wandee Khunchornyakong Juljarern, chief executive of SPCG, said the company already acquired plots of land and signed a power purchase agreement with the government. It is awaiting approval for construction from the National Energy Policy Council, she said.
The 23 solar farms, to be located in Chon Buri,…
