Armstrong and Symbior Energy to cooperate on 30 MW of PV in Thailand

Share

The two parties have entered into a strategic cooperation to develop and operate six small-scale grid-connected photovoltaic plants in central and north east Thailand.

Under the deal, Armstrong Asset Management, via its Armstrong South East Asia Clean Energy Fund, will invest an unidentified amount of capital into Symbior Elements Pte Ltd, in return for 60% equity interest. The Symbior Solar Siam subsidiary holds both project development and operating rights to the projects, including for land ownership.

Overall, the projects include a one MW photovoltaic plant in north east Thailand, which is already said to be operational, and five plants, totalling 29 MW in the central provinces of Chachaengsao, Prachin Buri, and Nakan Sawan, said to be in the late stages of development.

Neither party could be immediately contacted for more project or financial details.

The Armstrong South East Asia Clean Energy Fund, established by Armstrong Asset Management in 2012, aims to raise US$150 million in capital by this August. It has already secured $65 million from European development institutions GEEREF and DEG, and an unidentified Asian corporation.

"The 10-year Armstrong fund is investing in small-scale renewable energy and resource efficiency infrastructure projects in Thailand, Philippines, Vietnam, Indonesia and other Southeast Asian emerging markets," explained the company in a statement released. "Typical projects sizes will generate power of up to 10 megawatt (MW) from renewable energy resources, such as solar, hydro and wind."

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Popular content

Switzerland authorizes removable PV plant on railway track

04 October 2024 Swiss startup Sun-ways is planning to build a 18 kW pilot PV system between the racks of a 100-m linear section of a railway line in the Swiss canton...

Share

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.