Overall, Symbior Energy subsidiary Symbior Solar Siam is planning to install 190 MW of photovoltaics across 40 sites in rural Thailand by 2014. "Obviously, the extent of opportunities will be dictated by the market," a spokesperson for Armstrong tells pv magazine.
Earlier this week, Symbior announced it had entered into a strategic cooperation with Armstrong Asset Management to develop 30 MW of photovoltaic plants in central and north east Thailand.
Via its 10 year Armstrong South East Asia Clean Energy Fund, Armstrong is expected to invest up to US$12 million in Symbior Solar Siams subsidiary, Symbior Elements Pte Ltd, "dependent on installed costs and quantum of project debt," continues the spokesperson.
Overall, the projects include a one MW photovoltaic plant in north east Thailand, which is already operational, and five plants, totaling 29 MW in the central provinces of Chachaengsao, Prachin Buri, and Nakan Sawan, said to be in the late stages of development. They are expected to be completed by the end of 2014, and project sizes will range, with the smallest being three MW.
Currently no equipment suppliers or construction partners for the five plants have been brought on board. However, "this will go out to tender soon," says the spokesperson.
Clean energy fund
The Armstrong South East Asia Clean Energy Fund, established by Armstrong Asset Management in 2012, aims to raise $150 million in capital by this August. To date, it has secured $85 million from European development institutions GEEREF and DEG, an unidentified Asian corporation, and the International Finance Corporation (IFC).
Overall, the fund aims to invest between $5 million and $12 million in solar, wind and mini-hydro projects under 10 MW in size over a 10 year period.