China's vertically integrated solar module supplier Yingli Green Energy has announced today that it has signed a Memorandum of Understanding (MoU) with a consortium of companies for the development of a suite of solar power projects in Thailand.
Yingli Green Energy subsidiary Yingli Solar will team up with Chinese electronics giant Huawei which has made huge strides in the global inverter market in recent years Solventia Solar Energy and Thai finance institution Kasikornbank (KBank) to provide a series of turnkey solar solutions across the country, with a particular focus on PV power plant installation and distributed generation projects.
According to Yingli Singapores MD Angie Koh, the companys collaboration with Huawei, KBank and Solventia Solar Energy will act as a catalyst towards simplifying PV deployment in Thailand, making it easier for power suppliers and consumers to access solar power.
"As industry leaders, our companies cooperation will help establish Thailand as an innovative regional leader in the transition to a clean, low-carbon future," said Koh. The CEO of Solventian Solar, Jesus Vazquez, added that the collaboration will enable the companies to "each execute a critical aspect of PV deployment, from manufacturing to construction."
Vazquez continued: "Our aim is to provide the best quality of service in solar PV to our clients and to local communities, transforming Thailand into a self-sufficient and more sustainable society."
Thailands solar industry has been pegged as "one to watch" for the past 18 months, thanks in part to the governments plans to establish 3 GW of PV capacity by 2021. Yet despite impressive growth in the latter part of 2012 and early months of last year, political unrest has slowed deployment in 2014.
A military coup in May added to the tumult, but the picture began to clear over the summer when ruling military officials announced that they were interested in dusting-off Thailands renewable energy targets and building upon the 3.78 GW of RE capacity installed.
August brought news that Bangkoks Energy Absolute was to develop 180 MW of PV projects in the company over the next three years, while this latest announcement by Yingli, Huawei and Solventia Solar will go some way to normalizing Thailands energy sector next year after months of upheaval and uncertainty.