While still facing numerous challenges, as competition remains fierce in the inverter segment, SMA continues to rack up milestones on the back of its long-standing position in the market. The company announced today that it has supplied 1 GW of installations in Thailand, which it says is the fourth largest market in the APAC region.
Thailands PV market has seen some disturbance due to political upheavals and financial uncertainty, however solar's competitive advantage in supplying the country with affordable and clean power solutions on a distributed basis has resulted in a significant solar market for over a decade. Indicative of this, Thailand has supported large scale PV rollout through a number of support programs for both large scale and rooftop solar arrays.
The countrys National Energy Policy Council initiated up to 800 MW of projects under the Government Agencies and Agricultural Cooperative solar farm program in July 2013. The program will license projects up to 5 MW in size, which will receive a FIT of 5.66 Baht/kWh (US$0.16/kWh). Applications for the program close at the end of the year.
2015 has been a successful year for solar farm projects in Thailand and with the Government Agencies and Agricultural Cooperative solar farm program as well as emerging residential and commercial markets SMA expects to see further growth in this region, said Country Manager Suntisuk Mathinapitak. SMA opened its Thai subsidiary in 2011.
Marthinapitak added that SMA has built a reputation in Thailand based on leading and robust technology and local service.
SMA upgraded its earnings outlook for 2015 last month, as it continues to cut costs, particularly in its operations in Germany.
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: email@example.com.