Thai investment in Japanese PV surging

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Group unit PDI Asia Solar will invest in three projects in Japan, according to The Nation.

It expects the first installation — a 2 MW array in Nanao, Ishikawa prefecture — to begin generating electricity within the third quarter of this year.

It plans to finish another 2MW project in Ryohashiya, Fukui prefecture, by the first quarter of next year, followed by the completion of 11MW in Nogata, Fukuoka prefecture, by the second quarter of 2017.

It will finance roughly 20% of its initial investments with cash, with the rest to be covered by loans.

The company is also looking into the possibility of investing in an additional 20MW project at an undisclosed location in Japan.

PDI’s investments in solar are part of its ongoing shift into renewables, although it expects its zinc business to be its main source of revenue until at least 2017.

It expects its first three PV projects to generate yearly revenues of 200 million baht.

PDI is the latest in a number of Thai companies to jump into the Japanese solar market, despite the country’s ongoing shift from utility-scale PV growth to residential rooftop development.

Earlier this year, Bangkok-based developer SPCG started working with Japanese PV module supplier Kyocera on a 30MW solar project in western Japan’s Tottori prefecture.

And in late August, Thailand’s Gunkul Engineering revealed plans to buy a 72MW solar array in Japan’s Tochigi prefecture.