Thai and Chinese private operators have signed an agreement to co-invest in renewable energy in Thailand.
THAICO ENERGY has struck the deal with Pacific Star (China Holdings) and Asiatic Group (Holdings) Limited to build 10 solar power plants in Thailand with a budget of three billion baht.
The facilities are expected to be built in the provinces of Nakhon Sawan, Lampang, Kanchanaburi and Prachuap Khiri Khan.
Agricultural co-operatives will be allowed to invest in the project. They will be in charge of the cost of land and property maintenance while the companies will be responsible for technology investment.
The power produced by the plants will be sold to the Provincial Electricity Authority (PEA). Seventy percent of profit will be shared with co-ops.
The plan will be submitted to the Energy Regulatory Commission. The construction will begin immediately, if the commission gives the green light to the project.