Thailand
Enfinity to build $82 million solar farm in Thailand
Thailand, 9 July 2010 – The Asia Pacific unit of renewable energy project developer Enfinity has chosen Thailand as its first location in Asia, under a USD$300 million photovoltaics (PV) investment program for the region.
The company has allocated USD$300 million for three Asian solar farms.
“Enfinity will spend USD$82 million to develop a solar farm with a capacity of about 40 megawatts”, said Martin Parodi, head of investment of Enfinity Asia Pacific. Enfinity will set up a company in Thailand in the next two months to oversee the project. The location has yet to be finalized; however, construction is expected to start this year.
The company will also invest in projects in South Korea and Taiwan in 2010. It has allocated USD$300 million for three Asian solar farms according to Mr Parodi, who said: “We are investing in Thailand as the first country in Asia. So far, we have focused on doing business in Europe and the Americas.” He continued: “We have seen huge opportunity for renewable energies in Thailand where the government aims for renewable sources to provide 20 percent of energy consumption by 2020.”
A 15-year renewable energy development plan is projected to more than triple the share of renewable fuels in overall energy demand from about six percent at present. Enfinity is due to develop its investments in Malaysia and the Philippines in 2011.
About Enfinity
Enfinity specializes in developing and financing renewable energy projects worldwide. As a project specialist, Enfinity delivers turnkey installations of solar and wind energy power plants and has offices in the U.S., Canada, Europe and Asia. In order to finance these energy projects, Enfinity works with individual project companies financed by equity investors and banks. Enfinity’s 2009 revenues totaled more than $340M, and its U.S. headquarters are in Atlanta, Ga. For more information, visit http://www.enfinitycorp.com.