Solar Finland, companions to set up 100-MW solar module factory in Thailand

• Finish solar power business Solar Finland Ltd has actually agreed to develop a joint venture in Thailand that will certainly set up a production facility for photovoltaic or pv (PV) modules with a first annual capacity of 100 MW in the Asian country.

Participating via Solar Finland Investment Ltd, the firm has actually collaborated on the project with Finnish development financier Finnfund and PEA Encom International, a Thai state business owned by Provincial Electricity Authority (PEA), according to a news last week. The partners will certainly possess 38%, 37% and also 25%, specifically, in the joint venture and also will with each other spend EUR 7.5 million (USD 8.5 m) in the project.

The joint business, Salo Tech Thailand Ltd, will generate SALO photovoltaic panels as well as is intended to have a capacity of 100 MW per year in the first stage, with a second stage to raise the capacity based upon demand. Manufacturing could start in the second quarter of 2022.

The manufacturing facility's output will be targeted at the neighborhood market and the ASEAN (Association of Southeast Asian Nations) countries.