ReneSola announced that it has been awarded 5MW of agriculture projects in Thailand.
The Energy Regulation Commission in Thailand recently announced project winners, which were selected by a lucky-draw system. Winners participate in a power purchase scheme featuring ground-mounted solar farms specific to certain governmental agency and agricultural cooperative programs. Of the projects awarded, 119MW are agricultural cooperative projects and 52MW are government agency projects.
All of the projects are eligible for a guaranteed tariff of Thai Baht 4.12/kWh. The projects are all expected to be connected to the grid by December 31, 2018. The electricity generated from the projects will be sold to the local utility under a 25-year purchase agreement.
Xianshou Li, Chairman and Chief Executive Officer of ReneSola, commented: "We are excited to further develop our project business in Southeast Asia, which is a high growth market for solar power. This program is an example of the innovative ways that the Thai government is encouraging the development of renewable power in their country. We look forward to further supporting solar deployment in Thailand and other Southeast Asian countries."