CBD Energy, providers of solar systems, has announced an agreement with Environmental Engineering Group Thailand (EEG) for the construction of a 64 MW solar park at a cost of approximately $112,000,000.
The project is includes a 25-year power purchase agreement with Thai Provincial Electricity Authority.
On completion of this project, CBDE plans to earn a pre-tax profit of $6,080,000, which will be pre sold to a financial institution in Singapore, as in the case of a previously completed project by CBDE in Thailand.
CBDE expects these earnings to be recognized during the 2015. It attributes the contract finalization to the license it holds for marketing the solar products under the Westinghouse Solar brand name.
Previously, CBDE has developed and operated a $25,000,000 solar farm in Chon bun province in Thailand.
Thailand has decided to increase their solar energy investment by 50 percent, with a commitment to meet 25 percent of the country’s total energy demand from renewable sources.
Besides, the strategy of diversification and exposure to multiple markets provide enough opportunity for CBDE attributed to their ability, said company officials.
The finalized projects need full use of our international experience as well as engineering and operational capability.
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