SET-listed SPCG Plc has joined forces with a Japanese solar module operator to build a 3-billion-baht, 30-megawatt solar farm in Japan, which is expected to go live in early 2017.
SPCG chairwoman and chief executive Wandee Khunchornyakong said the project will be undertaken by its joint venture with Kyocera Corporation, Japan’s leading solar module producer, and Century Tokyo Leasing Corporation (TCL), a Japanese leasing company. The three partners hold equal stakes in the venture.
“Each company will invest around one-third of the investment value and Kyocera, who are experts in the sector and our strategic partner, will lead the project,” said Ms Wandee.
She said Kyocera had already obtained the contract to sell electricity to the Japanese government for at least 20 years with a feed-in tariff (FIT) of 42 yen per kilowatt hour.
“Even though the cost of investing in a solar farm in Japan is higher than in Thailand, the price of electricity is also higher, so we see an opportunity to make a profit,” said Ms Wandee.
She said the farm is located in a 700 rai space in Japan’s least populous Tottori prefecture and the area is currently being developed before construction gets underway.
This is SPCG’s first investment project abroad, with which they aim to generate 30% of total revenue in the next three years, Ms Wandee said.