Global renewables developer, CBD Energy, is to build a 64MW solar power project in Thailand.
CBD has signed a construction agreement to consturct the solar power plant with the Australian-based solar company Environmental Engineering Group's Thailand subsidiary.
The project cost is estimated at US$112 million.
CBD has said it is to earn approximately US$6 million in profit from the project, and is expected to sell the project once complete to a finance company in Singapore.
CDB Energy has a 25-year power purchase agreement with the Thai Provincial Electricity Authority (PEA), a government enterprise.
CBD Energy executive chairman Gerry McGowan said CBD is to continue to develop a pipeline of projects in Southeast Asia.
Thailand’s solar market appears to be gaining ground after stalling during the recent political turmoil. Last week, solar farm developer, SPCG and PV module manufacturer, Kyocera announced the completion of 35 utility-scale solar PV plants totalling 257MW. All 75MW is connected to the grid in north east Thailand with power from the 35 projects, also to be supplied to PEA.