Belgium-based renewable energy company, Enfinity, has chosen Thailand as the first location in Asia under its US$300 million investment program planned for the region this year. The location of the 40MW solar farm, which will cost the company US$82 million, is yet to be confirmed.
“We are investing in Thailand as the first country in Asia. So far, we have focused on doing business in Europe and the Americas,” said Martin Parodi, head of investment of Enfinity Asia Pacific. “We have seen huge opportunity for renewable energies in Thailand where the government aims for renewable sources to provide 20% of energy consumption by 2020,” he continued.
Enfinity will also invest in projects in South Korea and Taiwan this year; construction of the Thailand plant is expected to begin by the end of 2010.