Australia-based CBD Energy Ltd. (CBDE) has signed an agreement with Environmental Engineering Group Thailand to construct a 64 MW solar park in Thailand. The project is expected to incorporate approximately 256,000 solar modules.
The project is supported by a 25-year power purchase agreement with the Thai Provincial Electricity Authority. CBDE estimates it will earn a pre-tax profit of $6.08 million from the $112 million project's construction, which is expected to be sold to a Singapore-based financial institution.
‘As some traditional long-established markets slow down, CBD Energy's strategy of diversification and exposure to multiple markets is realizing significant opportunity for CBDE due to our worldwide capability,’ says Gerry McGowan, the company's executive chairman.