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Southeast Asia Clean Energy fund supports 6 small-scale solar projects in Thailand

Armstrong Asset Management has inked its first solar deal with Thai energy developer Symbior Solar Siam to put up 6 small-scale solar power plants.

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Under the terms of the agreement, the private-equity fund will acquire 60 percent interest in the portfolio of small scale projects which are being developed Symbior Solar Siam, a subsidiary of Hong Kong-based energy firm Symbior Energy.

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The two will put up a total of 30-megawatts of solar projects, a 1 MW photovoltaic plant in Northeast Thailand and five P.V. plants in late-stage development with a total of 29 MW in the central provinces of Chachaengsao, Prachin Buri and Nakan Sawan.

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Thailand’s renewable energy market is dubbed as the most established in Southeast Asia, with the government aiming to have 25 percent of its total energy be supplied by renewable sources by 2021.

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The 10-year Armstrong South East Asia Clean Energy Fund is the first clean energy investment scheme designed to support small-scale renewable energy and energy efficiency projects, in emerging countries in Southeast Asia (see related story). It mainly focuses on the Philippines, Indonesia and Vietnam, in addition to Thailand. – EcoSeed Staff

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