Thai and Singaporean Specialists Advance Floating Solar in Thailand

March 2024

Thailand’s UMC Metals and New Energy Capital Asia from Singapore have inked a power purchase agreement (PPA) for a 1.6 MWp solar venture in Thailand, comprising both floating and ground-mounted solar arrays. New Energy Capital Asia specializes in providing solar energy solutions for corporate and industrial entities, while UMC Metals is entrenched in the metals industry. This endeavor aims to energize UMC Metals’ operations while propelling its sustainability initiatives forward.

Under the terms of this 15-year contract, New Energy Capital Asia will handle the design, construction, and operation of the solar project, with a target output of around 2,400 MWh of clean energy annually. The collaboration seeks to reduce carbon dioxide emissions collectively by approximately 1,860 tons per annum. A notable segment of the project will encompass floating solar panels (FPV), which will leverage Thailand’s abundant resources for efficient and sustainable power generation.

Thailand boasts the world’s largest hydro-floating solar hybrid project, a 45 MW plant situated at Sirindhorn Dam in Ubon Ratchathani. This pioneering initiative by EGAT combines solar and hydropower to mitigate the constraints of weather-dependent power generation.

Recent research by Rystad Energy underscores the pivotal role of floating solar in Southeast Asia’s solar expansion, offering a solution to land scarcity and forest preservation concerns. Presently, operational FPV projects in Southeast Asia tally approximately 500 MW. Rystad Energy forecasts an additional 300 MW of FPV capacity to be integrated across the region in early 2024.


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