Ratchaburi Holding has joined with the Chow Group to invest in two solar cell projects in Japan, with a total capacity to generate 33 megawatts of electricity. They plan to sell this solar cell produced electricity commercially by 2016.
Ratchaburi Electricity Generating Holding Pcl (RATCH) and Chow Steel Industry Pcl inked the agreement last week.
The companies have also agreed to establish two joint ventures, with RATCH holding 60 percent of the shares, while the Chow Group attains the rest.
RATCH Group Managing Director Pongdit Pojana.
RATCH Group Managing Director Pongdit Pojana said that Japan is one of the countries the company has targeted for an investment in alternative energy, where the Japanese government has already accepted the purchase of 7,000 megawatts of solar cell electricity.
Chow Group president Anawin Jirathammasiri, meanwhile, said the cooperation between the Chow Group and RATCH is another vital step for the company to expand its bases for alternative energy into Japan, one of the top world markets with high potential for investment in energy, as the Japanese government fully supports alternative energy development.
Both RATCH and Chow Steel will invest in solar cell projects in Ueda in Nagano prefecture and Iwaki of Fukushima prefecture, where each project is promised to produce 10.8 and 22.6 megawatts of electricity via solar cells respectively.
