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Thai Firm Wins $275 Million Solar Energy Plant Deal in Burma

New Thai Firm Wins $275 Million Solar Energy Plant Deal A newly established company in Bangkok with no previous power industry experience has provisionally secured an agreement with Burma’s Ministry of Electric Power to build the country’s first solar energy plant. Green Earth (Thailand) Company Limited has signed a memorandum of understanding (MoU) to build a large solar “farm” at Minbu near the capital Naypyidaw. Green Earth said the project would eventually have an electricity-generating capacity of 210 megawatts and cost US $275 million. The MoU was signed in Bangkok with Deputy Minister for Electric Power Aung Than Oo.

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A newly established company in Bangkok with no previous power industry experience has provisionally secured an agreement with Burma’s Ministry of Electric Power to build the country’s first solar energy plant.

Green Earth (Thailand) Company Limited has signed a memorandum of understanding (MoU) to build a large solar “farm” at Minbu near the capital Naypyidaw. Green Earth said the project would eventually have an electricity-generating capacity of 210 megawatts and cost US $275 million.

The MoU was signed in Bangkok with Deputy Minister for Electric Power Aung Than Oo.

Green Earth Managing Director Supasit Skontanarak was quoted by Bloomberg business news agency as saying the project could be completed inside two years. However, Supasit said his company needed to raise development capital and was looking for joint-venture partners.

Green Earth said it is also in discussions with Burma’s Ministry of Electric Power on an agreement for a second solar-power project, to be sited near Rangoon or Mandalay, which would have a generating capacity of 200 megawatts.

Large solar plants, using sun-absorbing photovoltaic panels laid out in rows, need a lot of land and must be located with access to the electricity transmission grid.

Many of the world’s biggest solar-panel manufacturers are in China.

Burma Business Roundup (Saturday, May 11)

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Investment

Thailand’s H1 Investment Applications rise 158% in combined value, BOI says

Japanese firms ranked first with 87 projects worth 42.8 billion baht, followed by investments from the U.S. with 18 projects worth 24.1 billion baht, and China with 63 projects worth 18.6 billion baht.

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In the first six months of 2021, Thailand’s investment applications increased 14% from the year earlier period in terms of the number of projects, and 158% in combined value, led by increasing foreign direct investment (FDI) applications, sustained growth in target industries including the electronics and medical sectors, as well as in power generation, the Thailand Board of Investment (BOI) said.

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Business

Large Shopping Malls in Bangkok Will Be Closed until July 25th

Shopping malls under the Mall Group, including all branches of The Mall, the Emporium, Emquartier and Paragon Department Store, are also closed for 14 days, from today, except for supermarkets, food courts, pharmacy shops, eateries (take-out and delivery only), banks, mobile phone shops and vaccination sites.

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BANGKOK (NNT) – Large-scale shopping malls in Bangkok and in some dark-red zone provinces are now closed for two weeks, to comply with the latest COVID-19 curbs in 10 provinces.

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