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Thailand QTC Energy acquires 15% in solar farm developer

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QTC Energy diversifies into solar farm business by acquiring 15 per cent in Green Earth Power.

QTC Energy Plc, a MAI-listed transformer manufacturer, is to acquire a 15 per cent stake in Green Earth Power through its subsidiary QTC Global Power for 267 million baht ($7.7 million), the company said on Monday.

Green Earth Power is working on a 220-megawatt solar farm project in Myanmar. The project is scheduled to start commercial operations in the first quarter of next year.

Poonphiphat Tantanasin, CEO of QTC, said that it planned to diversify into renewable energy business in a bid to generate more income and reduce risk from solely depending on transformer manufacturing business.

Green Earth Power has been granted a build-operate-transfer contract by Myanmar’s Electric Power Enterprise with a power purchase agreement for 30 years. This will help secure the company’s revenue in the long run, he said.

QTC reported a net loss of 18 million baht in the first quarter of this year, improving from a net loss of 24 million baht in the same quarter in 2016.

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Thailand BOI Approves Measures to Support Carbon Reduction

greenhouse gas emission as well as an enhanced scheme for electric vehicles and measures to mitigate Covid-19 impacts and support local vaccine development

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The Thailand Board of Investment (BOI) approved incentives to encourage companies to reduce greenhouse gas emission as well as an enhanced scheme for electric vehicles and measures to mitigate Covid-19 impacts and support local vaccine development, Ms Duangjai Asawachintachit, Secretary General of the BOI, announced today.

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Thailand falls out of global top 20 most expensive locations for expatriate staff

Thailand plunges out of the global top 20 most expensive locations to hire expatriate employees, falling by eight places in the rankings.

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The average pay package for a mid-level expatriate worker in Thailand has fallen by over 7% to USD 223,142 annually.

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