Singapore-based renewable energy developer, The Blue Circle, which operates in the Mekong region, has partnered with Bangkok-based renewable energy group, Annex Power, to develop wind energy in Thailand.
The agreement is expected to lead to a series of investments amounting to $200 million.
The partners will focus on small projects, seeking maximum territorial coverage. They will use the latest technologies to assess and harvest the low wind speeds typical of Thailand.
According to the two companies, wind power is poised for growth in the coming years, given the current small amount of installed capacity (223MW) and scarcity of projects (only three).
“The current situation is similar to that of France in 2002, just prior to the wind market taking off from the installation of 100MW a year to 1,000MW,” said Olivier Duguet, chief executive officer at The Blue Circle.
Annex Power, which is present throughout Southeast Asia and has a track record of large-scale solar power installations (totaling 700MW) in Thailand, has also been present in the country’s wind power sector for three years. Its contribution to the project will include engineering and construction expertise as well as grid connection.
The Blue Circle is a developer of wind and solar energy projects in Thailand, Vietnam and Cambodia. It aims to provide the Mekong Region with international project development experience acquired through wind projects in Europe, North America, South Africa and Australia, as well as financial expertise.