EA Prepares for International Renewable Projects
Energy Absolute (EA) is preparing to participate in an auction for a wind power project with a capacity of 3,000 megawatts in Taiwan next year.
Amorn Sapthaweekul, EA’s deputy chief executive, said “The upcoming auction is the third phase for the offshore wind power project. EA is studying further details, such as the project’s site and return on investment, Taiwan has plenty of potential for investment in wind power generation” Previously the Taiwanese government called two bids that saw the participation of many large companies. “If EA joins the upcoming auction, we have to seek local partners.”
Mr Amorn further states that The company is confident in its expertise in renewable energy
In addition, EA is studying the feasibility of investing in hydroelectric power generation in Laos, with a capacity of 100-200MW.
“A company in Laos is selling its power purchase agreement in an attempt to attract foreign companies to join this investment,” Mr Amorn said. “EA expects to complete the deal in 2020.”
He said EA also plans to invest in two solar farms in Myanmar with a capacity of 60MW. The investment is expected to be completed by March 2020.
In Vietnam, EA is preparing for a floating solar farm with a capacity of 24MW, including battery storage.
“We are waiting for the Vietnam government to approve the construction of this project,” Mr Amorn said.
Mr Amorn states that is interested in partici- pating in the government’s scheme for community-owned power projects for renewable resources but is awaiting the final announcement before making a decision.
EA has earmarked a 2020 budget of 7.4 billion baht to diversify into energy storage, electric cars and ferries and other innovative projects.
According to next year’s plan, 90% of the total budget is allocated to developing electric vehicles (EVs) and ferries, as well as energy storage.
The remaining 10% is set aside for green diesel from palm oil and phase-change materials (substances that release or absorb sufficient energy at phase transition to provide useful heat or cooling).
Some 3 billion baht of the 7.4-billion- baht budget will go to construction of an energy storage facility in Chachoengsao.
The first phase of development with a capacity of 1 gigawatt-hour is scheduled for commercial operations in the final quarter of 2020.
Mr Amorn said EA is committing to begin EV business in Thailand.
“We are in talks with Chinese companies to supply EV charging outlets,” he said. “Once demand for charging outlets creates economies of scale in production, the Chinese company will invest to produce related components locally.”
