First Solar establishes subsidiary in Thailand
US-based First Solar Inc has established a Thailand operating subsidiary, First Solar (Thailand) Ltd, and opened an office in Bangkok, to support its solar energy investment in the Kingdom.
Creation of the local subsidiary will better enable First Solar to execute its strategy to expand the market for utility-scale solar photovoltaic (PV) power plants in the local market, and to deliver value to Thai solar power producers, the company said in a statement.
"The long-term energy fundamentals in Thailand are very favourable for a solar power solution to meet their growing energy needs, and we will continue to invest here as part of our strategy to develop sustainable, utility-scale solar markets," said Won Park, senior manager, Business Development.
For First Solar, Thailand is expected to remain an important solar market in Southeast Asia due to its strong economic growth, significant energy demand and abundant solar resource.
First Solar made first presence in the Thai photovoltaic market in 2011. To date, it has been involved in solar PV projects with more than 12 megawatts of capacity, with its advanced thin-film module technology.