SUPPLY OF SOLAR POWER, RENEWABLE ENERGY TO DOUBLE
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The Energy Ministry has set the target of doubling electricity generation from renewable energy and solar power by the next 20 years, Energy Minister Narongchai Akrasanee said yesterday.
He said the ministry would focus its support on three renewable energy types: solar power, waste-to-energy, and biomass and biogas. The goal is to increase the national electricity grid’s purchase of renewable energy to 22-25 per cent of total installed capacity from approximately 11 per cent at present, and to double the purchase of solar power to about 3,000 megawatt within the next 20 years.
The government is expected to conclude by early next month how many megawatts of additional solar power to reach capacity. It will open a new bidding round after clearing off projects proposed during the previous government, said the minister.
INDORAMA VENTURE TAKES PTA BUSINESS IN CANADA
Indorama Ventures reported to the Stock Exchange of Thailand yesterday that its wholly owned subsidiary Indorama Netherlands had signed a share-purchase agreement to acquire a 100-per-cent stake in the PTA (purified terephthalic acid) business of Cepsa Chimie Montreal from Cepsa Quemica, a wholly owned affiliate of Cepsa, and IQ Chimie, a subsidiary of Investissement Quebec.
Cepsa Chimie Montreal is the only PTA manufacturing facility in Canada, with an annual capacity of 600,000 tonnes, and one of the three merchant PTA producers in North America.
“The acquisition is in line with IVL’s strategy to expand in its core businesses and will provide PTA integration to the company’s existing PET [polyethylene terephthalate] and fibre assets in the region and secure feedstock supplies,” said IVL secretary Souvik Roy Chowdhury.
The transaction is subject to regulatory approvals and is expected to be completed within the second quarter of 2015.
TOYO-THAI TO BUILD DESALINATION
PLANT IN QATAR
Toyo-Thai Corp (TTCL) reported to the Stock Exchange of Thailand yesterday that its consortium had won an engineering, procurement and construction contract to build a desalination plant in Ras Abu Fontas, Qatar, from Qatar Electricity and Water Co.
Mitsubishi Corp is TTCL’s partner in the consortium that will complete the project by December 2017. The contractual value on TTCL’s portion is put at US$225 million (Bt7.3 billion).
