Saudi Arabia to invest in solar cells in Thailand

BANGKOK, October 3 (TNA) - Saudi Arabia has announced its investment in roof-mounted solar panels and solar farms in Thailand. Wandee Khunchornyakong, President of Thailand-based SPCG Public Company Limited, told reporters of the Saudi plan on Thursday, after bringing representatives of Marasel Group from Saudi Arabia to meet the Thai permanent secretary for energy and representatives of the Federation of Thai Industries (FTI) to express their interest in solar power and other businesses in Thailand. The Saudi businesses are expected to help revive bilateral relations between Thailand and Saudi Arabia, which have soured for 22 years. Wandee revealed that the Saudi Arabian company plans to generate 50,000 megawatts of electricity with roof-mounted solar panels and solar farms in Thailand over the next 15 years and has set the purchase price at 6 US cents per unit of electricity. Wandee said that Saudi Arabia-based Marasel has proposed a joint venture with SPCG, with the latter having planned to invest 100 million baht in the forms of consultancy and installation, and that Kyocera solar panels will be used in the project and SPCG will increase its investment afterwards. (TNA)