Salo Tech Thailand Ltd.
Region and country of operations: Southeast Asia, Thailand
Jurisdiction of registration: Thailand
Business sector: Solar power
Date of agreement (month/year): 12/2020
Finnfund’s financing: EUR 2.756,000
Share of Finnfund’s financing: 36.75 %
Instrument: Equity
Size of project/financing: EUR 7,500,000
Environmental and social category: B
Project description
A Finnish solar power group Solar Finland and a Thai public utility PEA Encom establish a modern, automated solar panel factory in Thailand. The capacity of the factory is 100 MWp a year. The 7.5 million euro investment will be financed by equity, of which Finnfund provides approximately 37%, Solar Finland about 38 % and PEA Encom 25%. The main market of the factory is Thailand, but it will target the neighbouring markets too.
Main development impact
- Market development as a result of establishing supply of high quality solar panels in the region.
- Enabling an increase of 100 MWp a year of solar power generation and thus contributing to climate change mitigation.
- Direct and indirect employment impact.