Bangkok--14 Jan--K plus PR
Chow Steel Industries Public Company Limited (CHOW), a SET-listed manufacturer and distributor of high quality steel billets in Thailand, announces its new renewable energy business supported by its two subsidiaries: Chow International Company Limited and Premier Solution Company Limited.Amid the increasing demand of renewable energy globally, CHOW will initially focus on the solar energy business opportunities in both local and international markets.
Anavin Jiratomsiri, CEO of CHOW, revealedthe company’s strategy of expanding into the renewable energy market as its way to long-term sustainable growth.“Upon completion of constructing our phase-2 steel factory, we started to study the renewable energy market. Our company was looking at venturing into new areas to diversify our business in order to generate additional income and profit and also to minimize the risk of heavy reliance on our steel business. The renewable energy market looks very promising with strong growth globally expected through at least these two centuries. Solar energy is especially clean and eco-friendly and is guaranteed by wide market acceptance and increasing demand. It is also supported by technological advances that help drive lower production costs. Therefore, we have decided to set our foot in the renewable energy business and set up the two new subsidiaries to initially focus on the solar energy market.”
He further explained that the business expansion in renewable energy will be in both the local and international markets. CHOW has two business development models for its renewable energy business supported by the two subsidiaries. The first one is turnkey solution model: Premier Solution Company Limitedprovides turnkey solutions to interested investors by developing renewable energy projects with licenses and permits and offering financial investment consultant services. The second one is own-portfolio model: Chow International Company Limited develops and invests in its own renewable energy projects.
With the expertise in the two subsidiaries and the increasing market demand in renewable energy, the new renewable energy business is expected to bring long-term growth opportunity for CHOW.