Bangkok--17 May--EXIM BANK
EXIM Thailand has rendered financial support for construction of solar power plants in Japan of Chow Steel Group in order to promote Thailand's trade and investment overseas.
Mr. Kematat Saicheur, Acting President of Export-Import Bank of Thailand (EXIM Thailand), jointly with Mr. Anavin Jiratomsiri, Chairman of Executive Committee, Chow Steel Industries Plc., and Mr. Sutthichai Suraphat, Director of Premier Solution Co., Ltd., a subsidiary of Chow Steel Industries Plc., recently signed a financial facility agreement worth 1.307 billion baht at EXIM Thailand's Head Office to finance Premier Solution Co., Ltd.'s acquisition of solar panel and equipment for six solar farm projects operated by Chow Steel Group with a total capacity of 8.74 MW in Fukui Prefecture in Japan. Chow Steel Group has planned power sales to Hokuriku Electric Power Company, an electric power supplier in Japan, over a duration of 20 years.
EXIM Thailand Acting President said Japan is currently in the process of accelerating its expansion of power generation from renewable energy to curtail reliance on nuclear power generation after Fukushima nuclear power plant suffered major damage from an earthquake. Power generation from renewable energy, i.e. solar, wind, hydropower, biomass and geothermal, has been set to increase from the current level of only 12% to 24% of Japan's total power generating capacity by 2030. It is thus a good opportunity for Thai investors to expand energy business in Japan. Chow Steel Group has been among Thai investors pioneering in solar farm business in Japan over the past two years, with 23 MW solar farm projects now in commercial operation.
"This financial facility for Chow Steel Group is part of EXIM Thailand's collaboration with the private sector to support and encourage Thailand's international investment, which will include future projects initiated by other Thai business entities with high potential like Chow Steel Group. EXIM Thailand will consistently strive to develop new facilities and services to meet Thai entrepreneurs' international trade and investment needs, aiming to help bring in foreign exchange earnings and foster sustainable development of the Thai economy as well as the global community," added Mr. Kematat.
For further information, please contact Public Relations Division, Office of Top Management
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