Clean energy fund supports solar projects in Thailand

Will go to building six small-scale solar power plants.

Armstrong Asset Management, a private-equity fund, signed its first solar deal to build the plants with Thai energy developer Symbior Solar Siam. Under the terms of the agreement, Armstrong will acquire 60% interest in the portfolio of small scale projects being developed Symbior, a subsidiary of Hong Kong-based energy firm Symbior Energy.

The partners will build a total of six 30 megawatts solar projects. There will be a 1 MW photovoltaic plant in northeast Thailand and five PV plants.

Thailand’s government aims to have 25% of the country’s total energy supplied by renewable sources by 2021.

The 10-year Armstrong South East Asia Clean Energy Fund is the first clean energy investment scheme designed to support small-scale renewable energy and energy efficiency projects in emerging countries in Southeast Asia. It mainly focuses on the Philippines, Indonesia and Vietnam, in addition to Thailand.