14 August 2012
First Solar establishes Thai operating subsidiary; opens Bangkok office
First Solar Inc of Tempe, AZ, USA – which manufactures thin-film photovoltaic modules based on cadmium telluride (CdTe) as well as providing engineering, procurement and construction (EPC) services – has established the operating subsidiary First Solar (Thailand) Ltd and opened an office in Bangkok.
The firm reckons that creating the local subsidiary will better enable it to execute its strategy to expand the market for utility‐scale solar PV power plants in the local market, and to deliver value to Thai solar power producers.
“The long‐term energy fundamentals in Thailand are very favorable for a solar power solution to meet their growing energy needs, and we will continue to invest here as part of our strategy to develop sustainable, utility-scale solar markets,” says Won Park, senior manager, business development.
First Solar says that Thailand is expected to remain an important solar market in Southeast Asia due to its strong economic growth, significant energy demand and abundant solar resource. The firm entered the Thai PV market in 2011, and since then more than 12MW of solar projects have already been installed or are under construction using First Solar’s modules.