Sep 21 (Renewables Now) - Renewables and storage investment platform Constant Energy has bought 17.5 MW of operating solar power plants in Thailand from French-based Sonnedix for an undisclosed amount.
The deal also includes the acquisition of a team of developers and operators and a project pipeline , the buyer said on Tuesday.
Constant Energy said that the transaction is “an excellent fit” to its strategy and will expand its footprint in Thailand. It expects the photovoltaic (PV) assets to add USD 8 million (EUR 6.7m) to its recurring earnings before interest, tax, depreciation and amortization (EBITDA) each year.
This is the second time this year that Constant Energy strikes a deal in Thailand. In February, the company bought 30 MW of rooftop solar projects in South East Asia through the acquisition of Solareo Pte Ltd.
Thailand’s installed solar power capacity currently exceeds 3,000 MW. The local government has set a goal for the country of 6,000 MW by 2036.
(USD 1.0 = EUR 0.841)