Environmental engineering company Sanli Environmental 1E3 1E3 has announced the signing of a power purchase agreement (PPA) between its subsidiary, Sanli-EnGreen, and Deesuwanresort Company for the group’s first project in Thailand.
Also Sanli’s first renewable energy project, the agreement encompasses the development, design, construction, ownership and management of a cutting-edge 0.5 megawatt (MW) photovoltaic (PV) power generation system positioned atop the Mercure Koh Chang Hideaway, a premier hotel resort in Koh Chang, Thailand.
While specific financial details remain confidential, the agreement secures Sanli EnGreen’s exclusive rights to sell the electricity output generated by the PV system to Deesuwanresort for a substantial period of 20 years from the commencement of the operations.
This strategic collaboration between Sanli EnGreen and Deesuwanresort aims to contribute to Thailand's renewable energy goals and towards the establishment of a mutually beneficial, long-term partnership.
After the initial 20-year period, Sanli EnGreen will facilitate a smooth transition by considering the options for the future of the PV system in alignment with both parties' interests.
Sanli says it is excited about the potential impact of the landmark project and remains dedicated to championing sustainable projects in the region. “This PPA marks a significant milestone in Sanli’s venture into renewable energy, with this PV system being our maiden project in Thailand,” says CEO Sim Hock Heng.
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“This collaboration also justifies Sanli’s joint venture strategy to penetrate new markets and I am optimistic that this will be the first of many to come as we grow our renewable energy business in Thailand and the region, as part of our long-term sustainability goals,” he adds.
Shares in Sanli Environmental closed 0.2 cents lower or 2.04% down at 9.6 cents on March 5.
