QTC Energy Plc has announced plans to develop a 220 MW solar farm in Myanmar by acquiring the Green Earth Power Thailand Company. The project will be implemented in four phases of 40 MW each. Phase I of the planned solar farm is expected to start commercial operations by March 2018. The plan to diversify into a renewable-power-generating business is part of the company`s strategy to substantially increase its annual revenue as well as to help reduce risks from running only the transformer-producing business.
QTC produces and distributes custom-made transformers for both the domestic and export markets.