Singapore-based New Energy Capital Asia has signed a power purchase agreement (PPA) with UMC Metals to develop a 1.6 MWp solar project in Thailand. The project will have both floating and ground-mounted solar installations.
As per the 15-year-long agreement, New Energy Capital Asia will design, construct, and operate the project. It aims to generate 2,400 MWh of renewable energy (RE) annually. Additionally, it will reduce around 1,860 tons of CO2 emissions annually.