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Acciona Energia and its partner, The Blue Circle, have inked a 25-year power purchase agreement (PPA) in Thailand for five wind farms totaling 436 MW. The projects were selected through a bidding process by the Energy Regulatory Commission (ERC) and will be developed in phases.
The first wind farm is anticipated to begin construction in 2024. By 2030, all five projects will be completed. The energy generated by the five wind farms will be acquired directly by the electricity generating authority of Thailand (EGAT), a state-owned corporation under the minister of energy, for a 25-year period.
This PPA is part of Thailand’s ambition to add 30% renewable energy to its energy mix by 2037. Four of the wind farms will be placed in the northeast provinces of Ubon Ratchatani and Amnat Charoen. The fifth will be erected at Chaiyaphum.
The five wind farms will generate 1,141GWh of renewable energy each year while removing 645,000t of CO2 emissions from the atmosphere, which is comparable to removing 250,000 automobiles off the road or planting 19 million trees.
Acciona Energia, a subsidiary of Acciona, agreed to buy nearly 50% of The Blue Circle in September 2022.
The agreement comprised a $34 million investment and a $113.5 million commitment to assist capital expenditure projects that are ready to build.
The Blue Circle has 84 MW of installed capacity in Vietnam and a pipeline of 3.8GW throughout Vietnam, Thailand, the Philippines, Cambodia, Indonesia, Malaysia, and Sri Lanka.
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