Korea, Thailand firms to invest in PH solar power cos

Visual from the Shinsung website

Korea-based solar firm Shinsung Solar Energy and Thailand’s Chow Steel Industries are both planning to invest in solar companies in the Philippines.

Chow Steel is mulling to invest up to $43 million (1.5 billion baht) in 25-megawatt solar power plants in the country, while Shinsung is studying to make its investment next year.

A steel billet producer, Chow Steel also expressed its intention to expand operations in Japan after investing in 18-megawatt solar projects.

Also read: Filipino cos form JV to invest $600m in solar power projects in SEA

Meanwhile, Shinsung’s senior executive vice president Dr Young Hyun Cho told reporters that they are also looking into investing in other countries aside from the Philippines for its present and targeted projects based on an area’s power demand.

He said Shinsung is searching for local partners in Mongolia, Vietnam, Thailand, Uzbekistan, and the Philippines.

Cho noted the solar project in the Philippines might range up to 100MW but declined to give investment figures. It seeks a dialogue with private companies first and Philippine government next.

Also read: PH property developer MRC to form solar energy firm

The Korean-listed company has a total capacity of 570 MWs, and features an advanced N-Type cell technology, which Cho claimed is more efficient than most solar cells in the market.

The executive added Shinsung Solar can install ground-mounted solar panels in mountains and sea floating solar modules.

As for Thailand’s Chow Steel, it already assigned Premier Solution Philippines Co Ltd to develop solar power plants. Chow Steel indirectly owns the Philippine company through its unit Chow Energy where it has 76.67 per cent ownership.

Also read:

Exclusive: TSF, SUMEC JV to launch Thailand’s first solar leasing biz

Mercurius Capital to raise $300m PE fund for solar energy projects in Caribbean

Thailand’s UWC eyes four JVs for renewable energy

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.