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.
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.
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.