Banpu Power LLC, a Thai power producer, will invest at least US$200 million in Texas renewable energy projects to add to its existing shale gas and electricity portfolios. The company has announced plans to build solar and wind projects totaling about 400-MW capacity in Texas. The move follows the company’s purchase of a Texas power producer earlier this year for US$430 million.
According to Banpu Power’s Chief Executive Officer Kirana Limpaphayom, Texas will likely account for 50% of Banpu’s global renewable portfolio by 2025.
“The United States has high energy demand and continuous growth, and in Texas alone, the size of demand is comparable to that of Thailand,” said Limpaphayom. “While demand in Thailand is growing each year, supply from power projects is also growing at the same pace, so there are more opportunities elsewhere.”
Banpu Power is a Thailand-based holding company engaged in power generation and the sale of electricity. The company’s investment includes power plants in China, Australia, Japan, and the United States.
“Texas is a booming place for renewable energy. It has plenty of wind, sunshine, and land that’s bigger than Thailand,” said Limpaphayom. “Opportunities for renewable power aren’t just limited to the US of course, but in the near-term, the focus will be in the United States.”
