CBD Energy to buy 30% of EEG

Australian developer CBD Energy has agreed to purchase a 30% stake in Environmental Engineering Group Thailand (EEG), giving it access to the company’s 100MW pipeline of solar projects.

It did not reveal the terms of the deal.

As part of the agreement, CBD Energy — which holds the exclusive global rights to market its PV projects under the Westinghouse Solar name — will allow EEG to use the brand in Thailand.

"We feel Thailand represents an incredible opportunity to capitalise on a rapidly developing market with growing power needs," Gerry McGowan, executive chairman of CBD Energy, said in an online statement.

Separately, Sydney-based CBD Energy and EEG also recently agreed to jointly build 64MW of PV capacity in Thailand.