CBD wins Thai solar contract

Australian developer CBD Energy says it has sealed an agreement with Environmental Engineering Group Thailand (EEG) to build a 64MW solar project there that will require a $112m investment.

The Sydney-based company says it will earn a $6.08m pre-tax profit from the project’s construction and anticipates recognition of those earnings in 2015.It did not make public the contract value.

CBD says before construction begins EEG expects to sell the project to a Singapore-based financial institution, which it did not name.

The project has a 25-year power off-take agreement with the Thai Provincial Electricity and will provide power for 17,280 homes..

CBD estimates it will take 10 months to build and bring into commercial operation.