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Inauguration of the Largest Floating Solar Power Plant in Thailand Could Revolutionize the Market and Open New Opportunities for Investments
The new solar power plant in Thailand will supply an entire small town with its generation of electricity in the market. This plant is a sustainable solution for electricity production, which has found a new way to repurpose the properties of water to increase the productivity of solar panels.
Read More News from the Renewable Energy Sector
Giant Floating Solar Power Plant in Thailand
The solar power plant in Thailand is set to open in June this year. The initial investment costs are $27 million.
After installation, the floating solar power plant in Thailand is expected to increase renewable participation by 37% in Thailand. The estimation is that by the year 2036, the share of renewable energies will increase by about 37% in Thailand. Each of the segments is approximately 130 meters long and over 30 meters wide.
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Renewable energy sources are gaining global prominence by driving the energy transition and reducing environmental impacts in the face of advancing climate change.
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The most critical moment in the installation of the new plant is during the fitting. The connection points of the solar panels are tiny and require heightened attention and practice.
The water cools the photovoltaic modules, making them 15% more efficient than the commonly used modules on houses. 16 new solar power plant projects are already being planned in Thailand for the coming years.
Thailand and the Renewable Energy Market
Thailand aims to expand its horizons in the field of clean energy sources with the creation of the new solar power plant. The country’s future plans consider various sources, especially solar, hydroelectric, and biomass energy.
Thailand is one of the leading developers of clean electricity in the region, and in 2016, the country entered the Top 15 globally according to the International Renewable Energy Agency (Irena) as the leader in Southeast Asia in solar energy use.
Solar Energy Market During the Pandemic
Despite the voracious effects of the pandemic, the solar energy market remained strong, especially in Brazil, achieving unlikely growth during this period and attracting new investments.
According to Aneel, Brazil recorded 74,428 new solar installations in the first half of last year (2020). The amount of energy generated is approximately 898 Megawatts.
The overall increase in the renewable market was due to the acceptance of the Brazilian public, especially companies, on how the use of solar energy could provide benefits.
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