Industrial estate developer Pinthong Industrial Park Plc (PIN) plans to allocate 1.6 billion baht to invest in renewable energy projects by installing floating and rooftop solar panels at its industrial estates.
The floating solar panels will be installed on a reservoir spanning 300 rai at its industrial complex, while the investment in rooftop solar panels is for another five industrial estates with total area of 1.3 million square metres, said Surach Patanawongyuneyong, chief operations officer of PIN.
"The company is in the process of developing the two projects. We expect them to be completed so we can start recognising revenue in the second quarter of next year," he said.
PIN operates six industrial estates in Chon Buri and Rayong.
The company is developing a new logistics park for rent on 200,000 sq m in Chon Buri. The park houses facilities including factories and warehouses that can be leased to business operators.
"Investors showed interest in renting our factories and warehouses to serve their new investments and business expansion, thanks to the state promotion of Eastern Economic Corridor (EEC) and the reopening of the country," said Mr Surach.
The EEC covers parts of Chon Buri, Rayong and Chachoengsao, aiming to become a high-tech industrial hub hosting 12 targeted S-curve industries, including electric vehicles, smart electronics, and affluent, medical and wellness tourism.
PIN said earlier it was in talks with prospective investors who are interested in buying its industrial land in order to expand their investments in Thailand.
The company is accelerating sales in the fourth quarter this year by providing a one-stop service to facilitate its customers, taking advantage of the EEC scheme.
For the first nine months this year, the number of investment projects in the EEC increased by 8.5% year-on-year to 98, according to the government.
