EREN Renewable Energy and The Blue Circle will partner to develop a significant portfolio of wind projects in Thailand.
Singapore-based renewable energy developer The Blue Circle Pte Ltd, primarily operating in the Mekong region (Vietnam, Thailand and Cambodia), today announce the signing of a Joint-Development Agreement with EREN Renewable Energy’s Southeast Asian subsidiary on July 15th 2015.
EREN Renewable Energy (“EREN RE”) is a global independent renewable energy power producer, which recently opened its regional headquarters in Singapore to manage its business activities across Southeast Asia.
The Blue Circle has been developing wind power projects in Thailand since 2013 with its subsidiary The Blue Circle Thailand and its Bangkok-based team of project managers. With a pipeline of more than 300 MW of wind projects at different stages of development, The Blue Circle Thailand is now partnering with EREN RE to bring these projects to completion.
“We are pleased to partner with The Blue Circle and their team in Thailand to combine our expertise and financing capacity with their strong regional knowledge. As we are building a worldwide portfolio of renewable energy power plants, we see Southeast Asia as one of the most promising regions for wind and solar expansion” said Fabienne Demol, Head of Business Development of EREN RE.
“As EREN RE’s team is made of real wind professionals with an impressive track record, we are thrilled to announce this partnership” stated Olivier Duguet, Chairman and Chief Executive Officer of The Blue Circle. He added “Thailand is one of the most advanced countries in Southeast Asia in terms of wind installed capacity and together with EREN RE, we want to invest and participate in its future growth.”
In addition to Armstrong Asset Management commitment to invest US$ 40 million in The Blue Circle wind energy projects, the deal signed today with EREN RE’s further strengthens The Blue Circle financial capabilities. Thus, EREN RE will share along with The Blue Circle the project development costs and is positioned to invest up to US$ 60 million into wind projects themselves.
About The Blue Circle
The Blue Circle is a developer of wind and solar energy projects in Southeast Asia. The Singapore based company looks to bridge the gap in project development in the region by bringing international project development experience, financial expertise and capabilities together with local market understanding. Its growth strategy is twofold: through the development of its own projects and through partnership with local developers. By being vertically integrated and having its own wind engineering team, The Blue Circle can identify green field sites, pursue project development milestones up until financing and operating of the generating assets.
About EREN Renewable Energy
EREN RE is a 100% subsidiary of EREN, founded in 2012 by Pâris Mouratoglou and David Corchia, who both show a significant successful track record in the renewable energy industry. Capitalized with EUR 600 million, EREN Groupe is the first company dedicated to natural resources efficiency, investing in and promoting innovative technologies in the sectors of water, infrastructure and energy. EREN RE develops power projects in countries where renewable energy represents an economically viable response to growing energy demands. Through partnerships established with local developers, EREN RE has accumulated a portfolio of over 525 MW of renewable energy assets in operation and under construction and over 1,500 MW of assets under development.
For further information, please contact:
The Blue Circle
Tel: +65 62594921
EREN Development Asia
Tel: +33 (0) 611431504