BCPG Public Company Limited, a leading renewable energy company in Thailand and Asia-Pacific, has announced the establishment of a new subsidiary “BCPG Formosa Co., Ltd.” (BCPG Formosa) to fully expand solar power business in Taiwan. The new subsidiary is also aligned with BCPG’s growth plan in extending 2-time production capacity in 5 years.

According to Bundit Sapianchai, BCPG’s CEO, BCPG will acquire 100% equity in BCPG Formosa with an authorized capital of TWD 82 million. The company registration is expected to be complete within 2021.

“Taiwan is a potential area to develop clean energy projects. The country’s government aims to be less reliant on nuclear power by focusing more on clean energy investment. Within 5 years, Taiwan will develop more than 13,000 MW from solar power. We see this as a competitive opportunity to expand our solar power business in Taiwan with total production capacity of more than 1,000 MW in the next 5 years, which is in line with BCPG’s current market share in solar business in Thailand”, said Bundit.