SPCG secures loan from Clean Technology Fund

 Together with the IFC, a financial arm of World Bank, the fund, Kasikornbank, Bank of Ayudhya and Thanachart Bank have created a financing facility worth Bt890 million, to finance two solar power projects.
 “IFC is a trusted partner at every development stage of our renewable energy investment plan,” said
Wandee Khunchornyakong, chairman and CEO of SPCG which owns Solar Power Co Ltd - the developer of the two solar power plants. “The financing by IFC, the Clean Technology Fund and other partner banks is critical to the realisation of our target to have 204 megawatts of solar generating capacity operational by
2013." 
 SPCG is the first company in Thailand to be provided funding from the Clean Technology Fund (CTF), a multi-donor facility administered by the World Bank that promotes scaled-up financing for demonstration,  deployment and transfer of low-carbon technologies with significant potential for long-term greenhouse gas emissions savings.
 KBank was appointed the mandated lead arranger for SPCG for a Bt890 million syndicated loan.  Of the total, KBank provides Bt210 million, BAY and Thanachart Bank Bt158 million each, IFC Bt244 million and CTF Bt120 million.
 SPCG's two plants follow the successful development of other solar farms by the company which has secured 34 licenses to build and operate grid-connected solar farms across the country.
 IFC previously invested US$2.8 million in equity in Solar Power's first three 6MW solar power plants in northeast Thailand.