SPCG vows 34 solar farms launched by 2013
SPCG is confident that it can completely launch all 34 of its planned solar farms worth Bt24 billion by 2013. These power plants will have a combined capacity of 204 megawatts,Wandee Khunchorn-yakong, chairman and chief executive officer, said yesterday.
This kind of project was a new business for Thai financial institutions, so they were lending only 60 per cent of a project’s value, she said. But after the company constructed five plants and started to realise revenue, institutions have felt more comfortable with the projects and are willing to go higher, or 70 per cent of total project value.
The company has been in talks with Kasikornbank, the Inter-national Finance Corporation, which is the financing arm of the World Bank, and Bank of Ayudhya for possible loans for the rest of the projects.
Its five existing plants have a combined capacity of 30MW.
SPCG is constructing four projects and preparing sites for seven more.
It is also working out a plan to raise funds for the new projects. Now many companies have proposed to be partners in the 17th to 34th plants.
Its seventh to ninth plants already have Ratchaburi Electri-city Generating Holding as a partner, Wandee said.
SPCG, formerly known as Steel Intertech, has registered capital of Bt500 million. It has consolidated with solar-farm operator Solar Power.
