Solar Power | Two Solar Power Projects Granted Start-up Loans
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Solar Power | Two Solar Power Projects Granted Start-up Loans

Gunkul Powergen won a Bt490-million loan from Krung Thai Bank to finance the first stage of its 30.9-megawatt power plant in Phetchabun province’s Chon Daen district, while Bangkok Bank has lent Bt70 million to Deyiam Solar

Power for its 1MW solar-power plant in Ubon Ratchathani.

Gunkul Powergen, a subsidiary of Gunkul Engineering, plans to commence commercial operations of its solar-

power plant by December.

Gunkul Engineering chief executive Gunkul Dhumrongpiyawut said KTB’s loan, given at a special interest rate over an eight-year period, would enable the company to operate the first phase of its project, a 3MW solar-power plant. He said the project was expected to break even in seven years.

The energy created will be supplied to the Provincial Electricity Authority (PEA) under a long-term Power Purchase Agreement (PPA) and, under the Energy Ministry’s incentives, Gunkul will be granted a special tariff of Bt8 per unit for 10 years.

Gunkul said the entire project should be completed by 2012. During the first phase, the plant will start producing 4.4MW by next year, and increase it to 23.5MW by 2012.

Each plant needs an investment of about Bt110 million, not including land cost, he said.

To raise funds, Gunkul Engineering will float 100 million shares in an initial public offering this week, with Tisco Securities as the underwriter. The IPO will raise Gunkul Engineering’s paid-up capital by Bt100 million to Bt400 million.

In a move to make the most of solar-power development in Thailand, Gunkul Engineering is negotiating with Solar Frontier (Japan) to be the only distributor in the Kingdom, the CEO said. A seminar on solar energy will be held on October 7 to provide knowledge for operators who have won supply contracts from the Energy Ministry but

have not made a decision yet.

Udomsak Rojviboonchai, executive vice president and director of KTB’s Metropolitan BC

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