The Asian Development Bank has announced it will make US$85 million available for the construction of three photovoltaic projects in Thailand, worth 57 MW.
The plants, to be located in Thailand’s Nakhonpathom and Suphanburi provinces, will be developed under the country’s very small power producer program. The generated electricity is expected to be sold to Provincial Electricity Authority.
According to the initial environmental examination submitted in February, construction is scheduled to take around 11 months to complete. Polycrystalline photovoltaic technology will be employed, with REC expected to deliver the necessary modules. Meanwhile, the inverters will come from SMA.
In addition to providing an around $52 million loan to Solarco Solar Co. Ltd, ADB has said it will make a further $33 million available to the special-purpose company, owned by Yanhee EGCO Holding Co., Ltd, under its Clean Technology Fund.
Overall, Solarco, which was formed as a joint venture company between Yanhee Solar Power Company Limited (YSP) and Electricity Generating Public Company Limited (EGCO), plans to invest around $240 million in the 57 MW project. Approximately 75% is expected to come from the banks, while Solarco has said it will invest the remaining 25% itself.