Gunkul Engineering closes financing for 170MW of wind projects

Construction News

Gunkul Engineering closes financing for 170MW of wind projectsThai developer Gunkul Engineering has secured financing to build three wind farms with a combined 170MW in Thailand.

The funds will support the 60MW Wayu, 60MW Greenovation and the 50MW Korat wind projects, owner´s representative Modern Energy Management said without giving more details.

The Wayu project in Nakhon Ratchasima province is expected to be completed before the end of the year,while Greenovation and Korat are due to open in 2017 and 2018, respectively.

Modern Energy advised on contracts, tenders and the financing of the projects and is also acting as owner´s engineer for their construction.

Thailand is aiming to secure 25% of its energy from renewable sources by 2036.

“Our success in completing the financing of these flagship projects shows that Thai wind is truly an investment-grade prospect,” Gunkul Engineering vice-president of strategic Planning and investment Janpon Ngamaroonchote said.