Chaiyaphum Wind Farm

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The 81MW Chaiyaphum Wind Farm reached financial closure in January 2015, as ADB and CTF signed US$85 miilion loan agreement. The BOO project worth of US$165.9million (THB5.4billion) would entail the development of a greenfield wind farm located in Chaiyaphum Province, Thailand. The project company was Chaiyaphum Wind Farm Co Ltd, 90% owned by Electricity Generating pcl - EGCO, first Independent Power Producer in Thailand established on May 12, 1992 and 10% owned by Pro Ventum Group, an international wind power developer based in Germany. Financing comprised US$55.429 million (THB 1.8billion) 18-year-1 month facilitiy provided by ADB and US$30 million 18-year-1-month loan through the ADB-administered Clean Technology Fund, a US$79.704 million (THB 2.6 billion) 15-year-1-month term loan and a US$0.766 million (THB25 million) 15-year-1-month working capital facility provided by Bank of Ayudya. The plant was expected to start commercial operations around December 2016. PPA was signed with Electricity Generating Authority of Thailand (EGAT). Thailand IPP Program PPA usually 20-25 years but not sure on this one. Development Bank Support ADB US30 million came from CTF