GPS Nakhon Sawan & Chai Nat Solar Plants

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G-Power Source Company, a subsidiary of Gunkul Engineering from Thailand, was developing four solar plants of 6.5MW each. The first 3 projects, Ta Khit and Ta Sang in Nakhon Sawan, and Dong Khon in Chai Nat, consisted of 19.5MW. Since 2012, 60% was owned by EGCO, from Thailand.EGCO purchased the equity via 4.5 million shares at a total amount of Baht 630 million (US$20.4 million). Total payments were Baht 738 million (US$24 million), which included a payment towards the development of the fourth plant (6.5MW). G-Power held 4 PPA agreements with the state-owned Provincial Electricity Authority (PEA), 6.5MW each. On top of the standard tariff, the projects were to receive Baht 8/kWh (US$260/MWh) in adder payments, from the Power Department Fund Management Division, of the Energy Regulatory Commission. The plants were commissioned on the following dates: 1 Mar 2012, 2 March 2012, 5 March 2012, 1 February 2013. Total cost were unknown, but estimated at US$2.8 million/MW (US$54.6 million). Financial closure date was ESTIMATED at March 2012, commissioning date of plants 1-3. http://www.bloomberg.com/news/2012-08-22/gunkul-plans-to-double-revenue-on-renewable-energy-power-plants.html Power in Asia, Thailands EGCO buys more solar plant, 12 April 2012