SPCG Khon Kaen 1 Solar Plant

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Through its project company Solar Power (Khon Kaen 1) Company Limited (KK1), developed the 6MW Khon Kaen 1 Solar Plant. The project was owned by Solar Power Company (SPCG) and Thai Fa Power Company Limited. The project was located at: Bann Kro Sub District, Mueang District, Khon Kaen Province. The project commissioned in February 2012. The polycrystalline solar panels were supplied by Kyocera Corporation (Japan). The inverters were supplied by SMA Solar Technology (Germany). The projects by SPCG held a PPA with the Provincial Electricity Authority (PEA), for 5 years - open ended. The PPA provided for a feed-in adder of THB 8.0 on top of the base tariff for 10 years after commissioning. The projects receive tax benefits of 0% for the first 8 years, and half of normal tax rate for the 5 year following. The project had a debt/equity ratio of 70/30 and reached financial closure in December 2011. Total 'registered capital' was Baht 195 million (US$ 6.53 million). Given the debt/equity ratio of 70/30, and assuming the 'registered capital' refers to equity, total project cost is US$21.8 million, or US$3.6 million/MW. Kasikorn bank provided financing. http://www.spcg.co.th/solarpower/kk1/en/index.php