Bangkok--27 Sep--Bangkok Bank
Bangkok Bank has lent Baht 70 million under its Bualuang Green lending scheme to Deyiam Solar Power Ltd to build a solar power plant in Ubon Ratchathani. The plant will be able to generate up to 1 megawatt in energy. This reflects the bank’s intention to provide financial support to businesses wishing to invest in an energy-saving or alternative energy project in order to reduce environmental problems and relieve the impact of global warming.
Bangkok Bank Executive Vice President, Virasak Suthanthavibul said Bangkok Bank is very pleased to provide Bualuang Green loan support to the solar power plant project of Deyiam Solar Power Ltd, a subsidiary of Thai Agency Engineering. The bank supports Thai SMEs investing in energy-saving and alternative energy projects because it is aware of the dangers of global warming and the possibility of an energy shortage crisis.
Deyiam Solar Power Managing Director, Panu Tanomvorsin said the company is seeking new energy sources to produce electricity with an emphasis on clean energy which doesn’t pollute or harm the environment. The solar power plant is situated on a 10 rai plot in Muang Samsib district, Ubon Ratchathani province and will receive average solar radiation of 19-20 mega-joules/sq.m./day. The plant has a maximum capacity of 1 megawatt, using a combination of Solar Photovoltaics technology and a PV Grid connected system. The project is valued at Baht 120.47 million and is expected to start generating power in February 2011.
Using this production system, the plant will initially receive direct current (DC) and then switch to alternating current (AC) before sending the electricity to the electricity supply system of the Provincial Electricity Authority. This system is the same as the 500-kilowatt Pha Bong Solar Power Plant in Mae Hong Son province. The company has decided to use the technology because of the Thai Agency Engineering group’s expertise.
“Deyiam Solar Power Ltd was established with the Thai Agency Engineering and Toyota Deyiam to build this solar power plant and take advantage of the government’s special tariff of Baht 8/kWh for 10 years. This is the highest rate the government has offered to alternative-fuel-generating electricity producers,” Mr. Panu said.Mr. Virasak added the Bualuang Green loan is a part of Bangkok Bank’s SME loan portfolio. Customers can take out a loan under the Bualuang Green scheme of Baht 1 million or more for each investment project. The maximum interest rate is MLR for the entire loan term (as of 19th July, 2010, Bangkok Bank’s MLR was 6.00% per annum). The loan term depends on the length of the project and the applicant. The bank will also waive loan management fees. The investment must meet one of five criteria, that is, it must invest in energy-saving projects and activities; develop alternative/renewable energy; support green label products; support waste management (turning waste into energy); or develop and produce bio-products (replacing chemical products).