Bangkok--9 Jul--Telecommunication and Allied Industry Club
The LOI Signing Ceremony for 50 MW Solar Farms ProjectbetweenThai Appliance Industry Plc, Pacific Star(China Holding )Pte Ltd. and Asiatic Group (Holding )Ltd.With The Great Support of Thai Electrical, Electronics, Telecommunication and Allied Industry Club(EETIC)
LOI Signing principals:
1.Mr. Paul JH Leong, Chief Executive Officer , Pacific Star (China Holding) Pte Ltd.
2.Mr. Tan Boon Kheng, Managing Director, Asiatic Group (Holdings) Ltd
3.Mr. Polsak Lertputipinyo, Managing Director, Thai Appliance Industry Public Company Limited
VIP Witness:
1. Mr.Visnu Limwibul, Chairman of Thai Electrical, Electronics, Telecommunication and Allied Industry Club
2. Dr. Katiya Greigarn, Honorary Chairman of Thai Electrical, Electronics, Telecommunication and AlliedIndustry Club
Participants:
Thaico's Shareholders, The Members of EETIC and FTI.
Mr.PolsakLertputipinyo , The Managing Director of Thai Appliance Industry Public Company Limited (Thaico) says that Thaico was formed by The members of The Electrical, Electronics, Telecommunication and Allied Industry Club (EETIC) under The Federation of Thai Industries ( FTI ) since 2003, to focus on the Research & Development activities and Innovation to build the Top Quality Thai brand products and create opportunity for Thai Industries and the EETIC's members.
Thaico realizes the importance of Foreign Direct Investment as well as the need for sustainable energy sources by investing in the Renewal Energy Sector, as well as to capture the potential stable income for long term according to Thaico's Business Plan. In March, 2015 Thaico Board of Director have decided to invest into the Solar Power Plant Project for Government and Agricultural Cooperatives which is last in 25 yearsaccording to the Government Gazette's Announcement dated March 13th 2015.
With the great support from Thai Electrical ,Electronics, Telecommunication and Allied Industry Club under Thai Federation of Thai Industries, Thaico was introduced to the Foreign Direct Investment or " FDI " by PK International led by Mr. Promvit Klampaiboon who later became the investor of the Solar Power Plant Project for Government and Agricultural Cooperatives.?
General of Cooperation is to set up a Joint Venture company name " Thaico Energy Company Limited "or"TEC"with itsShareholder Structure is as followsThai Appliance Industry Public Company Limited and its partners hold 60 %Pacific Star (China Holding) Pte Ltd and their partners including Asiatic Group (Holdings) who will invest, fund and manage the project will be offered to hold 40 %.
The main purpose of the Cooperation is to invest into the Solar Power Plants, size is less than 5 Mega Watts peak (WMp ) and start with the initial phase at 10 sites or 10 plants. The project cost of one Power Plant is approximately 300 Million Baht per one of 5 MWp while the Total Project Cost for 10 plants is around 3,000 Million Baht and imply to generate Electrical Power approximately 50 Mega-Watts peak.However the Lead time to complete one Power Plant is around 4-6 months while the entire project for 10 Power Plants is supposed to complete within 10-12 months.
For Reference:
According to the Government Gazette's Announcement dated March 13th 2015, here is the summary of the Solar Power Plant Program for Government Agencies and Agricultural Cooperative policies.
- The Solar Power Plant size shall be a Very Small Power Plant (VSPP) or less than 5MWp while the power generated from the entire mentioned program is ~800MWp.
- This is the Feed In Tariff program, the Selling Price (to PEA) is at 5.66Baht/KWp for the 16% of Capacity Factor or 1,405,440 KWp / MWp / Year while the Selling Price of the less of total Capacity Factor is at the average of Selling Price that EGAT (Electricity Generation Authority of Thailand ) sell to PEA (Provincial Electricity Authority ).
EGAT: Electricity Generation Authority of Thailand
PEA: Provincial Electricity Authority
- The Project Owner shall be the Government Agency or Agricultural Cooperative while the Project Sponsor or Investor shall be the Company Limited or the Public Company Limited.