Thai Solar eyes funding options for extra 100MW

Thai Solar Energy expects it will need more than Bt8 billion to add 100 megawatts to the total capacity.

Chief operating officer Cathleen Maleenont said the company had switched to photovoltaic technology for its new solar plants because of their lower cost. Under the new PV technology, TSE has set up Siam Solar Energy 1 Co (SSE1) to develop 10 power projects with a total production capacity of 80MW.

The total investment for this is Bt7 billion, and Bangkok Bank has granted a credit line of Bt5.4 billion to support it. 

She said the first 40MW would be supplied to the Provincial Electricity Authority in April and the remaining 40MW would come online in June. The output of 80MW will generate revenue of Bt1 billion a year, which TSE will realise fully next year.

Since adding 100MW to total capacity will require a budget of no less than Bt8 billion,TSE has to increase its capital from Bt1.36 billion to Bt2 billion. Apart from securing lending from Bangkok Bank, TSE plans to raise funds through the capital market, floating an initial public offering and establishing an infrastructure fund.

Prapharat Tangkawattana, group chief financial officer of TSE, said the company was also interesting in developing biomass power projects because renewable energy is a sunrise industry in Thailand.

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