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NEWS UPDATES 4 August 2010

Wind farm initiative in Thailand

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Thailand is the site for a cross-Atlantic combo to initiate a series of wind farms across Asia.

A 90-megawatt wind farm 250 kilometers northeast of Bangkok, the Thepsathit Wind Farm, will be a joint venture of U.S.-based General Electric and German wind-farm developer, Pro Ventum. The GE financial unit, GE Energy Financial Services and Pro Ventum will together hold 50 percent of the project with Thai banks, the Asian Development Bank and other lenders picking up the balance.

Reiner Zoller, CEO of Pro Ventum International, at a press conference, said that 300 megawatts of wind power are in the planning for Thailand. GE and Pro Ventum went toThailand as their first investment destination for wind farms in Asia due mainly to the country's strong commitment to renewable energy and supportive legislation, said executives.

Wind energy qualifies for an adder tariff of 3.5 baht per unit (kilowatt/hour) and incentives granted by the Board of Investment. The government aims to lift the use of renewable resources to 20 percent of the country's power generation by 2021, from the current 8 percent

GE yesterday signed a memorandum of understanding to supply 36 units of GE's 2.5- megawatt wind turbines to Thepsathit Wind Farm, totalling more than 200 gigawatt hours per year and displacing 275,600 tons of carbon dioxide. Development is slated to start the first quarter of next year.

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