Thailand’s Bangchak Petroleum to start 2nd solar plant
BANGKOK, March 7 - Bangchak Solar Energy Company, a Bangchak Petroleum subsidiary, will begin the second phase of its solar power project at Chaiyaphum's Bamnet Narong district, Bangchak Petroleum president Anusorn Saengnimnual said.
The company's board meeting on Wednesday approved the project's second 25-megawatt solar power plant under the Clean Development Mechanism (CDM) system, with SunTech Group and Solartron Plc being among the project's contractors.
According to Mr Anusorn, construction will start in April. The project is to be finished and ready for selling power to Provincial Electricity Authority by the end of this year, resulting in an increase of approximately Bt400 million for Bangchak's earnings before interest, taxes, depreciation, and amortization (EBITDA).
The president spoke of the progress of the first solar power project of 38 megawatts, begun before the recent flood, in Ayutthaya's Bang Pa-in district that some part of the electricity there could be sold this month and the rest will be finished by July.
Bangchak Petroleum plans to build solar power plants in accordance with its purchasing and selling contract of 118 megawatt electricity with Electricity Generating Authority of Thailand (EGAT) and the Provincial Electricity Authority.
The company invested Bt15 billion to complete its solar power plants by the beginning of 2014 and to become Thailand's leading alternative energy firm.