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Solar Farm "Korat 3" Inauguration Ceremony

Nakorn Ratchasima/Bangkok: Mr. Arak Chonlatanon, Minister of Energy presided over the inauguration ceremony of the solar farm "Korat 3", welcomed by Mr. Noppol Milinthanggoon, CEO of Ratchaburi Electricity Generating Holding Public Company Limited and  Ms. Wandee Khunchornyakong, Chairman of SPCG Public Company Limited and CEO of Solar Power Co., Ltd., on June 17, 2012.

Korat 3 solar farm is one of SPCG's thirty four solar power projects.   The project is located in the Northeastern region, in Amphur Sida, Nakornratchasima province.   The farm has 95 rai 31 sq. meter of area. The THB 650 million Korat 3 project is jointly invested by the two partners: Solar Power Co., Ltd. and Ratchaburi Electricity Generating Holding Public Company  Limited with its paid-up registered capital of THB 162.5 million. The remaining project finance is funded by Kasikorn Bank Public Company Limited and Bank of  Ayudhaya  Public Company Limited.   The project was commercially operated and distributed electricity to the power grid since March 9, 2012.

Mr. Arak Chontalanon, Minister of Energy said after the ceremony,   "The government has promoted progressive energy development plans which will boost our power industry as the country's strategic source of incomes.  In addition to the government fully supports on basic infrastructure projects for power industry, we also aim to be the regional hub of power sector supported by the strategically geographic  location.   In order to stabilize and secure the country's energy system, the power generation development and energy exploration both from domestic and overseas are highly required, as well as energy diversification to maintain our sustainability of supply.

Mr. Noppol Milinthanggoon, Chief Executive Officer of the Ratchaburi Electricity Generating Holding Public Company Limited disclosed that "According to the Company's investment strategy, a development in renewable energy business accounts for one of the Company's three core businesses.  The emphasized investment on solar, wind and biomass energy has been conducted in response to the Government's policy. Its goal are to replace imported fossil fuel for energy consumption and to increase the energy system's stability substituted by renewable energy diversification for partially occasions.  During the past three years, the Company's renewable portfolio has continually grown. With more than THB 3 billion of investment fund, the Company currently has 15 renewable projects with 103 megawatts in total installed capacity, of which 11 projects are solar farms. Besides SPCG Public Company Limited is our business partner who takes an important part to cherish our renewable project's success. Integration with our business strength and expertise in power generation, the Company and SPCG look forward to extensive collaboration on further development of additional solar power projects in order to benefit the country, the social as well as the environment as a whole. 

The Provincial Electricity Authority (PEA) has granted "Korat 3" solar farm a non-firm power purchase agreement for very small power producer. It has also  been subsidized the THB 8 adder tariff  from the  Power  Development Fund under Energy Regulatory Commission for 10 years and commercially operated earlier in March, 2012. In addition to the "Korat 3" solar farm, RATCH also has 2 more collaborative solar power projects with Solar Power Co., Ltd.; Korat 4 and Korat 7.   The installed capacity of each farm is 6 megawatts and all located in Nakorn Ratchasima province.  There are additional 8 solar power projects, which RATCH has jointly invested with Solarta Co., Ltd.   The overall solar capacity in accordance to the Company's shareholding is 23.98 megawatts and projected to start generating electricity by the end of this year.

Media Enquiries:
Public Relations Department
Wiwan Phayakvichien, Nuannang Changadveja
Tel: 0 2794 9941, 0 2794 9944
E-mail: wiwanp@ratch.co.th

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