The Asian Development Bank has signed an agreement to provide US$88 million in loans and assistance for a 81-megawatt wind project in Thailand developed by Chaiyaphum Wind Farm Co.
ADB will provide a US$55 million local currency loan and US$30 million from the ADB-administered Clean Technology Fund to Chaiyaphum Wind Farm Co. The project, to be situated in Chaiyaphum Province, about 300 kilometers northeast of Bangkok, is developed as a public-private partnership under Thailand’s small power producer program.
Chaiyaphum Wind Farm Co. is a special purpose firm that is 90% owned by Electricity Generating Public Co. and 10% by Pro Ventum, an international wind power developer based in Germany. The developer will sign a power-purchase agreement with the state-owned Electricity Generating Authority of Thailand to provide clean electricity to the national grid.
The project is expected to start operating in late 2016. Thailand is targeting 1,800 MW of installed wind capacity by 2021, but it will need significant investment support from the private sector to achieve this goal with only 223 MW installed currently.