Thai-based solar developer completes 84 MW PV plant in Lopburi

Investment in the Lopburi project amounts to more than 10 billion Thai Baht (US$335 million) with an expected return of investment within 10 years at Bt1.3 billion annually.

The Asian Development Bank granted a long-term loan of Bt2 billion for the first phase of the project.

Phase one was completed in 2011 but only reached full production capacity in March, according to a report in Thai English language daily The Nation.

The plant consists of 540,000 Sharp solar panels with Natural Energy having signed a PPA with the Electricity Generating Authority of Thailand.

Natural Energy is a joint venture between CLP Thailand Renewables, a subsidiary of CLP Holdings; Diamond Generating Asia, a Mitsubishi Corporation subsidiary; and Electricity Generating. Each company owns a one-third share of the project.

The Thai-based developer is seeking further joint-venture opportunities to expand the Lopburi park.