World Bank Investing USD$ 1.7 Million In Thai Solar Power

[george]

IFC involves in solar power development in Thailand

BANGKOK: -- International Finance Corporation, the investment arm of World Bank, is investing US$1.7 million for a 20 percent stake in Solar Power (Korat 1) Co Ltd, the largest solar power plant in Southeast Asia, to expand private power generation while helping develop rural Thailand.

Solar Power (Korat 1) owns and operates a 6-megawatt grid-tied solar power plant in the Nakhonratchasima Province, an area with one of the best solar resources in Thailand. The project supports the government's goal of generating at least 20 percent of energy from renewable sources by 2022, which will improve the supply of clean energy, help move Thailand toward low-carbon growth, and reduce the country's reliance on imported energy. The solar farm will displace an estimated 4,785 tons of carbon dioxide equivalent annually, boosting global climate change mitigation efforts.

SPC Korat 1 is majority owned by Solar Power Co Ltd or SPC, a Thai developer of large, grid-connected, solar photo-voltaic projects. The developer has secured 34 licenses to build and operate grid-connected solar farms across Thailand. SPC Korat 1 was created to develop the first of these licenses and its 6-megawatt solar power plant went into operation in April 2010.

"We are very happy to have IFC as a partner in this first project to provide a cleaner and more sustainable energy source for our country," Wandee Khunchornyakong, managing director of SPC, said in a statement. "We are considering other renewable energy investments and we look forward to working with IFC on these projects in the future."

IFC's investment in this first project represents the start of a partnership with SPC with plans to co-invest in some of the future solar projects as well as in SPC itself. If fully exercised, IFC's investment rights in SPC and its related companies could amount to as much as US$20 million. SPC Korat 1 also has received a minority equity investment from the Energy for Environment Foundation and debt financing from Kasikorn Bank.

Anita George, IFC Director for Infrastructure, said "IFC's support to renewable energy generation in Thailand, specifically solar, will encourage similar investments in the region. And also we look forward to working with SPC, a Thai sponsor whose management has decades of experience in the solar industry, to help them replicate their success with this project on future sites."

Since 2005, IFC has invested more than $1 billion in renewable energy projects. IFC's strategy in Thailand focuses on enhancing the competitiveness of the private sector; providing opportunities for populations outside the main urban economies, particularly in the northeast and southern provinces; and supporting environmentally and socially sustainable growth.

-- The Nation 2010-06-24

[gotlost]

Nice thought but how about the World Bank investing in some WATER.

[BadBoyBubby]

Then take a look here at this ridiculous situation, it is pretty dam_n unbelievable!

Firms paid to shut down wind farms when the wind is blowing - Telegraph

The world has gone mad, especially the Brits!

[dinooz]

Nice thought but how about the World Bank investing in some WATER.

Personally I think its fantastic that the World Bank is investing in renewables in Thailand,I know there is a drought but water restrictions and water management is something I feel is up to the Thais to understand and implement not the world bank,you thinking more dams? Then ya cant blame the Chinese for the Mekong probs ,double edged sword,water conservation is the answer, stop the waste

....good on the World Bank for investing in Solar power

[gotlost]

Nice thought but how about the World Bank investing in some WATER.

Personally I think its fantastic that the World Bank is investing in renewables in Thailand,I know there is a drought but water restrictions and water management is something I feel is up to the Thais to understand and implement not the world bank,you thinking more dams? Then ya cant blame the Chinese for the Mekong probs ,double edged sword,water conservation is the answer, stop the waste

....good on the World Bank for investing in Solar power

How about desalination. Even you are brain washed on dams.

[tigerbalm]

Probably a safer bet than nuclear power

[BadBoyBubby]

Nice thought but how about the World Bank investing in some WATER.

Personally I think its fantastic that the World Bank is investing in renewables in Thailand,I know there is a drought but water restrictions and water management is something I feel is up to the Thais to understand and implement not the world bank,you thinking more dams? Then ya cant blame the Chinese for the Mekong probs ,double edged sword,water conservation is the answer, stop the waste

....good on the World Bank for investing in Solar power

The World Bank! The world bank is simply looking to screw anyone and everyone for as much cash as they can get, they are not concerned about renewable anything, their only concern is return on investment!

Like the world bank, the IMF etc, are a CHARITY?????

[dinooz]

Nice thought but how about the World Bank investing in some WATER.

Personally I think its fantastic that the World Bank is investing in renewables in Thailand,I know there is a drought but water restrictions and water management is something I feel is up to the Thais to understand and implement not the world bank,you thinking more dams? Then ya cant blame the Chinese for the Mekong probs ,double edged sword,water conservation is the answer, stop the waste

....good on the World Bank for investing in Solar power

How about desalination. Even you are brain washed on dams.

I mentioned dams sarcastically you want desal? need a lot of electricity for that thinking nuclear or solar power?

[dinooz]

Australia is one of the driest continents on this planet, we have had drouights that make the present one here look like a walk in the park,for starters I dont see gutters on buildings/houses harvesting rainwater for drinking and household use it isnt stored it just washes away so maybe the world bank can supply water tanks and guttering that would help,desal wont help the north east ,apart from the prohibitive costs of production.infrastrucure and electricity demands ,on top of a pipeline, come on that aint feasible here..its like the rest of the probs here, Education on conserving water and again... good on world bank for getting into solar...... way to go

[mahtin]

Woot for Thai German in Khao Suan Kwang?

[dinooz]

Nice thought but how about the World Bank investing in some WATER.

Personally I think its fantastic that the World Bank is investing in renewables in Thailand,I know there is a drought but water restrictions and water management is something I feel is up to the Thais to understand and implement not the world bank,you thinking more dams? Then ya cant blame the Chinese for the Mekong probs ,double edged sword,water conservation is the answer, stop the waste

....good on the World Bank for investing in Solar power

The World Bank! The world bank is simply looking to screw anyone and everyone for as much cash as they can get, they are not concerned about renewable anything, their only concern is return on investment!

Like the world bank, the IMF etc, are a CHARITY?????

Your right Thailand dont need 1.7 mill for Rand D in solar, sorry for not seeing it as greed on behalf of the World Bank Thailand dont need any help its economy is just fine,I bet any other country wouldnt knock back 1.7 mill

[Replogle]

I agree with the gentleman above. If Thailand was serious about its future, they would shrug-off the phony "Green Energy" propaganda and fully embrace nuclear water desalinization coupled with a revamping of their entire retail electrical distribution systems.

On edit: Build two, and cut the cost of electricity for consumers. Thailand possesses the capital to carry it through to fruition. What better way to help the poor?

Edited June 24, 2010 by Replogle

[bf2002]

I agree with the gentleman above. If Thailand was serious about its future, they would shrug-off the phony "Green Energy" propaganda and fully embrace nuclear water desalinization coupled with a revamping of their entire retail electrical distribution systems.

On edit: Build two, and cut the cost of electricity for consumers. Thailand possesses the capital to carry it through to fruition. What better way to help the poor?

If you haven't read the English newspapers in Thailand regularly, you might not realize their is a grass root level opposition to nuclear power by certain NGOs. They are stirred up by greenpeace international reps who are selling the same anti-nuclear propoganda that slowed down the development of nuclear energy in the States. These greenpeace types, who breed local Thai opposition, are selling the same ridiculous "clean coal" agenda. When was coal ever clean...the stuff is black and made of carbon.

Every time the Thai govt looks in nuclear power, these Thai NGOs stir up some villagers and kill the idea. I've read 3 articles on this in the 18 months I lived in LOS full time. Nuclear power will likely NEVER take off in Thailand.

Edited June 24, 2010 by bf2002

[Longtooth]

I agree with the gentleman above. If Thailand was serious about its future, they would shrug-off the phony "Green Energy" propaganda and fully embrace nuclear water desalinization coupled with a revamping of their entire retail electrical distribution systems.

On edit: Build two, and cut the cost of electricity for consumers. Thailand possesses the capital to carry it through to fruition. What better way to help the poor?

If you haven't read the English newspapers in Thailand regularly, you might not realize their is a grass root level opposition to nuclear power by certain NGOs. They are stirred up by greenpeace international reps who are selling the same anti-nuclear propoganda that slowed down the development of nuclear energy in the States. These greenpeace types, who breed local Thai opposition, are selling the same ridiculous "clean coal" agenda. When was coal ever clean...the stuff is black and made of carbon.

Every time the Thai govt looks in nuclear power, these Thai NGOs stir up some villagers and kill the idea. I've read 3 articles on this in the 18 months I lived in LOS full time. Nuclear power will likely NEVER take off in Thailand.

Do we give up on making the world last MUCH longer? Spend the money now spent on wars on R&D for HUGE bores toward the core of the earth, Inconel alloy (spelling probably wrong, {super-high temp rated stainless steel}) tubes with circulating liquid sodium metal as the cooling/heat-exchanging medium. (Don't forget the blowout head, alla the Gulf oil disaster.) But I'm still serious. What is the ultimate solution for our planet if it is to go thousands of years more? Going back to the stone age is another option.

[Everett]

Get the world bank out of here. They care nothing for you or your country.

Don't let the banks and corporations take over your country like in the US.

[anotheruser]

WOW $1.7 million.

[asiawatcher]

Nice thought but how about the World Bank investing in some WATER.

Concur - the rain is free too, it complies with negative carbon issues and certainly as essential as power - even more so. USD1.7M would go a long way to assisting the issues in the east, even the Red Shirt politics.

[chaoyang]

Agreed $1.7 million isn't much on an industrial scale, but people have to start and see if they can get this to lead somewhere productive.

Maybe I'm too simple, but it seems to me that using solar-heated water to drive turbines should be easier in a country as hot as Thailand -- less energy need to get it steamin'.

Edited June 25, 2010 by chaoyang

[elliss]

Probably a safer bet than nuclear power

no bout adout that .

AND, the more we reduce our reliance on oil , the better .

nothing personal,, BP .

[wester]

If you understand how tiny US$1.7 million is in comparison to the problem, you would laugh. But this headline does make great PR doesn't it?

[jombom]

Long article ----- how much per kwh info missing ----- show me the money.

[keith7777]

Australia is one of the driest continents on this planet, we have had drouights that make the present one here look like a walk in the park,for starters I dont see gutters on buildings/houses harvesting rainwater for drinking and household use it isnt stored it just washes away so maybe the world bank can supply water tanks and guttering that would help,desal wont help the north east ,apart from the prohibitive costs of production.infrastrucure and electricity demands ,on top of a pipeline, come on that aint feasible here..its like the rest of the probs here, Education on conserving water and again... good on world bank for getting into solar...... way to go

I guess you have not been to isan as every family who has a house there has collection jugs or tanks (those large containers made from mud or?), anyway I see them collect rain water and they drink it. I would not drink it but it does not seem to affect them one way or the other. You are right they do not have good means of storing water such as reservors, as when it rains it is not collected any place that I have seen. I have traveled all over northern Thailand and have seen nothing but beautiful crops everywhere. They say they have drought but I have never seen any evidence of it.