July 23, 2012 00:00 By Sucheera Pinijpalakarn The N
Kasikornbank is appointed the financial advisor for the infrastructure fund, which will raise Bt5 billion for 7 solar farms of SPCG Plc.
Krisada Lamsam, a senior executive vice president at KBank, said that the Solar Power infrastructure fund is likely to receive a warm welcome from investors due mainly to its solar farms’ high business potential with good locations, a secure revenue source under the long-term contract with the Provincial Electricity Authority, low operating costs and project aim that is in line with the government’s policy of renewable energy promotion. Kasikorn Asset Management will act as the manager of the fund, while the fund’s dividend to be paid to unitholders will be tax-free.
The seven farms has acombined capacity of 52.22 megawatts, or 7.46 MW each, would generatepower of 41 MW in commercial operations to the PEA under the five-year purchasing contract, automatically extended every five years.
Kasikorn Asset Management will act as the fund manager, while the fund's dividend to be paid to unitholders will be tax free.
SPCG President Wandee Khunchornyakong said that the group is developing a total of 34 farms with a total capacity of 240 MW. All are scheduled to be completed by 2013 with a total investment of Bt24 billion.
The fund will finance the 10th to 16th projects. They are scheduled for completion in this quarter and then the infrastructure fund's unit trusts would be available for subscription.