Chiang Rai 9.5MW, Thailand

Chiang Rai

Sonnedix announces closing of project financing and start of construction of 9.5 MW in Thailand

20 June 2011

Chiang Rai Solar, a Sonnedix Group company in joint venture with Thailands Ch. Karnchang (CK) group, a major regional construction and infrastructure player, announces the closing of a 20 million Euro equivalent project financing and the start of construction of a 9.5MW photovoltaic Park in Chiang Rai province, Thailand. The park is being financed by Krung Thai Bank and constructed with the support of Assyce Fotovoltaica, an industry leader in the PV installation sector. The park is the second of several Sonnedix group solar parks in Thailand totalling over 20MW that are all scheduled to begin construction this year.

” We are delighted to close financing on this second solar project with CK and with the support of Krung Thai Bank. Thailands power is still 90% carbon-based, with a growing fraction of fossil fuels being imported at higher prices and putting increasing pressure on Thailand energy independence and trade balance. We look forward to working with our partners and regulators here in the long run to build and finance more decentralized, low environmental impact solar power plants, supporting Thailand power sectors move towards reliable, cleaner and carbon-light energy sources “, says Franck Constant, Director of Sonnedix during the signing ceremony of the loan agreement with Krung Thai Bank at Bangkoks Conrad Hotel on June 20th, 2011.

About Sonnedix: Sonnedix is an Independent Solar Power Producer (IPP) with a proven track record in delivering high performance cost competitive solar photovoltaic plants to the market. Sonnedix develops, builds, owns and operates solar power plants globally. Sonnedix currently owns over 40 megawatts (MW) photovoltaic (PV) power plants in operation or construction in Italy, France, Spain and Thailand and several hundred MW in development pipeline.

I’d put my money on the Sun and Solar Energy, what a source of Power! I hope we don’t have to wait until oil and coal run out, before we tackle that.

Thomas Edison in conversation with Henry Ford and Harvey Firestone, 1931