Solar Power Co (SPC) is preparing to raise as much as 24 billion baht in capital to finance solar farm power advancement.

The capital will come from a variety of channels such as joint ventures, bond problems, private placement and loans, with Kasikorn Securities because the company’s economic adviser, mentioned managing director Wandee Khunchornyakong.

SPC holds 34 licences for a combined capacity of 206 megawatts in different provinces underneath the government’s really modest power producer programme. All 34 solar farms is going to be completed by 2013.

The organization at present runs only one project, Solar Farm (Korat1) Co, which began operating in April last year.

This year, SPC plans to create 16 solar installations costing about 700 million baht every. Its second project is now planned in Sakon Nakhon and Nakhon Phanom provinces.

The company owns a 60% stake in Korat 1, with 20% held by the International Finance Corporation, 15% by the Energy Foundation for Atmosphere (E for E), as well as the rest by retail investors.

As portion of its investment technique, the business produced last month a reverse takeover of MAI-listed Steel Intertech Plc, a steel-roofing producer, positioning it to become the biggest solar farm developer in Southeast Asia.

“It would have taken too long if we had opted for an initial public providing,” stated Ms Wandee.

Soon after the takeover, Steel Intertech’s organization will transform from steel roofing to solar farms.

SPC last week signed a memorandum of understanding with the Provincial Electricity Authority (PEA) for a strategic partnership in renewable energy.

The partnership will also cover human resource improvement, engineering services, operating and upkeep, at the same time as monitoring services.