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Aiming Zhou - Case Studies of 567KW Rooftop Solar PV in ADB HQ and NED Solar Farm in Thailand
Aiming Zhou - Case Studies of 567KW Rooftop Solar PV in ADB HQ and NED Solar Farm in Thailand
Content
ADBs Current Clean Energy Investment Examples of Solar Project Financing by ADB ADBs Rooftop Solar Project in 2011 Thailand 73MW Solar Project in 2010 Conclusions
ADBsCompositionofCEFinancing
(Cumulative20082010,inUS$million)
Total Energy-related Investment (2008-2010): $ 9.1 Billion Total Clean Energy Investment (2008-2010): $ 4.8 Billion.
Note: Others in the breakdown of RE projects pertains to biomass/biogas, waste to energy
Area of solar competitiveness 2020 2015 Solar Electricity Price Declining 2010
10000
MWh
1000
100
10
1
>27 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 2 3 4 5 6 7 8 9
ADB
PPA
Power
Portion of Facility Building rooftop is leased for 15 years at $1/sq meter, total estimated area size is 5,166 sq meter Solar power is sold to ADB at the rate decided by the bidding Financing (commercial financiers) Construction (567 kWp) Operation (~ 600 MWh per year) Transfer (buyout option within 15 years and free at year 16)
Suntech/Propmech Consortium
Loan Repayment
Business Financing
Commercial Financier
Inverters
Switch 600MWh/yr
Busbar
The solar system supplies about 3% of the electricity consumption in ADBs complex
Highlights
No upfront cost to ADB
The business model uses a PPA between the Suntech/Propmech Consortium (Project Implementer) and ADB (End User), whereby the project implementers bear the investment cost and O&M costs and user purchase the electricity at bid price.
ADBs credit worthiness helps the consortium secure non-recourse loan financing
PPA will help the project implementers to secure financing from local commercial financiers. With a 15-year PPA from ADB, this project becomes a bankable project
Challenges to replication
Challenges could arise in countries that have regulated and partially deregulated electricity markets. This model needs permission for third party-owned systems to sell to end users
Project Features
73 megawatt (gross) in Lopburi Province, Central Thailand. Thin-film Thailands first large, utility-scale solar generating facility. 5-year automatically renewable PPA between with Electricity Generating Authority of Thailand (EGAT) under the Small Power Producers Program. Multi-Sponsors: CLP Group, Mitsubishi, and the Electricity Generating Public Company.
Contractual Structure
17
Highlights
ADB loan
Thai Baht-denominated loan for $63 million equivalent (25% of project cost) 18 years tenor, back-ended equity injection, non-recourse project financing Attractive fixed rate in Thai Baht covering all disbursements and locked-in over the entire 18 years tenor
ADB grant
$2 million grant from ADBs Clean Energy Financing Partnership Facility to cover any contingency costs arising from the use of highly complex, innovative thin film PV technology on a large scale.
Thank You !
Contact:azhou@adb.org
Moreinformation: www.adb.org/cleanenergy