BCP set for solar farm boost

With an investment of 4.5 billion baht, Bangchak Petroleum Plc (BCP) projects its third-phase solar farm project will be operational by mid-2014, generating additional revenue of 1.2 billion baht a year for the SET-listed refiner.

The third phase is comprised of 48 megawatts of solar farms that will be located in Buri Ram, Prachin Buri, Chaiyaphum and Nakhon Ratchasima.

President Vichien Usanachote said subsidiaries have been set up to be responsible for solar farm investment in each location.

The construction will begin next month with the target of starting to supply solar power to the Provincial Electricity Authority (PEA) by the second quarter of next year.

Once operational, these projects will generate a turnover of 1.2 billion baht per year for BCP, he said.

BCP’s board earlier this week decided to award the solar farm construction contracts to two groups of companies; Solartron joining hands with China Triumph International Engineering, and Gunkul Engineering Plc with Trina Solar Energy Development Pte Ltd.

A total of five bidders joined the bidding for BCP’s third-phase solar programme.

The consortium of the SET-listed Solartron and China Triumph has been awarded the contract to build the solar farms in Buri Ram and Prachin Buri, while Gunkul-Trina Solar consortium won the contract for projects in Chaiyaphum and Nakhon Ratchasima.

Mr Vichien said the two groups are considered the leaders in solar energy in Thailand and China with international recognition.

Coupled with a solid financial background, they are qualified to be responsible for developing solar farms whose licences last 25 years.

Shares of BCP closed yesterday on the Stock Exchange of Thailand at 33.75 baht, up 50 satang, in trade worth 62.32 million baht.