8 new solar farms to be built in Thailand

The THB4.4 billion project will have a combined capacity of 34.25 MW.

Baker & McKenzie recently represented Solarta Co., Ltd. (Solarta) in contracts negotiation in relation to the development, construction and financing of eight solar farm projects located in Ayudhaya, Suphanburi and Nakorn Pathom provinces, with a combined capacity of 34.25 megawatts.

The development of the eight solar farms will cost a combined THB4.4 billion, with 75% financed by loans from KASIKORNBANK Public Company Limited and Bangkok Bank Public Company Limited, with the rest from equity. The first of the eight solar farms began operation recently, and the remaining seven are expected to be completed by end of this year.

Solarta Co., Ltd. is a joint venture between SET-listed Ratchaburi Electricity Generating Holding Plc, Thailand’s largest private power producer and Yanhee Solar Power Co., Ltd., Led by Banking & Finance Partner Vit Vatanayothin in Bangkok, and supported by Associates Natthaphong Sirijirasuk, Permsak Krairiksh and Niti Muangkote, the Baker & McKenzie team represented Solarta in negotiating EPC contracts with offshore supplier and onshore contractors, and provided advice on the project financing issues relevant to this transaction.

Commenting on this transaction, Vit Vatanayothin said, “We are very pleased to be able to advise Solarta in this important project on full range. Our extensive experience on supply and construction contracts and project financing enabled us to structure, document and negotiate this transaction within the tight deadlines required to have it implemented.”