PNPC, a consortium composed of Ratchaburi Electricity Generating (RATCH) (25%), SK Engineering and Construction (26%), Korea Western Power (25%) and Lao Holding State Enterprise (24%) has closed the financing of the 410-megawatt Xe-Pian Xe-Namnoy hydropower plant in Laos.
On 28 November 2013, PNPC entered into the Syndicated Loan Agreement worth of THB 22,134 million (US$668 million), with Krung Thai Bank, Bank of Ayudhya, Thanachart Bank, and Export and Import Bank of Thailand. In addition, it also signed the EPC Agreement with SK Engineering and Construction for handling construction works to achieve the project's operation schedule.
The THB 32 billion (US$966 million) project will partially be funded from shareholders' capital about THB 9.5 billion(US$287 million).
About 370 megawatts or 90 per cent of the generating capacity will be distributed to the Electricity Generating Authority of Thailand under a 27-year power purchase agreement. The rest will be fed into Laos's electricity grid.
The project construction will start about end of this year and will take approximately 5 years before commencing commercial operation in 2018.
Once the construction is completed, the electricity will be transmitted to Ubon Ratchathani sub-station, Thailand, through 500 kV grid. It will help secure power stability in Thailand's Northeastern area.