Japan Bank for International Cooperation (JBIC) has signed a US$640mn co-financing for the construction and operation of the Ratchaburi power project in Thailand.
The 1,400MW plant is being developed by Ratchaburi Power Company (RPCL) in which Chubu Electric Power and Toyota Tsusho are equity holders.
The loan is co-financed with Sumitomo Mitsui, Calyon, HSBC, Bangkok Bank and Krung Thai Bank.
The combined-cycle gas turbine power plant in Ratchaburi province, some 150km west of Bangkok will sell electricity to Egat under a 25-year contract.
Demand for power is growing fast in Thailand, registering an average of 7% growth over the past decade, and according to the Thai Ministry of Energy is projected to continue rising, with peak demand in 2015 forecast at 40,978MW – twice the size it was in 2004.
