fbpx 49087-001: Grid-Parity Rooftop Solar Project | Asian Development Bank

Thailand: Grid-Parity Rooftop Solar Project

Nonsovereign (Private) Project | 49087-001 Status: Approved

The project involves the rollout and operation of multiple solar photovoltaic installations, each with a capacity ranging from 400 kilowatts-peak (kWp) to 10 megawatts-peak (MWp), on rooftops or elsewhere on the premises of commercial and/or industrial buildings owned or leased by host companies in Thailand up to an aggregate capacity of 100 MW and will be installed at no up-front cost to the host companies. The project will enter into long-term power purchase agreements directly with the host companies. Electricity will be sold at a discount to the price of electricity purchased from the fossil fuel-dominated national grid, thereby achieving solar power production at parity with the grid. The project aims to demonstrate the viability of nonsubsidized solar power in Thailand, as it will not be relying on the Thai feed-in tariff (FIT) regime.

Client/Sponsor:

Project Details

Project Officer
Hong, Won Myong Private Sector Operations Department Request for information
Country
  • Thailand
Sector
  • Energy
 
Project Name Grid-Parity Rooftop Solar Project
Project Number 49087-001
Borrower/Company Thai-Sunseap Asset Company Limited
Country Thailand
Location Nation-wide
Type or Modality of Assistance
3490 Loan Ordinary capital resources USD 43.56 million Approved
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change Partnerships
Private sector development
Sector / Subsector

Energy / Renewable energy generation - solar

Gender Equity and Mainstreaming No gender elements
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Infrastructure Finance Division 2
Responsible ADB Officer Hong, Won Myong
Project Sponsor(s) Sunseap Group Pte Ltd
Weng Holding Company Limited
Description

The project involves the rollout and operation of multiple solar photovoltaic installations, each with a capacity ranging from 400 kilowatts-peak (kWp) to 10 megawatts-peak (MWp), on rooftops or elsewhere on the premises of commercial and/or industrial buildings owned or leased by host companies in Thailand up to an aggregate capacity of 100 MW and will be installed at no up-front cost to the host companies. The project will enter into long-term power purchase agreements directly with the host companies. Electricity will be sold at a discount to the price of electricity purchased from the fossil fuel-dominated national grid, thereby achieving solar power production at parity with the grid. The project aims to demonstrate the viability of nonsubsidized solar power in Thailand, as it will not be relying on the Thai feed-in tariff (FIT) regime.

Client/Sponsor:

The borrower of the project is Thai-Sunseap Asset Company Limited, a special purpose project company 55% owned by Weng Holding, Sombath Phanichewa and his immediate family members and 45% by Sunseap Group. The Thai-Sunseap Asset Company Limited in turn owns 100% of subprojects up to an aggregate capacity of 100MW.

Weng Holding is a privately held company that is part of an industrial conglomerate (the Weng Group), which is a leading glass industry supplier in Thailand and operates a varied number of additional businesses including manufacturing of glass blocks and chemically-strengthened glass, Nissan automobile dealerships and various real estate and hotel investments throughout Thailand. The Weng Group also holds significant minority shareholdings in numerous companies in Thailand, including Siam City Insurance, Kiarti Thanee Country Club, Thai Public Port, and C on Top (8MW solar farm in Chonburi).

Sunseap Group is a leading developer and largest owner of rooftop solar PV systems in Singapore with more than 163 MWp of contracted capacity. It has won five out of six solar tenders called by the Singapore government to date which amounts to a total capacity of 133 MWp to install PV panels on the roofs of a number of public housing (HDB) and other government properties. The current commissioned capacity is more than 60 MWp (as of 1H 2016) which is scheduled to reach 86 MWp by the end of FY2016 as the rooftop projects are being implemented in phases. Sunseap Group is currently owned by two founders (Frank Phuan and Lawrence Wu) and other minority shareholders including individuals and venture capitals.

Objectives and Scope
Linkage to Country/Regional Strategy
Safeguard Categories
Environment C
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance 26 Jun 2015
Credit Committee Meeting 10 Nov 2016
Approval 02 Dec 2016
Last PDS Update 12 Jun 2019

Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.

The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.

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Title Document Type Document Date
Grid-Parity Rooftop Solar Project: Report and Recommendation of the President Reports and Recommendations of the President Nov 2016
Grid-Parity Rooftop Solar Project: Initial Poverty and Social Analysis Initial Poverty and Social Analysis Jun 2015

Safeguard Documents See also: Safeguards

Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

None currently available.

Evaluation Documents See also: Independent Evaluation

None currently available.

Related Publications

None currently available.


The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.

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