May 16th, 2014
Modern Energy Management continues delivering wind project success in Thailand
Modern Energy Management Co., Ltd. (MEM) has successfully completed its role Owner’s Representative for the development of Wind Energy Development’s 60MW Wayu wind farm project in Thailand.
Supporting the project owner, Wind Energy Development Co., Ltd. (a subsidiary of Gunkul Engineering PLC., Modern Energy Management’s scope of work was management of project design, contracting, commercial negotiations and overall management of the financial close process with project lender Siam Commercial Bank (SCB).
The Wayu project financial close process was much faster and efficient than any other wind project in Thailand to date. “We appointed Modern Energy as Owner’s Representative due to their experience on the first wind project in Thailand, and due to their strong experience in wind, particularly in Thailand,” said Mr. Janpon Ngamaroonchote, Gunkul Engineering PLC.’s Vice President of Strategic Planning and Investment Department. “MEM really worked as an extension of my own team, which added speed and efficiency to the financing process.”
The project, located in Nakhon Ratchasima province, will be the second utility-scale wind farm built in Thailand, and is expected to be complete within 2016. The founding partners of Modern Energy Management previously managed the construction of the First Korat Wind (FKW) and K.R. Two (KR2) wind farms (a single construction phase with a total combined capacity of 207MW), the first ever utility-scale wind farms in Thailand.
“Our client awarded us this project due to our experience in developing and building wind farm projects in Thailand, and due to our strong relationship with local lenders,” reports Aaron Daniels, Managing Director of Modern Energy Management. “We are the only consultancy in the wind energy sector that has direct experience and particular strength in delivering wind projects in emerging markets. And we have demonstrated expertise in doing it cost effectively.”
Modern Energy Management is a project management and engineering firm specializing in wind and solar project development, construction and operations management support in emerging markets.
About Modern Energy Management (MEM):
MEM specializes providing Owner’s Representative services for investors of renewable energy projects in emerging markets in order to deliver business case certainty by:
1. Identifying and managing project management levers which yield significant impact to project financial performance (such as reduction of CAPEX/OPEX, reduction of IDC and improving IRR), and
2. ensuring project construction and operations in accordance with project investor’s expectations
MEM is uniquely suited to offer these services due to our unparalleled experience and expertise in developing and building renewable energy projects in emerging markets.
For more information see www.modernenergy.co.th