NED moving forward to one of the world’s largest PV solar farms in Thailand

Natural Energy Development Co., Ltd. (NED) -- a joint venture between CLP Renewables Limited (CLP), Diamond Generating Asia, Limited, a wholly owned subsidiary of Mitsubishi Corporation, and Electricity Generating Public Company Limited (EGCO), has entered into binding commitments to proceed with the construction of a 73MW (DC) solar farm in Thailand, which will be one of the world’s largest of its kind. The project is expected to commence operation by the end of 2011. This project is regarded as a step towards a revolution of Thailand’s development in renewable energy. Success came from cooperation of Thai and foreign participants, including a Japanese solar panel manufacturer, a local contractor and local and foreign financial institutions. The project would also help build strong confidence among foreign investors in Thailand. Managing Director, Mr. Woramol Khamkanist, revealed the progress of the 73MW Solar Farm located in Lopburi that the company has recently signed the construction and supply contract with Sharp Corporation, Italian Thai Development PCL and Italthai Engineering Co., Ltd. in Osaka, Japan. Total investment of the Project is approximately THB 8 billion. “The signing of the construction and supply contract showed NED’s willingness and commitment to develop solar power plant in Thailand. The project is expected to generate electricity by the end of 2011.This project is the beginning of a new chapter in the history of renewable energy in Thailand. The world class project – which requires advanced technology, professional funding support and readiness of national policy – brings together Japanese solar producer, Thai contractors and lending financial institutions” Woramol said. Asian Development Bank (ADB) and other lending financial institutions including Kasikorn Bank PCL, Bangkok Bank PCL and Siam Commercial Bank PCL provide funding support with Kasikorn Bank PCL and Bualuang Securities PCL as the financial advisors to the Project. Moreover, the Project has executed the Power Purchase Agreement (PPA) with Electricity Generating Authority of Thailand (EGAT) and granted Board of Investment Certificate from the Board of Investment of Thailand (BOI). The Company Profile (Natural Energy Development Co., Ltd.) Natural Energy Development Co., Ltd (NED) is a power company in Thailand which aims to develop solar projects in Thailand. Founded in 2008, it is an equal joint venture between CLP Thailand Renewables Ltd., a wholly owned subsidiary of CLP Holdings Limited (“CLP”), Diamond Generating Asia, Limited (“DGA”), a wholly owned subsidiary of Mitsubishi Corporation, and Electricity Generating Public Company Limited (“EGCO”).The company’s operation is to provide electricity for Thailand's electricity generating and distributing units under state regulations for purchasing power of very small power producers and small power producers. For more information, please contact Mr. Narongchai Sampakdee Tel 02-663-3226 Ext 72, Ms. Marayart Champathum Tel 02-663-3226 Ext 64,

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