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4 smothong sustainable biomass by mr boonrod
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PFAN-Asia
SmoThong Biomass: Case Study of PFAN‐Asia’s
Clean Energy Financing Program
ASEAN Renewable Energy Market Development under Energy PriceVolatility
Wednesday June 3rd, 2015
Renewable Energy Asia 2015, BITEC, Bangkok, Thailand
CTI-PFAN has a Worldwide Presence With a
Strong Track Record of Success
• Japan (Chair)
• Norway
• South Korea
• Sweden
• UK
• US (Vice-Chair)
• Austria
• Australia
• Canada
(Vice-Chair)
• Finland
• Germany
CTI-PFAN has assisted +50
projects access +$600 M in clean
energy investments since 2006
Where is CTI-PFAN?
Promotes climate-friendly and
environmentally-sound
technologies through a
private sector focus, working
with business and finance
communities
Acts as an Implementing
Agreement under the IEA in
support of the UN Framework
Convention on Climate
Change
What is CTI-PFAN?
PFAN-Asia 1
CTI PFAN’s business is to mobilize private
sector financing for clean energy business
CTI-PFAN operates to bridge the gap between
INVESTMENT and CLEAN ENEGY BUSINESS
FOR INVESTORS • Access to Investment
Opportunities
• Deal Facilitation and
Match-Making
• Tipping point
assistance
• Capacity Building
FOR DEVELOPERS • Investment Readiness
Assessment
• Strategic Advisory and
mentoring
• Investment Promotion
and Outreach
• Tipping point assistance
• Capacity Building
PFAN-Asia 2
PFAN-Asia’s approach
1. Strengthen the capacity of
a) businesses to develop
high- quality projects and
proposals, and
b) financial institutions to
evaluate clean energy
investment proposals; and
2. Match selected projects with
sources of financing.
PFAN-Asia 3
Asia Forum for Clean Energy Financing
(AFCEF) Business Plan Competition
4
PFAN-Asia
Case Study: Smothong Biomass Project
ASEAN Renewable Energy Market Development under Energy PriceVolatility
June 3rd 2015
Smothong Palm Oil Group, Thailand
• Smothong Palm Oil was established in 2003 to provide
high quality of Crude Palm Oil (CPO) & Palm Kernel Seed
(PKS).
• Smothong Palm Oi Mill #1, commissioned in 2010, is one
of the largest palm oil mills in Thailand with an installed
capacity to produce high quality of crude pam oil at 1,200
tonne/day.
PFAN-Asia 6
There are various by-products
from production process.
To create sustainability, we aim
to utilize all materials from the
process to create zero waste.
PFAN-Asia 8
PFAN-Asia 9
PFAN-Asia 10
PFAN-Asia 11
Products from Palm Oil Production Process
PFAN-Asia 12
Products Utilization
Crude Palm Oil sell
Palm Kernel Seed sell
Fiber To use as fuel in the process
Dry Shell sell
Wet Shell sell
Sludge sell
Palm Oil Mill Effluent
(POME or wastewater)
To generate biogas and then to electricity (4 MW)
Empty Fruit Brunches (EFB) To generate electricity (9.5 MW)
Mit Prasong Green Power
Biogas to Power Project (2MW@2 Units) from POME
Smothong Biomass-to-Power Project
Installed Capacity 9.5 MW (8.0 MW net)
Required Feedstock Empty Fruit Bunch (500-600 ton/day)
Output Electricity sold to Provincial Electrical Authority under
the VSPP program for 25 years
Expected total investment cost 850 m THB (25.5 m USD)
Expected Debt / Equity Ratio 70 / 30
Expected return on investment 20%
Development Status • PPA signed with PEA for 25 yrs with an adder
incentive;
• BOI certificate secured ,Approval from local
municipality;
• Letter of Intend for feed stock supply with
Smothong Palm Oil (250-300 ton/day);
• Land available for 55 rai.
Requirements An external investor is required to provide the equity
and arrange the debt portion of the project.
14
PFAN performed Investment Readiness
Assessment on Smothong Biomass Project
Evaluation of Business Fundamentals
1. Value Proposition & Business Model (+ SWOT Analysis)
2. Market Understanding and Analysis
3. Management Team
4. Operations & Implementation Plan
5. Financials
PFAN-Asia 15
Investment Readiness Assessment
16
Key Stakeholders in Smothong Biomass
PFAN-Asia 17
Match-Making with Investor(s)
• After the investment readiness assessment, PFAN-Asia
connected Smothong Biomass with a potential investor;
• PFAN-Asia provided supports in refining financial model
and advising on deal structure until a shareholder
agreement is signed;
• PFAN-Asia is now supporting the project to secure debt
financing from commercial bank(s).
PFAN-Asia 18
PFAN-Asia Contact Information
Dan Potash, [email protected]
PFAN-Asia Chief of Party
Boonrod Yaowapruek, [email protected]
PFAN-Asia Country Manager Thailand
Tanakrit Sudprasert, [email protected]
Smothong Biomass’s Project Coordinator
For further information, please visit www.cti-pfan.net