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Thailand’s Egco secures 2.7 billion baht loan for power plant
74MW combined cycle power plant will replace old facility at the Rayong Industrial Park
Michael Marray 20 Jul 2022

Thailand’s Egco Cogeneration has secured a loan amounting to 2.7 billion baht (US$73.56 million) for the construction of a 74-megawatt combined cycle power plant in Rayong Province.

The lenders are Bangkok Bank, state-owned Government Savings Bank, and Industrial and Commercial Bank of China (Thai) Public Co Ltd.

Requiring a total investment of 3.6 billion baht, the project started construction in May 2022 and is scheduled to start commercial operation in January 2024.

Egco Cogen is 80% owned by Electricity Generating Public Co Ltd (Egco) and 20% by J Power Holdings (Thailand) Co Ltd.

Since 2003 Egco Cogen has owned and operated a combined cycle power plant at the Rayong Industrial Park, Map Kha Sub-district, Nikhom Pattana District, Rayong Province, selling electricity to the Electricity Generating Authority of Thailand (Egat) under a 21-year power purchase agreement (PPP), as well as electricity and steam to nearby industrial customers.

The new plant will replace the current power facility. It features gas-fired cogeneration system with the latest and advanced technology which will help improve the energy utilization efficiency.

The current PPA will expire in 2024. Egco Cogen entered into a new 25-year PPP with Egat in January 2022, as well as engineering, procurement and construction (EPC) contracts with TTCL Public Co Ltd and TRC Construction Public Co Ltd.

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