AIMS TO INCREASE RENEWABLE ENERGY UP TO 300 MEGAWATTS
The Electricity Generating Public Company Limited or EGCO Group, Thailand's first independent power producer, recently reported its acquisition of 90 per cent stakes or 10 million baht in Theppana Wind Farm Company Limited which is the wind power project developer. EGCO Group also aims to expand its investment in renewable projects to 300 megawatts by 2015.
Sahust Pratuknukul, EGCO Group President reveals that The Company has acquired 90 percent stakes in Theppana Wind Farm with partial payment of 2.5 million baht according to the Share Purchase Agreement. The remaining of 7.5 million baht will be paid after the completion of all required conditions.
“Theppana Wind Farm, located in Chaiyaphum province is the wind power project which has a power purchase agreement with Provincial Electricity Authority (PEA) under the very small power producer (VSPP). The company has studied and recoded data of wind speed and direction for three years since February 2009. Primary studies show that the area is potential location for commercial wind power production. The project is now under environment impact assessment and engineering, procurement and construction (EPC) including financing and community relations”
“The investment is in line with EGCO Group's goal to expand our business towards the renewable energy. We have set our direction in increase the capacity of renewable power to 300 megawatts by 2015 from the current operation of 50 megawatts from solar and biomass power” added the President.