Electricity Generating Public Company Limited or EGCO Group, the Thailand’s first Independent Power Producer today announced that the acquisition transactions of 99.99 percent stakes in SPP Five Company Limited (SPP5), the solar power project, from SunEdison Energy Holding (Singapore) Pte. Ltd. were completed on June 28, 2012. Additionally, the commercial operation date of SPP5 was on June 22, 2012 according to a Non-Firm Power Purchase Agreement with the Provincial Electricity Authority (“PEA”).
Previously, EGCO Group had acquired 99.99 percent of ownership in the three solar power plant projects, namely SPP2, SPP3 and SPP4 with the capacity of 8 MW, 8 MW and 6 MW, located in Saraburi, Srisaket and the boundary between Srisaket and Ubon Ratchtani respectively. If including the newly acquired project, SPP5 with the capacity of 8 MW, located in Roi Et Province, the total capacity amounted to 30 MW. Moreover, they are the first four private solar power plants which are equipped with the tracking system, increasing 20 percent more efficiency in electricity generation, compared to the photovoltaic modules with the fixed systems. Also, SPP2, SPP3 and SPP4 have commercially supplied the electricity to PEA on May 2, 2012, February 21, 2012 and January 24, 2012 respectively.