EGCO takes wind farm in Aust
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The Electricity Generating Plc or EGCO Group, Thailand's first Independent Power Producer, has an established track record of expanding its power generation portfolio in markets outside of Thailand.
Sahust Pratuknukul, president of EGCO Group, said that the company’s most recent strategic investment was in a wind power project – “Boco Rock Wind Farm”, which it acquired by gaining 100 percent equity interest in Asia Pacific Renewables Limited, principally owned by Continental Wind Partners, the developer of the wind farm.
The Share Purchase Agreement for Boco Rock Wind Farm, which will initially comprise an installed capacity of 113 MW, was signed this month. EGCO’s investment in the project amounts to approximately 110 million dollars Australian (Bt3.19 billion).
Boco Rock Wind Farm (BRWF) is located approximately 160km south of Canberra and will comprise 58 units of 1.7 MW wind turbines and 9 units of 1.6 MW wind turbines, supplied by General Electric International Incorporated. The BRWF project entered into a 15-year Power Purchase Agreement (PPA) with Energy Australia Pty Ltd and is expected to launch operations in February 2015.
Sahust added that the investment was in line with EGCO Group’s plans to seek new investment opportunities overseas. It is anticipated that the project will maintain the company’s growth through fixed earnings of the PPA and because of the short construction period.
