EGCO Group acquires Chaiyaphum and Theppana Wind Farms
Electricity Generating Public Company Limited or EGCO Group expands its renewable power generation business portfolio with the successful acquisition of 10% additional shares in “Chaiyaphum Wind Farm” and “Theppana Wind Farm” power plants in Chaiyaphum province.
This acquisition enables EGCO to be the whole owner of those two wind power plants and the company will recognize the immediate earnings in the proportion of its additional shares.
Additionally, it will support the company’s goal to achieve carbon neutrality by 2050.
Thepparat Theppitak, EGCO Group’s President, disclosed that “EGCO has successfully acquired an additional 10% of the common shares in Chaiyaphum Wind Farm Company Limited and Theppana Wind Farm Company Limited, which operate “Chaiyaphum Wind Farm” and “Theppana Wind Farm” power plants respectively, from the existing minority shareholders.
The transaction was completed with share transfer on 22 September 2022, resulting in EGCO’s 100% ownership in the two wind power plants.”
The “Chaiyaphum Wind Farm” wind power plant is located in Subyai district, Chaiyaphum province. The power plant, commercially operated in 2016, has a total installed capacity of 80 MW and sells its net electricity output to the Electricity Generating Authority of Thailand (EGAT) under a non-firm PPA for Small Power Plant (SPP) scheme.
Meanwhile, the “Thappana Wind Farm” power plant with an installed capacity totalling 7.5 MW is located in Thepsathit district, Chaiyaphum province. It started commercial operation in 2013 and sells its net electricity output generated to Provincial Electricity Authority (PEA) under the non-firm PPA for Very Small Power Plant (VSPP) scheme.
Furthermore, both power plants operate efficiently with high availability and the machines are well-maintained in a good condition. They are placed in potential and good locations where the wind blows throughout the year.
“The additional investment is in line with EGCO Group’s “Cleaner, Smarter and Stronger to Drive Sustainable Growth” business direction in support of the global low-carbon objectives. It will support the company’s mid-term goals to increase the portion of renewable energy to 30% of the total generating capacity and reduce carbon emission intensity by 10% by 2030. Our ambitious goal is to achieve carbon neutrality by 2050,” added Thepparat.