EGCO Group acquires third solar power plant
Electricity Generating Plc or EGCO Group is investing Bt370 million in a solar power project, as part of the effort to boost its renewable energy portion to 300 megawatts within 2015.
The investment is for a 99.99 per cent stake in SPP2 from SunEdison Energy Holding (Singapore) Pte Ltd, according to a company statement.
"The plant is equipped the photovoltaic modules with the tracking system, increasing electricity generation compared the photovoltaic modules with the fixed systems," said Sahust Pratuknukul, president of EGCO Group.
SPP2 has installed capacity of 8 MW. Located in Saraburi, it has entered into a non-firm power purchase agreement with Provincial Electricity Authority (PEA). The project is subsidised with adder of Bt8 per unit for 10 years from the Power Department Fund Management Division, Office of the Energy Regulatory Commission.
“The investment in three solar power plant project through the acquisition of SPP2, SPP3 and SPP4, totaling 22 MW capacity, from SunEdison increased the company's capacity of renewable powers to 79 MW or 26 per cent from consolidated goal of 300 MW by 2015. This investment is in line with EGCO’s goal to expand its business towards the renewable energy and also meets the government policy regarding renewable and green energy. Also, it represents the Company’s responsibility towards society and the environment.” Sahust said.
