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Thai energy firm EGCO plans $382 mln overseas investment

Thai energy firm EGCO plans $382 mln overseas investment

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The plants include two hydro projects in Laos and one coal power plant in the Philippines, which have a combined capacity of 554 megawatts (MW) and are expected start commercial operations by 2022, he said.

New Delhi: Thailand’s Electricity Generating Pcl will invest 12 billion baht ($382 million) in three power plants, company President Jakgrich Pibulpairoj said in a statement on Monday.

The plants include two hydro projects in Laos and one coal power plant in the Philippines, which have a combined capacity of 554 megawatts (MW) and are expected start commercial operations by 2022, he said.

EGCO is looking to acquire assets that have already began commercial operation and greenfield opportunities in Thailand and overseas, Jakgrich said.

It also plans to invest $1.62 billion to develop another hydro project in Laos, a geothermal plant in Indonesia and a coal-fired power plant in Vietnam, but was still finalising that decision.

EGCO expects to conclude the purchase of one fossil fuel power plant overseas this year, he added.

For its power business, he said two power plants will begin commercial operation in the fourth quarter of 2019, adding 374.5 equity MW to its portfolio.

EGCO currently has 876 MW in renewable energy capacity or 21 percent of a total capacity of 4,260 MW. It aims to have 30 percent of its portfolio in renewables by 2026.

The company targets at least 6 percent profit growth this year after it realizes profits in the first quarter of 2018 from the sale of stakes in water management firm, Eastern Water Resources Development and Management Pcl to Manila Water Company Inc, Jakgrich told reporters.

EGCO’s net profit in 2017 was up 42 percent at 11.8 billion baht. The state-owned Electricity Generating Authority of Thailand holds a 25.4 percent stake in EGCO.

Source: Reuters
Anand Gupta Editor - EQ Int'l Media Network

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