B32bn loan deal sealed with banks
Gulf JP Co, a subsidiary of Electric Power Development Co of
The company also plans to add another 1,000 MW under the small power producer (SPP) programme, said president Sarath Ratanavadi.
Among the nine power plants, two are under the independent power producer (IPP) programme with licences awarded by the Energy Ministry.
The IPPs _ Power Generation Supply (PGS) and Siam Energy Power Plant (SEPP) _ each have a capacity of 1,600 MW and are worth 70 billion baht in total. Construction of PGS is expected to start in 2011 on SEPP and in 2012.
The two IPP licences were awarded in 2006. However, SEPP encountered strong protests from local residents in Bang Khla district, Chachoengsao, last year. Gulf JP finally decided to move the project to the Rojana Industrial Estate in
“We will move ahead with this project although it has to move out from Bang Khla,” said Mr Sarath.
The other seven SPP plants have a combined capacity of 790 MW and construction is expected to begin within the next two weeks.
Yesterday, the company signed five contracts including engineering and construction with Mitsui Co, long-term services with Siemens Co, gas pipeline construction with TRC Construction Co, and engineering services with Sino-Thai Engineering and Construction Plc.
It also sealed a 20-year loan agreement worth 32 billion baht with Thai commercial banks including Siam Commercial Bank, Kasikornbank, TMB Bank, the Export and Import Bank of
Mr Sarath noted that four of the seven SPP projects were located in Saraburi and the rest in Chachoengsao, Rayong and Pathum Thani.
“If all of our nine power plants are finished, we will be the third largest private power supplier in 2018 after Egco and Ratchaburi Electricity Generating Holding,” he said.
Gulf JP has applied to the Energy Ministry for a new SPP licence to produce an additional 1,000 MW from the government’s new quota of 2,000 MW. The results will be announced soon.
