EGCO - Electricity Generating pcl

09/16/2020 | Press release | Distributed by Public on 09/16/2020 00:28

EGAT International, EGCO Group, RATCH Group Sign Joint Development Agreement for Quang Tri 1 Thermal Power Plant

EGAT Group,namely EGAT International Co., Ltd., Electricity Generating Plc. (EGCO Group) and RATCH Group PCL., have jointly developed Quang Tri 1 Thermal Power Plant in Vietnam as the three partners signed the Joint Development Agreement (JDA) on 16 September 2020. Mr. Santichai Osotpavapusit, Senior Executive Vice President, Acting President of EGAT International Co., Ltd., said, 'Quang Tri 1 Thermal Power Plant project receives full support from both Thai and Vietnamese governments as well as EGAT. The cooperation under EGAT Group, among EGAT International, EGCO Group and RATCH Group, means a significant move in driving Quang Tri 1 Thermal Power Plant project towards success.'

Quang Tri 1 Thermal Power Plant is located in Hai Lang District, Quang Tri Province, Vietnam. Its shareholding structure is EGAT International 40%, EGCO Group 30% and RATCH Group 30%. With installed capacity of 1,320 MW (two units of 660 MW each), the power plant is fueled by sub-bituminous coals and uses the ultra-supercritical technology which is the most advanced technology with the highest efficiency available today. The project is currently under green-field development phase and under advanced negotiation process with the expected commercial operation in 2025. The generated electricity will be sold to Vietnam Electricity (EVN) under the long-term Power Purchase Agreement.

Mr. Thepparat Theppitak, EGCO Group's President, said, 'Quang Tri 1Thermal Power Plant 1 is among the first in Vietnam to use ultra-supercritical technology, which is proven for its high efficiency and environmental friendliness. The project, therefore, best supports EGCO Group's commitment to sustainable energy business operations with responsibility to the environment, social development and quality of life of the people living near our power plants. We are committed to bringing our expertise and experience in operating and managing overseas thermal power plants, such as the Philippines, to help make the Quang Tri 1 Thermal Power Plant successful through close cooperation with EGAT International and RATCH Group.'

Mr. Kijja Sripatthangkura, RATCH Group's Chief Executive Officer, said, 'RATCH Group's cooperation will support Quang Tri 1 Thermal Power Plant success and enable it to better meet the Vietnamese government's expectation. RATCH Group is willing to contribute our expertise and capability and work closely with EGAT International and EGCO Group as well as all stakeholders in Thailand and Vietnam to drive the project progress. The project success will become mutual achievement for the entire EGAT Group, which also marks a great beginning for strong and sustainable partnership in the future.'