GPSC joins hand with 2 strategic partners, investing up to Bt. 3,000 million in expanding Nava Nakorn power plant (phase 2) to meet rising demand.
GPSC joins hand with 2 partners in Bt. 3,000 million of investment to increase power generating capacity of Nava Nakorn power plant (phase 2) by 60 MW and another 10 tons per hour of steam. The expansion is expected to start commercial operation in 2020 to meet increasing power demand in Nava Nakorn Industrial Promotion Zone.
Dr. Toemchai Bunnag, President and Chief Executive Officer of Global Power Synergy Public Company Limited or GPSC, the innovative power flagship of PTT Group, said GPSC is going forward with plan of being a small power producer (SPP) to produce power for Nava Nakorn industrial promotion zone in Pathum Thani province. The SPP project consists of 3 strategic partners, which are: Ratchaburi Electricity Generating Company Limited (the Company’s wholly owned subsidiary), Global Power Synergy Public Company Limited and Navanakorn Public Company Limited holding share proportion of 40%, 30% and 30% respectively. As the operator of the SPP project, GPSC plans to increase capacity of its Nava Nakorn power plant (phase2), which is a co-generation power generating system, expecting to increase another 60 MW of power generating capacity and another 10 tons per hour of steam. The company has allocated an investment budget of Bt. 3,105 million for the project. The construction will start in third quarter of this year and commercial operation date (COD) will be in the third quarter of 2020.
Out of total investment, 75% will be financed from financial institutes and the rest 25% will be from shareholders. After the operation, Nakorn Electricity Generating Company Limited will have the total electricity generation capacity of 185 MW and the steam generation capacity of 40 tons per hour to accommodate increasing demand in the industrial zone. The current generation capacity is at 125 MW of electricity and 30 tons per hour of steam. The additional power capacity will be dispatched to EGAT under a 25-year Power Purchase Agreement, totaling of 90 MW. The steam capacity will be supplied to industrial users in Nava Nakorn Industrial Promotion Zone. The expansion of the Nava Nakorn power plant (Phase 2) project aims to supply electricity to meet the rising demand in Nava Nakorn Industrial Promotion Zone, from existing phase which has operated since June 3, 2016.