GPSC continues to invest in 250 MW power plant,aiming at growth alongside with PTT Group.
The Board of Directors of GPSC gives a green light to a plan to invest USD 757 Million of investment in a 250 MW Energy Recovery Unit (ERU) and 175-ton-per-hour steam under the CFP project of Thai Oil Public Company, which is due to complete within the third quarter of 2023.
Mr. Chawalit Tippawanich, President and Chief Executive Officer (CEO) of Global Power Synergy Public Company or GPSC, the innovative power flagship of PTT Group, said yesterday (January 21, 2019) that the company’s Board of Directors has approved the plan to invest in the Energy Recovery Unit (ERU) with the capacity to generate 250 MW of power and 175 tons per hour of steam. It is part of the Clean Fuel Project (CFP) of Thai Oil Public Company (TOP) that is worth USD 757 Million.
“The CFP of Thai Oil aims at increasing the company’s competitive advantage by rising effectiveness in the production process to create added value with the eco-friendly strategy. It is also a part of the plan to increase Thai Oil’s refinery capacity to 400,000 barrels per day that will also generate a by-product which can be used in ERU project in producing power and steam for CFP project. However, in order to cut costs, Thai Oil has selected GPSC as the key investor to develop this project since the beginning stage of designing due to our expertise in power and utility business. This will allow GPSC to extend the business in different fuels,” Mr. Chawalit said.
To start developing the ERU project, GPSC will operate the project through its 100% owned subsidiary, while the company will sign a long-term contract to sell power to Thai Oil before starting the construction of the project. The construction process could take about 58 months and due to be complete by the third quarter of 2023. This project is consistent with the strategic plan aiming at growth alongside the PTT Group, which will allow the company to extend its power and utility production business which make use of other different fuels in order to bring about energy security in the future.
Mr.Chawalit said that this project would help increase total power generating capacity according to the equity MW of GPSC to 1955 MW and 1,585 ton per hour of steam. In 2019, GPSC plans to start commercial operation date (COD) of several power projects which are the 65MW Nam Lik 1 hydro power plant (NL1PC) and the 1,285 MW Xayaburi hydro power plant (XPCL) in Laos, the 4th Central Utility Plant in Rayong with the capacity to generate 45 MW of power and 70 tons per hour of steam and the 3th Central Utility Plant as the small power plant (SPP) with the capacity of 15MW.
Moreover, GPSC still has some projects which are still proceeding according to the conditions within this year. In 2020, the company still continues its plan to expand the capacity of Nava Nakorn Elecricity Generating Company Limited (NNEG) to have 60 MW of power and 10 tons per hour of steam, which is due to start COD by next year as planned.