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“Gulf” commissioned three hydroelectric plants in Laos with a total capacity of 2,366 MW. The electricity bill is expected by the end of this year. The company will have approximately 30% to 35% of the shares with Chinese partners.
Ms. Yupapin Wangwiwat, Executive Director and Chief Financial Officer of Gulf Energy Development Public Company Limited (GULF) revealed that the company is in the process of negotiating electricity bills on the project. Three power dams in the Lao People’s Democratic Republic, representing a total power generating capacity of 2,366 megawatts, are expected to be completed by the end of this year. The project will have a 30-35% stake, and the China partners will have both Datang and Power China Company Limited.
The three dam projects are the Pak Beng project with a capacity of 912 megawatts, the Pak Lay project with a capacity of 770 megawatts and the Sanakham project with a power generation capacity of 684 megawatts with an investment in megawatts of US $ 3 ,3 millions. The dam’s three power plants are expected to supply commercial power (COD) in 2029-2030, and the electricity generated will be distributed to Thailand. At this time, it is in the process of negotiating electricity bills with the Electricity Generation Authority of Thailand (EGAT).
At the end of this year, GULF has a total power generation capacity of 14,385 megawatts, representing a share of 8,098 megawatts, is expected to fully distribute all commercial power by 2027, and is currently under construction. And developed 2 IPP power plants with a capacity of 5,000 MW, such as IPP GSRC in Chonburi province with a total production capacity of 2,500 MW, COD gradually in 2021-65, IPP GPD power plants, Rayong province, with a total capacity of approximately 2,500 MW. COD will start in 2023-67, while the 1,400 MW Hin Kong Power Plant, Ratchaburi Province, will be operational in 2024 and 2025, while the 540 MW IPP, Burapa Power, will start with COD in 2027.
Ms. Yupapin said Due to the growing capacity of COD production, growth will be generated for the company. Strongly, in 2027, the company expects total revenue of about 1.5-1.7 billion baht, while this year it is confident that revenue will grow to 35 billion baht or grow 15%.
For investment in the five years (2020-2025), it is expected to spend around 100 billion baht, which this year is expected to spend around 45 billion baht, while between 2021-2025 it is expected to spend as much as 55,000 million baht, divided into 5,000 MW of IPP project, 1,400 MW of Hin Kong power plant, to support the acquisition of a 464.8 MW wind power plant in Germany and investment in the construction of a wind power plant in Vietnam. It is also used to invest in infrastructure such as Phase 3 of the Laem Chabang Port Project, Phase 3 of the Map Ta Phut Port, Investment in the installation of a toll collection and maintenance system (O&M), highway project. Bang Pa-in – Nakhon Ratchasima M6, a distance of 196 kilometers (km) and a Bang Yai – Kanchanaburi M9 line, a distance of 96 km.
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