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Published on August 22, 2007

President Visit Akaravinak said yesterday the company was confident of winning 800-megawatt-plus projects.

Tenders for independent-power-producer (IPP) projects are being called for now, with a total of 3,200MW up for grabs. Winners will be announced in November.

Electricity from these projects is expected to come online between 2012 and 2014.

Visit said the company had 40 years' experience as an IPP.

"If we win one more power plant, we will have to find a strategic partner," Visit said, adding that money was not a problem thanks to "support" from OneEnergy Thailand, a joint venture between CLP and Mitsubishi.

Egco asset management and planning senior executive vice president Somyos Polachan said the company had significant advantages over its competitors.

IPP plants will feed into the national grid in two phases - add-ing 3,200MW between 2012 and 2014 and 4,200MW from 2015 to 2017.

Egco will bid for three projects in the first phase.

The company is keen to acquire more shares in the Nam Thuen II power plant before its completion in 2009. It currently has a 25-per-cent stake.

Somyos said the company was negotiating to buy Italian-Thai Development's 15 per cent in the plant.

"If the deal is successful, Egco will become the largest shareholder," he said.

Currently, Egco has a total po-wer-generation capacity of 4,143.6MW.

Finance senior executive vice president Sakda Sreesangkom

said if the company won an 800MW plant deal, it would spend about US$500 million (Bt17.17 billion).

It will refinance Bt5 billion in short-term debt and will issue long-term baht debentures to buy BLCP shares.

Egco posted Bt5.03 billion in net profit in the first half of the year, up 38 per cent from the same period last year.

Watcharapong Thongrung

The Nation