THE ELECTRICITY Generating Authority of Thailand (EGAT)has tasked its subsidiary Egat International (EGATi) with looking for opportunities to invest in renewable energy projects abroad.
Egat chairman Areepong Bhoocha-Oom said EGATi, which is Egat’s overseas investment arm, would have to catch up with the global trend of green energy.
Egat definitely wants two gigawatts of renewable energy. It will focus on Thailand and EGATi elsewhere to reach that target.
EGATi president Watchara Hemruchatanun said EGATi has conducted a feasibility study on expanding in the electricity-generating business with the focus on renewable energy.
The study is expected to be finished in six months or by the end of the year.
If the company decides to enter the renewable energy business, it will start with Asean countries.
The investment can be done via many options from investing on its own or with partners to mergers and acquisitions.
However, the renewable energy business requires plenty of capital, so the company will make sure that the time is right and the project is profitable, he added.
EGATi has set for itself a 10-year, Bt17 billion capital expenditure plan, starting this year, with the aim of boosting generation capacity to 1.7GW by 2026.
EGATi owns 30 per cent of Nam Ngiep 1 Power Co (NNP1PC), which is developing the 289-megawatt Nam Ngiep 1 hydropower project in Laos.
The plant, which is under construction, will begin commercial operations in two years.
The two other projects the company is involved in include the Upper Thanlwin hydropower project (Mong Ton) in Myanmar with total generating capacity of 3GW, of which 900MW is EGATi’s share.
The project is expected to start |commercial operations sometime from 2026-28.
The other development is the Quang Tri 1 thermal power project in Vietnam with capacity of 1.2GW. It is expected to commence commercial operations in 2023 or 2024.