Alpha Power Company Ltd.

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Alpha Power Company Ltd., a partially-owned subsidiary of Alphatec Group, is developing a 420-MW (2x210-MW) gas, combined-cycle cogeneration power plant at the Alpha Technopolis Industrial Park in Chanaoengsao Province. Sight, a power company based in the US, has taken a partial stake in the project. Estimated project cost is $400.0 million. GEC-Alsthom was the equipment supplier. The first 210-MW turbine came on line during late-1996. The plant appears to be self financed by the Alphatec Group. Alpha Power Company signed a 5-yr PPA with Electricity Generating Authority of Thailand (EGAT) in Oct. 1996 to sell 70-MW of the plant's output under the Small Producers Program (SPP). The remainder sold to residential and industrial customers located in the industrial Park. Alpha Power Company also signed a 21-yr fuel supply agreement with the Petroleum Authority of Thailand (PTT) to supply 17.5 cubic ft/day of gas, which would be increased to 41-million cubic ft/day once the second phase of the project becomes operational, expected during late-1998. None None