EGCO Cogeneration SPP Replacement

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This project entails the replacement of the existing gas-fired power plant in Rayong Industrial Park, Rayong Province, with a 74 MW power generation asset. The new facility will sell electricity to Electricity Generating Authority of Thailand (EGAT) under a 25-year PPA for SPP replacement scheme while the rest of the electricity output will be sold to the industrial users in the region. The project company is EGCO Cogeneration Company Limited, sponsored by Electricity Generating Public Company Limited (EGCO) with 80% stake and J-Power Holdings (Thailand) Co., Ltd. with 20% stake. Total cost of the project stands at $99.57 million, of which $74.67 million debt package is provided by Bangkok Bank Public Company Limited, Government Savings Bank and Industrial and Commercial Bank of China. Debt-to-equity ratio is 75:25. Financial close took place on July 7, 2022. Realfin https://www.egco.com/en/news-update/2022/egco-cogeneration-spp-replacement https://www.jpower.co.jp/english/news_release/pdf/news220707e.pdf