Gulf PD Natural Gas-Fired Combined Cycle Power Plant

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The project involves the construction and operation a 2,650MW combined cycle gas turbine power plant in the Rojana Rayong 2 Industrial Park of Thailand’s Rayong Province, about 150 kilometers southeast of Bangkok. The electricity will be sold to the Electricity Generating Authority of Thailand for a period of 25 years. Gulf PD Company Limited is owned by Independent Power Development Company Limited, a joint venture between Gulf Energy Development Public Company Limited with a 70% stake (GED) and Mitsui & Co., Ltd. (Mitsui) with 30% stake. The project value is approximately THB 50 billion ($1,653.34 million). Loan facilities with an aggregate amount of approximately THB 41 billion ($1,355.74 million). Asian Development Bank (ADB) provided regular loan of $50 million and a B loan of up to $85 million. ADB will also mobilize $45 million through the Leading Asia’s Private Infrastructure Fund (LEAP). ?he Japan Bank for International Cooperation signed project financing amounting up to $208 million). Other participants in the financing are: Export-Import Bank of Thailand (EXIM Thailand), Mizuho Bank, Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank, DZ Bank, Oversea-Chinese Banking Corporation, Bank of Ayudhya, Bangkok Bank, The Siam Commercial Bank, CIMB Thai Bank, Land and Houses Bank, Krung Thai Bank, Government Saving Bank of Thailand, and Kasikornbank. Financial close was reached on 18 November 2019. The plant will be fully operational by 2024. It will deliver around 16,000GWh. https://www.adb.org/news/adb-gulf-pd-sign-deal-build-2500-mw-power-plant-thailand?utm_source=news&utm_medium=email&utm_campaign=alerts https://www.jbic.go.jp/en/information/press/press-2019/1118-012817.html https://gulf.listedcompany.com/newsroom/181120191905360174E.pdf https://ijglobal.com/articles/144025/update-financial-close-for-gpd-gas-fired-in-thailand https://ijglobal.com/data/transaction/48819?name=Gulf%20Pluak%20Daeng%20CCGT%20Power%20Plant%20(2.5GW)%20IPP&link=%2Farticles%2F144025%2Fupdate-financial-close-for-gpd-gas-fired-in-thailand