Khanom 4 CCGT

Active

Prospective

In January 2014, Khanom 4 Gas-fired Combined Cycle Power Generation Project reached financial closure, as the $622 million 23-year debt financing got secured. This greenfield project worth of $822 million involved the development of a gas-fired combined cycle power plant with a capacity of 970 MW (485 MW×2), in Nakhon Si Thammarat Province, about 700 km south of the country's capital, Bangkok. Sponsors of the project are Tokyo Electric Power (50%) and Mitsubishi Corp (50%) and each of them has $54.8 million for the total equity of $109.16 million. The project is financed at a debt/equity ratio of 87:13 and the debt financing of $712.85 million breaks into 1) export credit facility of $186.73 million by Japan Bank for International Cooperation; 2) 23 year term loan of $124.49 by OCBC Bank and Mizhuho Financial Group; 3) THB denominated 23 year term loan of $306.06 million by Bangkok Bank, Sumitomo Mitsui Banking Corporation and Bank of Tokyo-Mitsubishi UFJ; 4) Working capital of $56.13 million by Bangkok Bank; 5) VAT facility of $24.94 million by Bangkok Bank; and 5) $14.5 million guarantee from Bangkok Bank. Electricity generated will be sold to Electricity Generating Authority of Thailand (EGAT) for 25 years. As of Jan 2015, the plant is under construction.

Energy

Thailand

High

World Bank Group

Project

Power Generation (CCGT), Natural Gas, Commercial, Government