Ratchaburi Power Plant

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In 2000, Ratchaburi Electricity Generating Co. Ltd. began development of the Ratchaburi Power Plant, a 5,115 MW combined cycle gas, and thermal oil/gas power complex in Ratchaburi province, 80km west of Bangkok. The plant had previously been developed by the state-owned Electricity Authority of Thailand (EGAT), as its single largest project. The plant was to sell power to the state-owned EGAT. Gas for the plant was to be provided from the Yadana gas field in the Adaman Sea off the coast of Myanmar, and to be transported to the site through the Yadana Gas Pipeline. Ratchaburi Electricity Generating was a subsidiary of Ratchaburi Electricity Generating Holding Pcl (EDGHC). REGHC was created by EGAT on March 7 2000. REGHC also owned Ratchaburi Energy Co. Ltd, an investment arm that dealt with small power plant projects in Thailand and elsewhere. In Oct. 2000, 40% or 580 million shares of REGHC were sold at the Bangkok Stock Exchange for US$173.5 million. An additional 15% stake was sold to the Electricity Authority employees (217.5 million shares at Bht 13 per share, a total of US$65 million). EGAT retained 45% of the shares. In 2005, EGAT remained the largest shareholder with 45%, with Banpu Public Company Limited Group the second largest shareholder with 15%. The power complex was expected to have a total capacity of 5,115-MW (three blocks of combined cycle gas and stream turbines of 2,175 MW and four thermal units of 2,940 MW). The three blocks of combined cycle gas and stream turbines and two of the four thermal units (3,645 MW) were completed in 2000. Additional blocks had not been completed by 2004. In 2003, a 1,400 MW expansion to the plant was announced, but to be owned and operated by the Ratchaburi Power Company, owned by a consortium of domestic and foreign investors. The project was expected to cost 60 billion baht (US$ 1.59 billion). The US$450 million equipment order contract for the combined cycle plant was won by a GE/Mitsui consortium, and engineering services were to be provided by Raytheon. The US$500 million equipment order for the thermal plant was won by Mitsubishi Heavy Industries. None None

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