Ratchaburi Electricity Generating Holding Plc has entered into a shareholder agreement for a cogeneration small power producer (SPP) project with capacity of 122 megawatts of electricity and 15 tonnes per hour of steam.
The country’s largest independent power producer holds 40% in the new venture, Nava Nakorn Electricity Generating (NNEG), while industrial estate operator Nava Nakorn Plc and PTT Plc hold 30% each. The project is located in the Nava Nakorn Industrial Promotion Zone in Pathum Thani, and commercial operation is expected to start in in 2016.
Ratchaburi CEO Noppol Milinthanggoon said the investment offered a reasonable return to the company and also signalled greater collaboration among leading local businesses.
In addition, he said, it would promote energy utilisation and efficiency because cogeneration technology is able to reuse remaining heat from the electricity generating process to make steam to distribute to nearby industrial plants.
Wichai Pornkeratiwat, senior executive vice-president for the gas business unit of PTT Plc, said the collaboration would also help strengthen power stability. The country would be able to reduce imported energy and save foreign exchange.
Nipit Arunvongse Na Ayudhya, managing director of Nava Nakorn, said the investment would enhance infrastructure capability in the Nava Nakorn Industrial Estate and benefit industrial customers.
NNEG has 1.45 billion baht in registered capital. It is responsible for overall management of the 5 billion baht project, including development, construction, operations and maintenance.
Ratchaburi shares (RATCH) closed yesterday on the Stock Exchange of Thailand at 43 baht, unchanged, in trade worth 86.42 million baht.