Mr. Chanin Chaonirattisai, Director, Acting President of Electricity Generating Public Company Limited or EGCO Group revealed the progress of the Company’s operating performance for the first quarter of 2017 that “EGCO Group satisfactorily achieved its steady growth. For the net profit, the Company booked 2,963 million baht, an increase of 373 million baht or 14% when compared to the same period last year.

For the first quarter of 2017, the Company’s business has been progressed well with the significant event being the completion of share transfer of Indonesia’s geothermal power plants “Salak” and “Darajat” which comprises the aggregate capacity of 402 MW of electricity and 235 MW equivalent of steam. The affiliate of EGCO Group, Star Energy Group Holdings Pte.Ltd., and AC Energy Holdings, Inc. completely transferred the shares from Chevron’s affiliates. EGCO Group’s investment interest in such project is 20.07% and such acquisition generates the immediate revenues to the Company. 

“Regarding EGCO Group’s 6 power projects under construction, both domestic and overseas i.e. 3 SPP projects in Thailand, “Xayaburi” in Lao PDR, “San Buenaventura” and “Masinloc Unit 3” in the Philippines  are also well in progress according to their commercial operation schedules from 2017 until 2019. In particular, our “Klongluang” SPP power project with total equity contracted capacity of 102 MW is expected to commence its commercial operation in June 2017 as planned. This new power plant will contribute additional revenues to EGCO Group”, said Mr.Chanin.

For the progress of 4 overseas projects under development i.e. 2 projects in Lao PDR; “Pak Beng” hydropower project is waiting for the Mekong River Commission’s approval and “Nam Thuen 1” hydropower project is pending for the Attorney General’s review of the Power Purchase Agreement while the expansion of “Star Energy (Unit 3-4)” geothermal power plant in Indonesia is on the process of tariff negotiation with PLN and “Quang Tri” coal-fired power project in Vietnam is presently under negotiation on electricity price and power purchase agreement with the Vietnam Electricity (EVN) and master contracts such as concession and government guarantee with the Vietnamese Government. 

About EGCO Group
As of April 2017, EGCO Group runs 26 operating power plants with total equity contracted capacity of 4,250 MW in 5 countries across Asia Pacific region – Thailand, Lao PDR, the Philippines, Indonesia and Australia. There are 6 projects under construction with total equity contracted capacity of 852 MW. The Company’s power plants generate electricity using several fuel sources such as natural gas, coal, biomass, waste, hydro, solar, wind, and geothermal.