Electricity Generating Public Company Limited or EGCO Group updates the significant progress of the Yunlin offshore wind farm construction campaign in Taiwan. The project team has successfully installed all 80 monopiles. The satisfactory progress reiterates the company’s intention to complete the construction and connected the wind turbine generators (WTGs) with a total capacity of 640 MW to the grid by the end of 2024. Once completed, the project will steadily generate revenue and strengthen EGCO Group’s cash flow.

Dr. Jiraporn Sirikum, EGCO Group’s President, stated, “The Yunlin project has shown remarkable progress regarding its completion of all monopile installation, which was the most challenging part of the construction campaign, ahead of schedule. Meanwhile, the other works have made impressive progress. The successful completion of the significant construction progress demonstrates all related parties’ good cooperation and project management capabilities. Based on all partners’ commitment to Taiwan's clean energy transition as well as the continuous support from the Taiwanese government in all aspects, EGCO Group is confident to complete the rest of the project construction within 2024 as planned. So far, the project has installed 56 WTGs and is on track to complete the installation of remaining 24 WTGs out of 80 WTGs with a combined capacity of 640 MW by the end of 2024. Once completed, the Yunlin project is expected to generate a constant cash flow for EGCO Group with approximately THB 2,000 million per year for the first 5 years of its full operation.”

EGCO Group owns 26.56% stakes in the 640 MW Yunlin offshore wind farm. The project is located in the Taiwan Strait, between 8 and 30 kilometers off the west coast of Taiwan, and covers an overall area of 90 square kilometers. It delivers electricity under a 20-year power purchase agreement with Taipower (Taiwan Power Company). The completed WTGs fed to the grid has an average capacity factor in excess of 40%, confirming its capability to generate future income. Once completed by the end of 2024, the 640 MW Yunlin Project will be one of the largest offshore wind farms in Taiwan, producing enough clean energy to serve the energy needs of more than 600,000 Taiwanese households.

About EGCO Group

As of 30 June 2024, EGCO Group has a total equity capacity of 7,003 MWe in operation and under construction. Total equity capacity from renewable energy is 1,447 MWe (equivalent to 21% of the total portfolio and growing). The RE portfolio includes biomass, hydropower, solar power, onshore and offshore wind power, fuel cells, and battery storage. EGCO Group’s facilities and other projects are located in 8 countries, namely Thailand, Lao PDR, the Philippines, Indonesia, Australia, South Korea, Taiwan and USA. In addition to power business, other energy-related businesses of the company include EGCO Engineering and Service Co., Ltd. (ESCO) providing power plant operations, maintenance, engineering, construction, energy conservation and training services to power and industrial plants in many industries; the infrastructure and utilities company “CDI” in Indonesia, Thai Pipeline Network Co., Ltd. (TPN), EGCO Rayong Industrial Estate (ERIE), “Innopower” which is a high tech start up incubator that EGCO Group owns together with its partners EGAT and RATCH Group; and “Peer Power” which is a new financial technology company. EGCO Group has been listed on the 2023 Dow Jones Sustainability Index (DJSI) for the 4th consecutive year.