The project could hit financial close by 1Q18.
Nexif Energy announced that it has signed an engineering, procurement and construction (EPC) contract for its 110 megawatt (MW) cogeneration project in Thailand’s Rayong Province. Nexif acquired the project in June 2017 and is making rapid progress towards achieving financial close in the first quarter of 2018.
The project will supply electricity to the Electricity Generation Authority of Thailand (EGAT) under a 25-year power purchase agreement and provide energy to industrial customers. It will be financed by a consortium of leading lenders on a non-recourse basis with Standard Chartered Bank leading the financing effort.
Ravi Chandran, Executive Vice President (Development) at Nexif, added, “Our project is well structured, as it is underwritten by a long term PPA with creditworthy off-taker, has long term gas supply contracts with a leading gas supplier and has the ability to supply electricity and steam to industrial customers. We look forward to completing remaining permitting and financing by first quarter 2018.”
The turn key fixed price EPC Contract was signed with a consortium of Korean construction companies comprising Doosan Heavy Industries & Construction Co., Ltd (“Doosan”) and SC Engineering Co., Ltd. It includes the supply and erection of a General Electric 6FA gas turbine operating in combined cycle with a Doosan DST-G20 steam turbine.
Do you know more about this story? Contact us anonymously through this link.