Thailand's Electricity Generating Pcl plans to more than double capacity at its Quezon power plant in the Philippines as part of a regional expansion.
EGCO plans to spend about 6 billion baht or US$193 million a year during 2012-2014, mostly to acquire both domestic and foreign power plants to help offset declining revenue from its two local plants, according to the company's president, Sahust Pratuknukul.
"We are studying a plan to boost capacity of Quezon power plant by another 500 megawatts," Sahust said adding revenue contract from its Rayong power plant will expire in 2014 and its Khanom power plant in 2016.
In late 2010, EGCO spent $215 million to double its stake in Quezon Power (Philippine) Ltd Co to 52.125 percent through its subsidiary in the Netherlands, New Growth B.V.
Quezon Power operates a 460-megawatt coal-fired power plant, a 31 km, 230-kilovolt double circuit transmission and some related facilities in Quezon province in the Philippines.
The company has interests in 14 power plants in Thailand, Laos and the Philippines with a combined capacity of about 4,417 MW and accounts for about 12 percent of Thailand's generating capacity.
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