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TRANSCRIPT
Corporate Presentation
27 – 29 August 2014
1
This presentation was made from the analysis of reliable information in order to assist
investment community to better understand the company's financial status and operation. It also
supports the "Good Corporate Governance Project" of the Securities and Exchange Commission
(SEC).
However, the information within this presentation has been derived from the existing factors in
the present time. Therefore, the forward-looking information on this presentation may not occur
in the future if the aforementioned factors or situations are changed. Investors are, however,
required to use their own discretion regarding the use of information contained in this
presentation for any purpose. For further information, please contact Investor Relations Section
of the Electricity Generating Public Company Limited (EGCO) at Tel: (662) 998-5145-8 or Email:
2
► Thailand Electricity’s Overview
► EGCO Group’s Overview
► Financial Performances
3
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
4
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
Source: EPPO, ERC and EGAT
EGAT: Electricity Generating Authority of Thailand IPP: Independent Power Producer
MEA: Metropolitan Electricity Authority SPP: Small Power Producer
PEA: Provincial Electricity Authority VSPP: Very Small Power Producer
ERC: Energy Regulatory Commission IMPORT: Purchasing from Laos & Malaysia
EGAT Generators Transparent transfer pricing
IPPs
END User
Transmission System Owner (TSOw)
MEA
Industrial
User
PEA
IMPORT SPPs
Re
gula
tors
(ER
C)
Single Buyer Transmission
Network System
Operator (NSO)
VSPPs
5
Classified by Producer Classified by Fuel type
As of June 2014, Thailand’s Power Installed Capacity was 34,179.02 MW.
EGAT : 14,708 MW SPP : 3,525 MW
IPP : 13,542 MW Import : 2,404 MW
Natural Gas : 23,402 MW Coal : 4,609 MW
Hydro : 5,541 MW Others* : 627 MW
*OTHERS = Fuel Oil, Diesel, Renewable
Source: EGAT
43.0%
39.6%
10.3%
7.0%
EGAT IPP SPP IMPORT
68.6%
16.2%
13.4%
1.8%
NATURAL GAS HYDRO COAL OTHERS*
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
15,000
20,000
25,000
30,000
January Februaary March April May June July August September October November December
2009 2010 2011 2012 2013 20146
MW
Source: EGAT
26,253.29 MW (June 3, 2014)
1.3%
26,598.14 MW (May 16, 2013)
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
26,942.10 MW (April 23, 2014)
44%
21%
10%
13%
12%
7
June 2014
(34,179 MW)
Additional Capacity PDP 2010 R. 3
(54,005 MW)
*Note: The figure has been deducted by retried plants
along the way.
(65,547 MW)*
2030
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
41%
18%
13%
16%
12%
EGAT IPP SPP&VSPP Renewables Import
42%
35%
10%
8% 6%
Source: EPPO, EGAT
Year
Project MW Project MW Project MW Project MW Project MW
2012 Gheco-One 660.0 Cogeneration 262.0 Renewable 728.1 Theun-Hin Boun Exp 220.0
2013 Cogeneration 1,186.0 Renewable 1,039.5
2014 Wang Noi CC # 4 768.7 GULF JP NS#1-2 1,600.0 Cogeneration 286.0 Renewable 666.0
Chana # 2 782.5
2015 North Bkk # 2 900.0 GULF JP UT#1-2 1,600.0 Cogeneration 557.0 Renewable 751.3 Hong Sa #1-2 982.0
2016 National Power #1-2 270.0 Cogeneration 470.8 Renewable 989.0 Hong Sa #3 491.0
New KEGCO (June) 900.0
2017 Lam Takhong #3-4 500.0 National Power #3-4 270.0 Cogeneration 900.0 Renewable 534.6
2018 Mae Moh #4-7 Cogeneration 720.9 Renewable 389.8 Nam Ngiep 1 390.0
(Replace 600MW) Sepien 269.0
2019 Coal Plant # 1_EGAT 800.0 Cogeneration 724.8 Renewable 496.4 Xayaburi 1,220.0
2020 Cogeneration 90.0 Renewable 442.2
2021 Bang Pakong #1 900.0 GULF JP Gas-fired 900.0 Cogeneration 180.9 Renewable 441.5 Neighboring 300.0
2022 Bang Pakong #2 900.0 GULF JP Gas-fired 900.0 Cogeneration 184.8 Renewable 288.5 Neighboring 300.0
Coal Plant # 2_EGAT 800.0
2023 South BKK #1-2 1,800.0 GULF JP Gas-fired 900.0 Cogeneration 180.0 Renewable 280.4 Neighboring 300.0
2024 South BKK #3 900.0 GULF JP Gas-fired 900.0 Cogeneration 180.9 Renewable 275.4 Neighboring 300.0
Bang Pakong #3 900.0
2025 Coal Plant # 3_EGAT 800.0 GULF JP Gas-fired 900.0 Cogeneration 184.8 Renewable 259.4 Neighboring 300.0
Bang Pakong #4 900.0
2026 Bang Pakong #5 900.0 GULF JP Gas-fired 900.0 Cogeneration 180.0 Renewable 254.4 Neighboring 300.0
Nuclear # 1 1,000.0
2027 Wang Noi # 1 900.0 Cogeneration 180.9 Renewable 315.2 Neighboring 300.0
Bangpakong #6 900.0
Nuclear # 2 1,000.0
2028 Wang Noi # 2-3 1,800.0 Cogeneration 4.8 Renewable 269.5 Neighboring 300.0
Coal Plant # 4_EGAT 800.0
Gas Turbine #1 250.0
2029 South BKK #4 900.0 Renewable 266.1 Neighboring 300.0
Gas Plant # 1_EGAT 900.0
Gas Turbine #2 250.0
2030 Gas Plant # 2_EGAT 900.0 Cogeneration 0.9 Renewable 294.0 Neighboring 300.0
Gas Turbine #3 250.0
22,401 10,700 6,476 8,981 6,572
EGAT IPP / Private Players SPP&VSPP Renewable Import
Source: EPPO, EGAT
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
8
9
The National Energy Policy Council in the meeting on August 15, 2014
approved the outline for preparation the new 20-year PDP proposing by
MOE. The final draft should be finished within three months.
MOE has the policy to reduce the portion of gas-fired power plants as well
as to increase the portion of coal-fired power plants.
New PDP will be concerned on the energy security, the compliance with
the energy conservation and renewable energy development, energy
sustainability, cost effectiveness, fuel diversification and emission.
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
10
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
► Thailand Electricity’s Overview
► EGCO Group’s Overview
► Financial Performances
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
* Nuclear Damage Liability Facilitation Fund 11
TEPCO 50%
Mitsubishi 50%
EGAT
25.41%
TEPDIA
23.94%
Thai Investors
15.16%
Foreign Investors
20.88%
NVDR 10.43% NVDR
14.61%
As of March 21, 2014
NDF* 50.11%
Others 49.89%
12
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
BOD
President
1 seat
EGAT
4 seats
TEPDIA
4 seats
Independent
Directors
6 seats
Power Business
To develop and acquire power plants with multiple fuel types.
Service Business
To provide operation, maintenance, engineering and
construction services to power plants and other industries.
Other Business
To invest in water businesses that supply raw and tap water and
the integrated energy business.
13
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
EGCO Group’s business lines can be categorized into 3 business groups:
14
Rayong, KEGCO,
GEC-GPG (KK2)
EGCO Cogen,
GEC-GCC, GEC-NKCC
GEC-SCC, KN4,
TJ Cogen, TP Cogen,
SK Cogen
GEC-GYG,
Roi-Et Green,
NED, SPP2
SPP3, SPP4, SPP5,
GPS (#1-4), TWF, YEH,
GIDEC, BRWF, CWF
BLCP, Quezon,
MPPCL NTPC (NT2), XPCL
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
63% 25%
8% 5%
Natural Gas Coal Hydro Renewable
EGCO Contract
Shares Years
IPPs
Rayong Rayong Natural Gas Combined Cycle 100.00% 1,174.99 1,174.99 20 07 Dec 94 Dec 14
Thermal 20 19 Jun 96 Jun 16
Combined Cycle 20 19 Jun 96 Jun 16
GPG (Khaeng Khoi 2) Saraburi Natural Gas Combined Cycle 50.00% 1,468.00 734.00 25 5 May 07 / 1 Mar 08 May 32 / Mar 33
BLCP Rayong Coal Thermal 50.00% 1,346.50 673.25 25 1 Oct 06 / 1 Feb 07 Oct 31 / Feb 32
3,330.44
SPPs
EGCO COGEN Rayong Natural Gas Cogeneration 80.00% 112.18 89.74 21 28 Jan 03 Jan 24
ROI-ET GREEN Roi-Et Rice Husk Thermal 70.30% 8.80 6.19 21 29 May 03 May 24
GEC-GCC Saraburi Natural Gas Cogeneration 50.00% 108.63 54.32 21 03 Sep 98 Sep 19
GEC-NKCC Saraburi Natural Gas Cogeneration 50.00% 121.30 60.65 21 12 Oct 00 Oct 21
GEC-SCC Samutprakarn Natural Gas Cogeneration 50.00% 114.45 57.23 21 23 Sep 99 Sep 20
GEC-GYG Yala Parawood Thermal 50.00% 20.20 10.10 25 28 Nov 06 Nov 31
278.23
Renewable
NED Lopburi Solar PV Solar PP 33.33% 63.00 21.00 10 22 Dec 11 Dec 21
SPP2 Saraburi Solar PV Solar PP 100.00% 8.00 8.00 10 02 May 12 May 22
SPP3 Srisaket Solar PV Solar PP 100.00% 8.00 8.00 10 21 Feb 12 Feb 22
SPP4 Srisaket/ Ubon-Ratchatani Solar PV Solar PP 100.00% 6.00 6.00 10 24 Jan 12 Jan 22
SPP5 Roi-Et Solar PV Solar PP 100.00% 8.00 8.00 10 22 Jun 12 Jun 22
GPS (Phase 1-4) Nakhon Sawan/Chai Nat Solar PV Solar PP 60.00% 26.00 15.60 10 1,2,5 Mar 12 / 1 Feb 13 Mar 22 / Feb 23
TWF Chaiyaphum Wind Wind Turbine 90.00% 6.90 6.21 10 18 Jul 13 Jul 23
Solarco Nakornpathom Solar PV Solar PP 49.00% 57.00 27.93 10 18 Nov 13 / 16 Dec 13 Dec 23
100.74
Overseas
Quezon Philippines Coal Thermal 98.00% 460.00 450.80 25 30 May 00 Jun 25
NTPC (Nam Theun 2) Laos Hydro Hydro PP 35.00% 1,023.00 358.05 25 30 Apr 10 Apr 35
MPPCL Philiphines Coal Thermal 40.95% 589.00 241.20 3-16 Jun/Dec 98 up to PPA
1,050.05
4,759.46Total Operating Projects
Total Overseas
KEGCO Nakhon Sri Thammarat 748.20
Fuel Type
Total Renewable
748.20
CODPlant TypeContracted
Capacity (MW)
Attrib. Capacity
(MWe) Power Plant
100.00%Natural Gas
Total IPPs
Total SPPs
ExpiredProvince/Country
15
Currently, EGCO Group’s portfolio comprises of 21 operating power plants, totaling contracted capacity 4,759.46 MWe.
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
16
Currently, EGCO Group’s portfolio consists of 4 under construction projects and 4 under development projects,
totaling contracted capacity 1,613.25 MWe.
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
Power Plant Province/Country Fuel Type Plant Type EGCO
Contracted Capacity
(MW)
Attrib. Capacity
(MWe)
Contract COD Expired
Shares Years
Under Construction
GIDEC Songkhla Waste Thermal 50.00% 6.50 3.25 10 Oct 14 Jun 24
BRWF Australia Wind Wind Turbine 100.00% 113.00 113.00 15 Feb 15 Feb 30
KN4 Nakorn Sri Thammarat Natural Gas Combined Cycle 100.00% 930.00 930.00 25 Jun 16 Jun 41
XPCL Laos PDR Hydro Hydro PP 12.50% 1,280.00 160.00 29 Oct 19 Oct 48
Total Under Construction 1,206.25
Under Development
CWF Chaiyaphum Wind Wind Turbine 90.00% 90.00 81.00 25 Dec 16 Dec 41
TP Cogen Ratchaburi Natural Gas Cogeneration 100.00% 113.00 113.00 25 Feb 17 Jun 41
SK Cogen Ratchaburi Natural Gas Cogeneration 100.00% 107.00 107.00 25 Feb 17 Jun 41
TJ Cogen Pathumthani Natural Gas Cogeneration 100.00% 106.00 106.00 25 Jun 17 Jun 42
Total Under Development 407.00
Potential Project
Quezon Expansion Project Philippines Coal Thermal 49.00% 455.00 222.95 N/A Q3/2018 N/A
Total Potential Project 222.95
Total Under Construction, Under Development and Potential Projects 1,613.25
17
EGCO Group’s other business portfolio comprises of 6 companies:
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
Company Business Type
EGCO Engineering and Service Co., Ltd. (ESCO)
Pearl Energy Philippines Operating Inc. (PEPOI)
Quezon Management Services Inc. (QMS)
Eastern Water Resources Development and Management Plc. (EASTW)
Egcom Tara Co., Ltd. (Egcom Tara)
Manambang Muara Enim Co., Ltd. (MME)
O&M
O&M
Management Service
Water
Water
Coal Mining
XPCL
(Hydro)
KN4
(Gas)
BRWF
(Wind)
GIDEC
(Waste)
2014 2015 2016 2017 2018 2019 2020
Under Construction Projects
Under Development Projects 18
TP Cogen
(Gas) CWF
(Wind) SK Cogen
(Gas)
TJ Cogen
(Gas)
SBPL
(Coal)
Under Development Projects
Under Construction Projects
Potential Project (Waiting for ERC ’s Approval)
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
-1,500
-1,000
-500
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
19
1994: 1,232 MW
Rayong
(1,232)
(749)
(55) (10) (7) (42) (75)
NMPC#1
Retired
NMPC#2
Retired AEP (25), AEB (17)
Divestment
KEGCO
Barge
#1 Retired
Rayong
Retired
KEGCO (749)
Retired
GCC
Retired
CONAL: WMPC (19),
SPPC (10) Divestment
KEGCO GCC
SCC
Conal - WMPC
Conal – SPPC
AEP
NMPC
NKCC APB
EGCO Cogen
Roi-Et Green BLCP
GYG
KK2
Quezon
NTPC
NED SPP2-5
GPS
TWF
YEH
GIDEC
MPPCL
BRWF
CWF
KN4 TJ Cogen
TP Cogen
SK Cocen
SBPL
XPCL
(29)
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
• SPP Development
• Expand Renewable Energy Portfolio
• Import Power Projects
• Neighboring Country Projects
Domestic Prospects
• Quezon Expansion Project
• Renewable Energy Projects
• Acquisitions/New Greenfield Plant Bids
International Prospects
20
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
21
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
► Thailand Electricity’s Overview
► EGCO Group’s Overview
► Financial Performances
2,110
2,566
-206
13
-69
-234
-212
126
-500
-
500
1,000
1,500
2,000
2,500
3,000
Q2/2013 (restated) Q2/2014
Net Profit Before FX, DT& TFRIC FX Deferred Tax TFRIC4&12
Million Baht
MD&A
+456 MB or +22%
22
2,471
1,623 Net Profit
+848 MB or +52%
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
Million Baht
23
2,053
2,522
57
44
-
500
1,000
1,500
2,000
2,500
3,000
Q2/2013 (restated) Q2/2014
Others Power Generation
2,566
2,110
MD&A
+456 or +22%
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
24
49 259
(14) 162
0
500
1,000
1,500
2,000
2,500
3,000Increase in AP
BLCP 207
KEGCO (126)
GPG (17)
Rayong (15)
2,159
2,418
2,110
2,566
Q2/2014 Q2/2013
Construction &
Development
SBPL (6)
GIDEC (5)
BRWF (3)
Solar & Wind
YEH 144
NED 10
GPS 6
SPP5 3
TWF 1
SPP3 (2)
Operating Performances
QPL 220 North Pole (245)
KEGCO 164 BLCP (83)
NTPC 144 GPG (39)
EGCO 113 ESCO (29)
GEC-SPP 24 Roi ET (5)
Rayong 3 EGCO Cogen (4)
Egcom Tara 3 Others (8)
MME 1
2,404 2,566
Million Baht
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
25
4,098 4,435
-88
54 34
173
-27
293
-200
300
800
1,300
1,800
2,300
2,800
3,300
3,800
4,300
4,800
5,300
6M2013 (restated) 6M2014
Net Profit Before FX, DT& TFRIC FX Deferred Tax TFRIC4&12
Million Baht
MD&A
+337 MB or 8%
Net Profit
+940 MB or +23%
4,956
4,016
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
27%
20%
15%
13%
13%
6%
4%
26
BLCP 1,473 MB
Quezon 1,084 MB
(QPL,QMS,PEPOI)
GPG(KK2) 717 MB
Note: Excluding EGCO
SOLAR & Wind 789 MB
(GPS,SPP2-5,NED,YEH,
Theppana)
Rayong 233 MB
SPP 323 MB
(GEC, EGCO Cogen, Roi-Et Green)
ET 72 MB, 1% ESCO 58 MB, 1% Unit: Million Baht
NTPC 686 MB
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
USD 893 M
THB 19,337 M
JPY 210 M
Total Outstanding
(Baht Equivalent) THB 52,106 M
Total Outstanding
As of 30 June 2014
USD 861 M
THB 20,472 M
JPY 210 M
THB 54,498 M
Total Outstanding
As of 31 Mar 2014
27
AUD 122 M AUD 191 M
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
0.23 0.21 0.25
0.70
0.87 0.89
0.18 0.17 0.23
0.41 0.44
0.41
0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
0.9
1
2009 2010 2011 2012 2013(Restate) 6M/2014
EGCO+Subsidiaries EGCO
Debt 23,117
Equity 56,103
Debt Equity
Debt 65,227
Equity 73,165
Debt Equity
EGCO + Subsidiaries
Unit: MB
EGCO
Unit: MB
Times (X)
28
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
1.00 1.25 1.25
1.50 1.50 2.00
2.25 2.50 2.50 2.50 2.50
2.75 2.75 3.00
1.25 1.25
1.50 1.50
1.75
2.00
2.50 2.50
2.75 2.75 2.75
3.25 3.25
-
1.00
2.00
3.00
4.00
5.00
6.00
7.00
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Second Payment Interim Payment
Baht/Share
* BOD at the meeting on August 23, 2014 approved the interim dividend payment for the first half- year
operation at 3.00 baht to be paid on September 19, 2014.
6.00
5.25 5.00
5.25 5.25
4.75
4.00
3.25 3.00
2.75 2.50
2.25
6.00
Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances
2013 Final Dividend
Paid 3.25 Baht On May 2, 2014
Average Dividend
Payout Ratio
42% (1996 – 2013)
Dividend Policy
40% of the consolidated net profit after tax
29
QPL
Quezon
Boco Rock
New South Wales
AUSTRALIA
I N D O N E S I A
PHILIPINES
MME
Muara Enim
Asia Pacific Region
THAILAND
MPPCL Zambales
Saraburi GCC; Gas
NKCC; Gas GPG (KK2); Gas
SPP2; Solar
Yala GYG; Parawood
Nakhon Sri Thammarat KEGCO; Gas
Samutprakarn SCC; Gas
Rayong Rayong Power Plant; Gas
BLCP; Coal
EGCO COGEN; Gas
Roi-Et RG; Rice Husk SPP5; Solar
Srisaket SPP3; Solar SPP4; Solar
Ratchaburi TP Cogen; Gas SK Cogen; Gas
Pathumthani TJ Cogen; Gas
Chaiyaphum TWF; Wind Farm
Nakhon Pathom/Suphanburi Yanhee; Solar
Nakhon Sawan GPS (Ta Keet); Solar GPS (Ta sang); Solar
Lopburi NED; Solar
Phetchabun GPS (Bueng Sam Phan); Gas
Songkhla GIDEC; Waste
Chai Nat GPS (Dong Korn); Solar
● IPP
● SPP
● Renewable Khammouane, Lao PDR NTPC; Hydro
Muara Enim MME; Coal Mining Project
Ratchaburi
Egcom Tara; Pipe Water Generating and Supply Business
EASTW; Pipe Water Generating
Rayong ESCO; O&M and Engineering Services
APPC; Bio Diesel Plant
35
GIDEC Waste Power Plant Project (GIDEC)
Project Description
Type: Municipal Solid Waste Plant
Location: Hat Yai, Songkhla Province
Shareholders: EGCO 50%, IEC Green Energy 50%
Expected COD: October 2014
PPA with PEA (VSPP Program)
Contracted Capacity: 6.5 MW
Adder: 3.5 baht/unit for 7 years
Project Progress
- Construction work was almost complete, individual function test
of each equipment is ongoing.
- Steam flushing/blowout was complete. Commissioning of boiler,
steam turbine, generator and BOP are under preparation.
36
Boco Rock Wind Farm (BRWF)
Project Description
Type: Wind Power Plant (Green Field)
Location: New South Wales, Australia
Shareholder: EGCO 100%
SCOD: February 2015
PPA: 15 years with Energy Australia Pty Ltd.
Installed Capacity: 113 MW
Project Progress
- Ending Q2/2014, the progress of work was 79.42%.
- Construction work is progressing well, installation of 21 WTGs
was complete.
37
Khanom Power Plant Project Unit 4 (KN 4)
Project Description
Type: Combined Cycle Power Plant
Location: Khanom, Nakhon Si Thammarat Province
Shareholder: EGCO 99.99%
SCOD: June 2016
PPA: 25 years with EGAT
Contracted Capacity: 930 MW
Project Progress
- Ending Q2/2014, the overall project progress was 32.50%.
- Piling and foundation works are ongoing ahead of the planned
schedule.
Xayaburi Power Company Limited (XPCL)
Project Description
Type: Hydro Power Plant Project, Run off River
Location: Xayaburi District, Laos PDR
Shareholders: EGCO 12.5%, CK 30%, EDL 20%, BECL 7.5%,
Natee Synergy 25%, PT Construction and
Irrigation Co., Ltd. 5%
SCOD: October 2019
PPA: 29 years with EGAT and EDL
Contracted Capacity with EGAT: 1,220 MW
Contracted Capacity with EDL: 60 MW
Project Progress
- Ending Q2/2014, the progress of work was 30.85%.
- Design of Navigation Lock, Spillway and Intermediate Block were
approved, detailed design for Powerhouse and Fish Passing
Facilities is continuing. Construction work is progressing.
38
Subyai
Chaiyaphum Wind Farm (CWF)
Project Description
Type: Wind Power Plant
Location: Subyai, Chaiyaphum
Shareholders: EGCO 90%, PVI Group 10%
SCOD: December 2016
PPA with EGAT (SPP Non-Firm)
Contracted Capacity: 90 MW
Adder: 3.50 baht/unit for 10 years
39
CWF
TP Cogeneration Project (TP Cogen) & SK Cogeneration Project (SK Cogen)
Project Description
Type: Cogeneration Power Plant
Location: Ban Pong, Ratchaburi Province
Shareholder: EGCO 100%
SCOD: February 2017
Installed Capacity: 125 MW each
Contracted Capacity with EGAT: 90 MW each
Expected Contracted Capacity with IUs: 23 MW
with 40 T/hr of steam (TP Cogen)
Expected Contracted Capacity with IUs: 17 MW
with 60 T/hr of steam (SK Cogen)
TP Cogen
& SK Cogen
40
TJ Cogen
41
TJ Cogeneration Project (TJ Cogen)
Project Description
Type: Cogeneration Power Plant
Location: Klong Luang, Pathum Thani Province
Shareholder: EGCO 100%
SCOD: June 2017
Installed Capacity: 110 MW
Contracted Capacity with EGAT: 90 MW
Expected Contracted Capacity with IUs: 16 MW
with 10 T/hr of steam
San Buenaventura Power Company Limited (SBPL)
Project Description
Type: Coal Fired Power Plant
Installed Capacity: 500 MW
Contracted Capacity: 455 MW
Location: Quezon Province, Luzon, the Philippines
Shareholders: EGCO 49% and MeralcoGen 51%
SCOD: Q3/2018
PSA: 20 years with Meralco
Project Progress
- Achievement for signing Power Supply Agreement with
Meralco on May 30, 2014
- The effectiveness of PSA will be subject to the review
and approval of ERC of the Philippines
42
Masinloc Power Partners Company Limited (MPPCL)
43
Achievement :
- Achievement for signing of Share Purchase
Agreement to acquire the shares in MPPCL was on
June 25, 2014.
- Acquisition transaction was completed on July 15,
2014 and Shareholders’ Agreement was signed on
the same date.
Achievement
Masinloc Power Partners Company Limited (MPPCL)
44
Power Plant Description
Type: Coal Fired Power Plant
Technology: Subcritical Pulverized Coal
Installed Capacity: 2x315 MW
Contracted Capacity: 589 MW
Location: Zambales Province, Luzon, the Philippines
COD: Unit 1 - June 1998 / Unit 2 – December 1998
History
- MPPCL was originally developed and owned by NPC, the
Philippines state power utility.
- In 2008, AES acquired MPPCL through privatization auction.
- Upon takeover, AES executed on rehabilitation plan during
2008-2010
- MPPCL is now operating at world class standards
O&M : MPPCL employees
After
Upon turn-over
in April 2008
April 2009,
1 year after turn-over
Rated Capacity
150 - MW
(Unit 1: 150 MW,
Unit 2: 0 MW)
630 – MW
(2x315 MW)
Heat Rate > 12,000 btu/kwh 9,995.5 btu/kwh
(average full load)
Availability
Factor < 50% > 90%
Auxiliary Load > 12% < 8.5%
Environmental
Footprint
Compliant with
Philippine Standards
Surpasses Philippine,
World Bank Standards
45
Luzon
Metro Manila
Masinloc
Masinloc Power Partners Company Limited (MPPCL)
Masinloc is located
250 Km north of
Metro Manila
46
51.00% 40.95% 8.05%
Masinloc Power Partners Co Ltd
(Phlippines) “MPPCL”
Masinloc Power Partners Company Limited (MPPCL)