SET-listed Electricity Generating Plc (Egco) said its latest 80-megawatt wind farm in Chaiyaphum province has started commercial operation, helping to generate more revenue for the company as well as support renewable energy.
President and chief executive Chanin Chaonirattisai said the power plant has total contracted capacity of 80MW, comprising 32 wind turbines producing 2.5MW each.
He said the company sells its net output to the Electricity Generating Authority of Thailand under a five-year power purchasing agreement under the small power plants scheme, which can be renewed every five years.
"Our latest wind power plant in Subyai district, Chaiyaphum commenced commercial operation to supply electricity to the national grid on Dec 16," he said.
He added the new venture is the company's third wind power plant following Theppana wind farm in Thepsathit district, Chaiyaphum, and Boco Roc wind farm in Australia.
Egco currently operates 15 renewable power plants with total equity contracted capacity of 746MW, comprising 12 domestic plants with total equity contracted capacity of 213MW and one plant each in Laos, Indonesia and Australia, with total equity contracted capacity of 533MW.
The power plants generate electricity using several fuel sources such as biomass, waste, water, solar, wind and geothermal.
The renewable energy portfolio accounts for 18.1% of the company's total equity contracted capacity.
Egco posted a third-quarter profit on increasing operating revenue from Khanom Power Plant 4 and large-scale plants overseas.
Third-quarter net profit stood at 2.84 billion baht, reversing a year-earlier net loss of 151 million baht.
For the nine-month period from January, the company posted a net profit of 7.5 billion baht, up 92.8% year-on-year.
The company is pursuing investment opportunities in six overseas projects including two in Laos, one of which is the 912MW Pak Beng hydropower plant. The project has been submitted to the Mekong River Commission for review by the Lao government.
Other projects are the 650MW Nam Thuen 1 hydropower plant, two projects in Indonesia, expansion of the 120MW Star Energy geothermal power plant. Egco also plans to bid for Chevron's geothermal power plants.
Mr Chanin said the company is also pursuing the 1,220MW Quang Tri coal-fired power project in Vietnam and a power project in the Dawei special economic zone in Myanmar. Egco also acquired an additional 8.05% share in the Masinloc power plant in the Philippines.
EGCO shares closed yesterday on the SET at 195 baht, unchanged, in trade worth 59.7 million baht.