The Electricity Generating Authority of Thailand (Egat) is pushing forward its 303-billion-baht budget for building power facilities between now and 2017.
Egat governor Sutat Patmasiriwat said funding will come from various sources including bonds and bank loans, as Egat's debt-to-equity ratio is only 0.5 times.
"We expect to use our operating cash and accumulated profit for about 50% of the total investment, with the rest from loans and bonds," he said.
The first phase of investment projects includes six more power plants at its existing plant location worth a combined 180 billion baht, adding capacity of 4,300 megawatts to its 36,900 MW nationwide.
Of that total, 17,590 MW comprise all the private power producers and the power purchased from Laos.
The six plants include the 800-MW Wang Noi gas-fired power plant and the gas-fired Chana plant with 800 MW. Both are under construction and scheduled to operate next year, while the 800-MW North Bangkok unit 2 is slated for 2015.
The 600-MW Mae Mo coal-fired power plant will replace a retired unit, expected to be operational in 2019-20, while the new 800-MW Krabi coal-fired power plant aims to be operational in 2019.
The last plant is the 200-MW Lam Ta Khong hydroelectric unit.
For the second phase, part of the investment budget of 123 billion baht will go towards the expansion and upgrade of transmission lines in Greater Bangkok, said Mr Sutat.
As well, new lines will link Thailand with neighbouring countries.