GPSC started commercial operation of its IRPC-CP 2, running at the full capacity of 240 MW with another 180-300 tonnes per hour of steam to be sold to the Electricity Generating Authority of Thailand (EGAT), which will help generate certain revenue to the company to continue on its sustainable growing pace.

Dr.Toemchai Bunnag, President and Chief Executive Officer (CEO) of Global Power Synergy Public Company Limited (GPSC), a power and utility flagship of PTT Group, said its IRPC-CP 2 power plant in Rayong province has started commercial operation since November 15, 2017. The power plant is the project that GPSP holds 51% stakes, which should help generated additional revenue to be booked in the company’s balance sheet in Q4/2017 onwards.

The power plant is a 240 MW gas-fired cogeneration plant, which should help consume power resource efficiently and could produce another 180-300 tonnes per hour of steam. The power plant was developed under the small power plant (SPP) scheme and has had a power purchasing agreement (PPA) to sell 180 MW to EGAT for 25 years. It has started COD since today at noon. The rest 60 MW power and the 180-300 tonnes per hour of steam will be sold to IRPC Plc., he said.

“Having a long-term PPA under the SPP scheme is a major development of our company and also one of our success to develop a power plant and started the operation as planned. It will also help secure the country’s power supply as also reflect our potential and strength to develop the project as we have promised to our customer and we finally meet the aim,” said Dr. Toemchai.

This COD will help increase the company’s total equity-based power generating capacity to 1,509 MW. Moreover, the 20.8 MW Ichinoseki Solar Power (ISP1) in Japan is also due to start the commercial operation date (COD) by the end of this year. This will make GPSC total power generating capacity to rise to 1,530 MW, which should help boost the company’s revenue to grow constantly, he said.

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