HCMC – Three leading energy companies of Thailand—Egco Group, Egat International and Ratch Group—signed a joint agreement on September 16 to develop a thermal power plant in Vietnam, the Vietnam News Agency reported.
Egat International will hold a 40% stake in the Quang Tri 1 power plant, while Egco Group and Ratch Group will hold a 30% stake each. However, the total investment of the project has not been revealed.
The coal-fired power plant will be located in Hai Lang District of the north-central province of Quang Tri, with an installed capacity of 1,320 MW. The power plant will be fueled by sub-bituminous coal and use the ultra-supercritical technology, which is the most advanced technology with the highest efficiency available at present.
The project is expected to be put into commercial operation in 2025. The electricity generated will be sold to Vietnam Electricity Group under a long-term power purchase agreement.
Acting president of Egat International Santichai Osotpavapusit said the project has received complete support from both the Thai and Vietnamese governments as well as the Electricity Generating Authority of Thailand.
According to Egco Group’s president Thepparat Theppitak, Quang Tri 1 is among the first in Vietnam to use ultra-supercritical technology, which is known for its high efficiency and environmental friendliness.
“The project, therefore, best supports Egco Group’s commitment to sustainable energy business operations with responsibility to the environment, social development and quality of life of the people living near our power plants. We are committed to bringing our expertise and experience in operating and managing overseas thermal power plants, such as in the Philippines, to help make the Quang Tri 1 thermal power plant successful through close cooperation with Egat International and the Ratch Group.”