International Power Dedicates New CCGT Plant in Thailand
(London - 2 February, 2001) International Power plc today celebrated the Formal Opening of its new 110 MW combined cycle gas turbine (CCGT) cogeneration power plant in Pluak Daeng, Rayong Province in Thailand. The plant went into commercial operation on 4 October 2000, and has operated at 99.8% availability over the ensuing 4-month period.
"We are proud of the Pluak Daeng plant, and we are dedicated to operating it in a manner that will support the expansion of the Thai economy and protect the environment," said Sir Neville Simms, Chairman of International Power. Sir Neville, who participated in the opening ceremony in Bangkok, also said "the successful completion of this greenfield project demonstrates our capability to develop and operate power plants on time and under budget."
International Power, which has invested US$ 90 million in Pluak Daeng, owns the plant through its wholly owned subsidiary Thai National Power (TNP). The power plant is part of the Thai government's Small Power Producer program, established in the early 1990s to encourage efficient energy usage throughout the country. Under this program 90MW of the output is sold through a 25-year power purchase agreement with the state owned Electricity Generating Authority of Thailand (EGAT). The remaining power will be sold to local customers on the Siam Eastern Industrial Park, through a private distribution network, which is currently under construction. The plant will also produce steam, and TNP is actively seeking a steam host for this output. TNP's immediate focus is on ensuring that the plant meets its obligations under the PPA with EGAT for both electricity and steam sales. The company also will continue to monitor developments in the market and will look at new business opportunities that meet our investment criteria.
David Leich, TNP's Chief Executive Officer, said: "this plant is a credit to all the team that developed this project and brought it into operation. We will be able to provide clean power into the Thailand grid system and sell reliable, low price power and steam to existing and new factories on Siam Eastern Industrial Park."
Notes to editors
International Power is one of the world's largest independent electric generating companies with over 6,700 megawatts (net) in operation, 4,500 MW (net) under construction and approximately 8,000 MW (net) in advanced development. Among the countries where International Power has operating facilities are Australia, the United States, the United Kingdom, the Czech Republic, Portugal, Spain, Turkey, Malaysia, Pakistan, and Thailand. International Power was created from the demerger of National Power, and its shares began trading independently on the London Stock Exchange and as ADRs on the New York Stock Exchange on 2 October, 2000. The ticker symbol on both stock exchanges is "IPR".
Also in attendance at the Pluak Daeng opening ceremony were His Excellency Mr L. B. Smith, British Ambassador to Thailand, Khun Vitaya Kotcharug, EGAT Governor and Khun Anantachai Kunanantakul, President of Siam Eastern Industrial Park and Senator of Thailand.
The plant is located approximately 120 km southeast of Bangkok.