Mr. Kirana Limpaphayom, Chief Executive Officer of Banpu Power Public Company Limited, said "BPP's investment in the "Temple I" CCGT power plant is how we build upon the business ecosystem of our parent company that is operating shale gas production business in the United States. It is also in line with our direction to invest in an operating power plant which utilizes High Efficiency, Low Emissions (HELE) technology in order to generate immediate cash flow. Highlights of this power plant can be divided into five main points: 1. It is a large power plant that is operated by combined cycle gas turbines or CCGT technology that uses natural gas as fuel. Combining the working process of gas turbine and steam turbine, it allows electricity production to be more efficient and environmentally friendly. 2. It is strategically located in the State of Texas where the demand of electricity highly increases since Texas has rapid growth rate of population and is one of the fast-growing economic centers in the US. 3. This power plant is ideal for the Electric Reliability Council of Texas or ERCOT market as its competitiveness reflecting in its priority dispatch according to its merit order to serve the dynamic demand pattern in the market. 4. Its facility is ready for gas transportation and gas storage which contributes to efficient cost management and increases flexibility in the operation of the power generation in accordance with the pattern of electricity demand in the area. 5. With a 30-year-long contract for water supply, it ensures stability and is conducive to the long-term production process, together with good wastewater management system of near zero liquid discharge facility."
"This investment, subject to customary closing conditions, is expected to be completed in accordance with the terms of the contract and BPP is expected to recognize revenue from this asset within Q4/2021. The Company continues to sustainably expand its power generation capacity with a balanced portfolio between thermal and renewable power businesses and is looking for investment opportunities in power plants that operates with advanced HELE technology in the markets with growing demand of electricity and supportive government policies." added Mr. Kirana.
Including the new investment in the "Temple I" CCGT power plant, BPP, therefore, has a total equity-based capacity of 3,300 MWe. There will be three additional projects scheduled to achieve their Commercial Operation Dates (COD) in 2021, namely Vinh Chau wind power plant project phase 1 in Vietnam with a capacity of 30 MW, and two solar power plant projects in Japan including Kesennuma, 20 MW, and Shirakawa,10 MW.
Source: Ogilvy