Electricity Generating Public Company Limited (SET: EGCO) successfully started commercial operation of the “Nam Theun 1” hydropower plant in Lao PDR and commenced the sale of electricity with a total installed capacity of 514.30 MW to the Electricity Generating Authority of Thailand (EGAT), allowing it to recognize revenue immediately in Q3/2022. This will help promote power generation from clean energy and also strengthen the stability of Thailand’s electricity system.
Mr. Thepparat Theppitak, EGCO Group’s President, disclosed that “Nam Theun 1” hydropower plant, a 25% ownership interest of EGCO, started commercial operation and supplying power to EGAT on 12 August 2022, which will enable it to recognize revenue from the third quarter this year onwards. This hydropower plant will help reduce carbon emissions by 1.49 million tons of CO2 per year, or 40.34 million tons of CO2 throughout 27 years of power purchase agreement.”
The “Nam Theun 1” hydropower plant is located at Nam Kading River, Bolikhamxay province, Lao PDR. It is a hydropower plant with a large-sized reservoir. It consists of 3 units of electric turbines, with an installed capacity totaling 650 MW. It has power purchase agreements with EGAT of 514.30 MW for a period of 27 years, and with Electricite Du Laos (“EDL”) of 130.80 MW for a period of 27 years.
“The success of the commercial operation and electricity distribution of “Nam Theun 1” hydropower plant is in line with the business direction of EGCO Group under the concept of “Cleaner, Smarter and Stronger to Drive Sustainable Growth.” It also supports the goal in reducing carbon emission intensity by 10% per unit of electricity produced, as well as increase the share of power generation from renewable energy to 30% by 2030. In addition, it also helps enhance Thailand’s power system stability and serve the rising demand for electricity in Lao PDR,” Mr. Thepparat concluded.
