Investment/power plant

Editorial team
 
GPSC invests 3.9 billion baht in Glow SPP2 power plant 

GPSC has accelerated the establishment of Glow SPP2 power plant with the capacity of 114 MW of electricity and 230 tons of steam per hour after obtaining BOI’s approval to promote SPP replacement project in Map Ta Phut Industrial Estate.

Mr. Worawat Pitayasiri, president and chief executive officer of Global Power Synergy Public Company Limited
 
Mr. Worawat Pitayasiri, president and chief executive officer of Global Power Synergy Public Company Limited or GPSC, the innovative power flagship of PTT Group, said  that, recently, the Board of Investment (BOI) has approved the investment in the cogeneration power plant project using natural gas as fuel, with the capacity of 114 MW of electricity and 230 tons of steam per hour.
 
The total investment of the power plant is 3.98 billion baht and it belongs to Glow SPP2 Company Limited, whose 100% of the shares are held by GPSC.
 
The plant is currently under construction and it is expected to be completed in the second quarter of 2024. Also, it is anticipated that the aforementioned cogeneration power plant shall satisfy the growing demand for electricity and steam in Map Ta Phut Industrial Estate due to the expansion of investment in the Eastern Economic Corridor (EEC).

“The investment plan in the Glow SPP2 project focuses on a power plant establishment with modernized technology and at the meantime it must be environmentally friendly as well. This new power plant is designated to replace the old one (SPP Replacement Project) which was decommissioned under the power purchase agreement (PPA) with the Electricity Generating Authority of Thailand (EGAT) in terms of small power producer (SPP) according to the expiration of agreement in March and April 2024 accordingly, and it will generate power and steam for the industrial operators by means of high-efficiency technology for energy efficiency of power generation,” said Mr. Worawat.

The new power plant is located in Map Ta Phut Industrial Estate. In addition, the plant is established in line with Thailand’s power development plan 2018-2037 revision  (PDP2018 )concerning the supply of electric power sufficient to the country’s demand, with an aim to create the country's energy security that can respond to both the demand of the industrial sector and the economic growth. 

The power plant business is considered one of the company's growth strategies. The development of power plants on the same compound is regarded as an effective investment in terms of the quality of electricity and steam delivered to customers in a consistent manner according to the delivery contract. This is all to strengthen the confidence in the highly effective energy management of the GPSC Group.