Japanese trading company Mitsui & Co has signed an agreement to promote 12 power projects in Thailand.
The projects, in partnership with Gulf Energy Development, aim to produce 12 gas fired cogeneration power plants, with a total capacity of 1,470MV, at industrial sites in Thailand. Electricity will then be sold to the Electricity Generating Authority of Thailand for 25 years, with the excess electricity to be sold to users on the site.
It is hoped the venture will contribute to the economic development of the country.
Mitsui will contribute to the development and operation by leveraging “expertise” for power plants and businesses.
The project companies individually entered into a construction contract with Toyo Engineering Corporation and a finance agreement with several commercial banks in Thailand, Japan and Malaysia on November 28. The first plant is expected to achieve commercial operation in May 2017, with the last project in July 2019.
