EGCO Group acquires solar power project in Thailand
Electricity Generating Public Company Limited (EGCO Group) has acquired SPP4, a solar power project for a total consideration of THB300m ($9.58m) from MEMC Singapore.
The company purchased a total of 99.99% stake in SPP4, which is the first private solar power project equipped with the tracking system.
SPP4 owns and develops the 6MW solar power plant located in the boundary between Srisaket and Ubon Ratchtani.
Furthermore, SPP4 has entered into a non-firm power purchase agreement with Provincial Electricity Authority (PEA) under the very small power producer.
Commercial operation of the solar power plant was scheduled on 24 January 2012.
Currently, EGCO Group has an attributed contracted capacity of 4,682MW from 20 domestic and overseas power plants.
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