Electricity Generating Public Company Limited or EGCO Group reached the shareholders’ agreement to invest in “Nam Theun 1” hydropower project while the Project’s power purchase agreements (PPAs) have been signed with the Electricity Generating Authority of Thailand (EGAT) and Electricite Du Laos (EDL).

Mr. Chanin Chaonirattisai, Director, Acting President of EGCO Group said that EGCO Group has satisfactorily reached an agreement with the existing shareholders to jointly develop the “Nam Theun 1” hydropower project which is located on the Nam Kading River, Bolikhamxay Province, Lao PDR. Shareholders’ agreement of Nam Theun 1 Power Company Limited (NT1PC) has been signed on September 4, 2017 to have EGCO Group hold 25% stake while Phonesack Group Co.,Ltd. and EDL-Generation Public Company (EDL-Gen) retain 60% and 15% respectively.

On September 23, 2017, NT1PC entered into PPAs with EGAT and EDL to supply 514.3 MW power to EGAT and additional 130 MW to EDL for 27 years starting from the commercial operation date in 2022.

“Such investment follows our strategic direction to expand overseas portfolio in countries where the Company has strong presence and meets our target to grow the renewable portfolio to 30% by year 2026. With this project, EGCO Group’s renewable portfolio is increased to 1,040 MW, accounted to 23% of the Company’s total equity contracted capacity. This project would obviously help enhance Thailand’s power stability and respond to the rising demand of electricity in Lao PDR,” concluded Mr. Chanin.