Bangkok:EGCO Group has signed power purchase agreements (PPAs) for 11 solar farm projects, marking a significant expansion of its clean energy portfolio. The agreements, totaling 448.10 megawatts, are set to provide stable revenue over a 25-year period, with construction expected to commence in 2027. This development is a strategic move towards EGCO's Net Zero goal.
According to Thai News Agency, the Electricity Generating Public Company Limited (EGCO Group) has finalized 25-year PPAs with the Electricity Generating Authority of Thailand (EGAT) and the Provincial Electricity Authority (PEA) for these projects. The projects, all part of the RE Big Lot Phase 2 initiative, are located in Ratchaburi, Suphanburi, Kanchanaburi, Rayong, and Songkhla provinces. They include 10 Small Power Producer (SPP) projects supplying EGAT and one Very Small Power Producer (VSPP) project supplying PEA.
The fixed Feed-in Tariff (FiT) for these projects is set at 2.1579 baht per kilowatt-hour, with a special rate of 2.6579 baht per kilowatt-hour for the Songkhla projects. This tariff structure aims to support the growing demand for green electricity in industrial and data center sectors. Commercial operations are expected to begin in phases between 2028 and 2030.
Mr. Thawatchai Samranvanich, President and CEO of EGCO Group, stated that the signing of these contracts reflects the company's strategic capabilities in expanding its clean energy initiatives. With operations set to start from 2028, EGCO Group is poised to explore new opportunities in Thailand's renewable energy landscape, including participating in upcoming bids and expanding direct PPA collaborations to bolster the industrial sector's electricity supply.