The Electricity Generating Public Company Limited (SET: EGCO) announced on Monday that it has successfully acquired additional 10.00% of the common shares in Chaiyaphum Wind Farm Company Limited (CWF) and Theppana Wind Farm Company Limited (TWF) from the existing minority shareholders.
The share transfer was completed on September 22, 2022; as a result, EGCO is the wholly-owner of those two projects accordingly. This transaction was approved by EGCO’s Board of Directors in the meeting No. 8/2022 held on July 25, 2022.
CWF and TWF are the operating wind power plants, located in Chaiyaphum Province with the installed capacity of 80 MW and 7.5 MW, respectively. CWF has the Power Purchase Agreements (PPA) with the Electricity Authority of Thailand while TWF has the PPA with the Provincial Electricity Authority.
Furthermore, both power plants operate efficiently with high availability and the machines are well-maintained in a good condition.
This additional investment accords to EGCO’s Group strategic plan to expand its business in renewable power generation while assisting in the reduction of Carbon Emissions and Carbon Intensity. Also, it is consistent with EGCO Group’s direction “Cleaner, Smarter and Stronger to Drive Sustainable Growth” which aims to promote sustainable growth over the long term and achieve carbon neutrality by 2050 in support of the global low-carbon goals.