GPSC wants to build three power plants in Myanmar
Global Power Synergy Co (GPSC) is planning to build power plants with a total generating capacity of nearly 3,000 megawatts in Myanmar, says president and chief executive Toemchai Bunnag.
The move is part of the company's five-year plan (2015-19) to expand in the region, where power demand is expected to increase substantially with the integration of the Asean Economic Community.
GPSC has signed a memorandum of understanding with the Myanmar government and is conducting a feasibility study to develop a 2,000MW coal-fired power plant as well as two natural gas co-generation plants with power-generating capacity of 500MW and 400MW, respectively.
"The plan to develop the natural gas co-generation plants is likely to proceed first," said Mr Toemchai.
The company is also in the process of seeking investment opportunities in Indonesia.
Mr Toemchai said the company is on track with its five-year plan, comprising investment of 18 billion baht to expand its power-generating business in Asean. The plan aims to increase GPSC's power-generating capacity to 2,800MW by 2019, up from 1,376MW.
The company has committed to projects that would generate a combined capacity of 1,917MW.
GPSC also has a hydropower project in Laos with 65MW of capacity under construction. Commercial operation is set to begin next year.
The company gained a 180-million-baht dividend from its 15% share in Ratchaburi Power Co (RPCL), a subsidiary of SET-listed Ratchaburi Electricity Generating Holding Plc (RATCH), the country's biggest private power producer.
GPSC is also expected to gain a dividend from its investment in Nava Nakorn power plant, in which it holds 30% of shares. The Nava Nakorn plant has a capacity of 125MW and is due to start commercial operation, selling both power and steam, in June.
The company plans to hold roadshows in over 10 locations in both domestic and international markets from March to April to bolster investor confidence.
GPSC shares closed yesterday on the SET at 26 baht, down 25 satang, in trade worth 49.6 million baht.