EGCO Acquires 113 MW Wind Farm in Australia

Electricity Generating Public Company Limited, or EGCO Group, Thailand’s first Independent Power Producer has an established track record of successfully expanding its power generation portfolio in markets outside of Thailand. The Company announced its successful investment in the 113MW “” in the State of New South Wales, Australia, via the acquisition of a 100 percent equity interest in Asia Pacific Renewables Limited (together the “Transaction”). Mr. Sahust Pratuknukul, President of EGCO Group stated that:

“The Company has invested in a strategic wind power project called “Boco Rock Wind Farm” by acquiring a 100 percent equity interest from Asia Pacific Renewables Limited principally owned by Continental Wind Partners, the developer of the wind farm. Boco Rock Wind Farm shall initially comprise  an installed capacity of 113 MW. The Share Purchase Agreement was executed on June 25, 2013. The Transaction equity quantum invested by EGCO Group is approximately 110 Million Australian Dollars or 3.2 Billion Baht.”

Boco Rock Wind Farm (“BRWF”) is located approximately 160 km south of Australia’s capital city of Canberra. BRWF shall comprise 58 units of 1.7 MW wind turbines and 9 units of 1.6 MW wind turbines which shall be supplied by General Electric International Incorporated (“GE”) and its related subsidiaries. BRWF project entered into a 15-year Power Purchase Agreement (“PPA”) with EnergyAustralia Pty Ltd. with the expected Commercial Operation Date (COD) in February 2015. EGCO Group’s president added that:

“The investment is in line with EGCO Group’s strategic plan to seek new investment opportunities in Thailand and overseas. The project is expected to partly help maintain the company’s growth momentum while offering the best possible long-term returns for shareholders. Given investment returns result from the project with fixed earnings recognition due to long-term PPA and fast earnings recognition due to short construction period. Furthermore, the project is the Company’s first successful investment in Australia which will provide a strategic platform for the future growth.”