GHECO-One is the owner of the project, which will have a 660 megawatts (MW) generation capacity. GHECO-One is a joint venture company formed by Hemaraj Land And Development Public Company Limited and the Glow Group that own 35% and 65% of it respectively. GHECO-One has already signed the power-purchase deal with Electricity Generating Authority of Thailand (Egat) for the supply of electricity.
The construction cost of the 660 MW project is estimated at $1.15 billion (THB39.24 billion), of which $800 million would be obtained from loans and the remaining from shareholders. The main constructor of the project is Doosan Heavy Industries and Construction.
Suthiwong Kongsiri, executive vice president and chief financial officer of Glow Energy, revealed that 15% of the plant construction has been completed and the company has assured that it would meet the schedule to start providing electricity in November 2011 to Egat.
