Friday, 23 August 2013

Solar, Project, Photovoltaic
27 Jun 2013

Electricity Generating Plc (EGCO2, the first independent power producer in Thailand, has paid 3.2 billion baht (A$110m) for full ownership of the Boco Rock Wind Farm in New South Wales, Australia.

In its press statement issued Thursday, the company said the purchase was a result of a 100% investment in Asia Pacific Renewables Ltd, principally owned by Continental Wind Partners, the developer of the wind farm. The share purchase agreement was executed on Tuesday.

The 113MW Boco Rock Wind Farm, comprising 67 wind turbines to be supplied by General Electric Co International Incorporated and its related subsidiaries, is about 160 km south of Canberra. The wind farm has entered into a 15 year power purchase agreement with EnergyAustralia Pty Ltd, with commercial operations expected to start in February 2015.

Sahust Pratuknukul, the company's president said the investment is in line with EGCO Group's strategic plan to seek new investment opportunities in Thailand and overseas. It is the company's first successful investment in Australia and is intended to help maintain the company's growth while offering long-term returns for shareholders.