PRESS RELEASE 17 Oct 2018
Pöyry awarded with technical advisory services assignment for Thailand's largest combined cycle gas turbine project
PÖYRY PLC Press Release 17 October 2018 at 13:00 pm (EET)
Gulf Energy Development Co., LTD (GED) and Mitsui & Co. Ltd, who jointly own the project for Thailand's largest proposed combined cycle gas turbine (CCGT) have awarded Pöyry with a technical advisory services assignment. The 2,500 MW project, consisting of four generating units with each having 625 MW generating capacity, will be located in Sriracha District, Chonburi Province, Thailand.
Pöyry acts as Lenders Technical Advisor in the project, including technical due diligence, construction monitoring and operation monitoring. The anticipated lenders are leading international and local investment banks.
The commercial operation date (COD) for the first unit is projected to be in March 2021, with the second to fourth units expected to reach COD in October 2021, March 2022, and October 2022, respectively.
The new power plant is expected to be the cleanest and most efficient CCGT plant in Thailand. The power plant will comply with the environmental and social standards and the International Finance Corporation (IFC) - Performance Standard, reducing its environmental and social impact beyond the Thai National Standard requirements. It will also help to ensure reliable and cost-effective power within the country, and support Thailand's goal to develop the special economic zone in the same region - the Eastern Economic Corridor.
"We are very pleased to have been chosen by GED and the project lenders to be their partner in developing the biggest CCGT plant in Thailand. We are proud to continue our important role in helping to provide more affordable and reliable electricity for the Asian countries," said Petteri Härkki, Regional Director of Pöyry.
GED is one of Thailand's largest power producers. GED provides safe and reliable energy by using state-of-the-art facilities and partnering with industry experts like Pöyry. Pöyry has had similar Lenders Technical Advisory roles in the last three large CCGT projects developed by the Gulf companies in Thailand.
The value of the order is not disclosed. The first phase of the order has been recognised within the Energy Business Group order stock in H1 2018, with the remaining phases to be recognised in H2.
For further information, contact:
Managing Director Thailand and Regional Director Asia I,
Thermal Power and Renewable Energy
Tel. +66 81 854 3712
Did you know?
- Pöyry is one of the largest power sector consulting engineering companies in Southeast Asia, involved in over 30,000 MW of on-going thermal, hydro and renewable energy projects in the region.
- Pöyry has been involved as lenders technical advisor in more than 30,000 MW of power plant projects globally.
- Pöyry has had 50 major power plant projects and a total of more than 200 power sector-related assignments in Thailand so far.
Pöyry is an international consulting and engineering company. We serve clients across power generation, transmission & distribution, forest industry, biorefining & chemicals, mining & metals, infrastructure and water & environment. Together, we deliver smart solutions and work with the latest digital innovations. Pöyry's net sales in 2017 were EUR 522 million. The company's shares are quoted on Nasdaq Helsinki. Approximately 5500 experts. 40 countries. 115 offices.
In 2018 Pöyry is proud to be celebrating its 60th Anniversary, together with employees, clients and partners.