Participation in Wind Energy Project in Thailand
December 12, 2011
Chubu Electric Power Co.,Inc.
This is to announce that Chubu Electric Power has decided to participate in a wind energy project in northeastern Thailand and has acquired 20% of shares in each of First Korat Wind Co., Ltd. and K.R. Two Co., Ltd., the operating companies in this project.
This is Chubu Electric Power's initial participation in a wind energy project outside Japan.
The project will implement a total of 180 MW (90 MW x 2) of wind energy at a site of about 37 km2 inside Nakhon Ratchasima Province (260 km northeast of Bangkok). At the planned completion in March 2013, it will be the first full-scale commercial wind energy project in Thailand.
Under a sales contract with the Electricity Generating Authority of Thailand (below, EGAT), the generated electricity will be sold wholesale to EGAT.
Joint investors in this project are Ratchaburi Electricity Generating Holding PCL (below, RATCH),* our local partner in Thailand, and Aeolus Power (Wind-Energy) Limited (below, Aeolus, a holding company invested in by civil engineering company DEMCO PLC and developer Wind Energy Holding Co., Ltd.).
Thailand has been a key operating base in Asia for Chubu Electric Power since our first participation in an overseas investment in 2001 and with the 2006 establishment of our Bangkok office. Through our participation in this new project, which follows our joining of a cogeneration project in an industrial park in Thailand in April this year, we anticipate strengthening our initiatives in Thailand, as well as contributing to one part of global environmental conservation overseas.
To ensure sustainable growth in the future, we aim to increase revenues by making use of our managerial resources and advancing overseas businesses. Additionally, we aim to reinforce our business foundation by enhancing our technological and brand strengths through overseas projects, and we seek to step up our domestic energy service even more.
* Ratchaburi Electricity Generating Holding (RATCH)
A major private electric power generating company in Thailand. It is a holding company, with 45% of its shares owned by EGAT. RATCH is a joint investor with Chubu Electric Power in a Ratchaburi natural gas thermal power generation project (RATCH owns a 25% share).