PÖYRY AWARDED TECHNICAL ADVISORY SERVICES ASSIGNMENT FOR THAILAND COMBINED CYCLE PROJECT
VANTAA, Finland -- 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.
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 recognized within the Energy Business Group order stock in H1 2018, with the remaining phases to be recognized in H2.
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