Thai EGCO to search solar, wind project options in Philippines - report

Jul 23, 2012 - Thai independent power producer Electricity Generating Pcl (EGCO) will examine solar and wind power project opportunities in the Philippines, Philippine daily Manila Bulletin reported today, citing the company's vice president John Matthew Palumbo.

The company, which in May agreed to expand to 98% its stake in Philippine firm Quezon Power Ltd, the owner of the 503-MW Quezon coal-fired power plant, is studying options to pursue even solar projects that are not eligible to feed-in tariff (FiT) incentives, Palumbo told the daily. Quezon Power had already conducted studies for wind projects development on selected sites.

The daily added that EGCO would use its 55-MW Lopburi solar project in Thailand as an example for its planned solar investments in Philippines as it uses the cheapest and the most efficient photovoltaic (PV) technology. The BHT-8-billion (USD 252m/EUR 208m) project is slated for commissioning this year. EGCO is developing the plant jointly with Japan's Mitsubishi Corp (TYO:8058) and Hong Kong-based China Light and Power Holdings Ltd (HKG:0002). Sharp Corp (TYO:6753) is the engineering, procurement and construction contractor and PV panels supplier for the project.

(BHT 10 = USD 0.315/EUR 0.260)

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