Four companies to jointly invest in 15 power plants
Local power and waste management companies have teamed up to co-invest in 12 waste-to-energy power plants and three refuse-derived fuel production facilities in a move to support the state’s bio-, circular and green economic policy.
The collaboration aims to develop facilities with large power generation capacity as well as help the country better manage waste from the industrial sector, said Supawat Khunvoravinij, acting managing director of Earth Tech Environment, a waste recycling and disposal service provider.
His company, together with Gulf Energy Development, one of Thailand’s largest private power producers, Waste Tech Exponential, a waste recycling and power generation operator, and Better World Green, a waste storage and transport provider, are joining forces to develop power generation and waste disposal projects.
The four companies already signed a power purchase agreement with the Provincial Electricity Authority, the state power distribution arm.
The power plants are scheduled to start operation within the next two years, said Yupapin Wangviwat, the deputy chief executive and chief financial officer of Gulf.
Ms Yupapin’s company and Earth Tech Environment formed a joint venture to develop 10 waste-to-energy power plants, each with capacity of 8 megawatts. They made an equal investment in the development, the cost of which is estimated at 15 billion baht.
Another two waste-fired power plants are jointly invested by Gulf (34%), Waste Tech Exponential (33%) and Earth Tech Environment (33%). The cost of their construction has not been disclosed.
Gulf and Better World Green also set up a joint venture, with an equal investment from the two companies, to develop three waste processing factories to supply refuse-derived fuel to the power plants.
The two firms did not unveil the development cost.
The power plants and waste management facilities will play a key role in enhancing energy security for the country and, at the same time, support the government’s policy to better manage industrial waste, said Mr Supawat.
Using waste as a fuel for power generation is one way to reduce dependence on fossil fuels, which are blamed for causing climate change.