Tokyo Gas Picks Up Stake in Thai Gas Fired Power Plant

Tokyo Gas on October 3 said it has completed the purchase of stake in a Thai gas fired power plant.

The Japanese entity completed the acquisition of 28% interest in Eastern Power and Electric Company from French Total. The company did not disclose the price. This marks Tokyo Gas’ first participation in power generation businesses in southeast Asia.

The power plant, called Bang Bo Power Plant, is 50 km east of Bangkok. The 350-MW power plant began commercial operation in March 2003. The full generating capacity of the plant is contracted to the Electricity Generating Authority of Thailand under long-term power purchase agreements.

According to Tokyo Gas, Thailand's power market will keep growing at 3%/yr. The company added that it will continue to expand its overseas business under “Challenge 2020 Vision” initiative. With a regional focus on southeast Asia and North America, it intends to be competitive across the entire LNG value chain by taking measures such as formation of alliances with local energy companies, the Japanese firm stated.

Shardul Sharma