Gulf Energy Development Plc has teamed up with China Datang Overseas Investment Co (CDTO), a subsidiary of a mainland energy firm, to ink a tariff memorandum of understanding (MoU) with the Electricity Generating Authority of Thailand (EEGAT) for the Pak Beng hydroelectric power project. The announcement was made in a statement to the Stock Exchange of Thailand.
The Pak Beng Power joint venture sees Gulf taking a 49% stake, whilst CDTO holds a 51% equity stake with a mission to operate the Pak Beng project. The parties have also agreed to a power purchase contract with EEGAT. This agreement spans 29 years from the commercial operation date, with electricity tariffs averaging 2.7129 baht per kilowatt-hour.
With a total investment cost of 100 billion baht, the Pak Beng project is currently securing loans from various…
