The Thai government has yet to license EGAT International Co., Ltd. (EGATi) – the investor of Quang Tri 1 thermal power plant – to invest in projects overseas, making construction plans uncertain.
|EGATi has yet to get Thai government's approval to develop Quang Tri 1 thermal power plant (Illustration) |
While EGATi is waiting for the Thai government’s approval to invest overseas, it has proposed to allow an additional Thai joint venture to develop Quang Tri 1 thermal power plant.
EGATi has also yet to establish a build, operate, transfer (BOT) company in Vietnam to develop the thermal power plant. Previously, the investors originally planned to establish the company in June.
The investor is negotiating a series of contracts for construction, including the BOT and government guarantees and undertakings (GGU) contract, power purchase agreement (PPA), coal supply contract (CSA), coal transportation (CTA) contract, and lease land agreement (LLA).
In August 2013, the government approved EGATi to develop the plant in Quang Tri with a capacity of 1,200MW.
In March 2016, the project was added to the list of power projects for development in the 2016-2020 period with the expectation that its two turbines would come into operation in 2023 and 2024. Within the same year, the Ministry of Industry and Trade approved the project’s feasibility report.
According to the plan, the project would be implemented under the BOT model with Ultra Super Critical (USC) technology.
In November 2019, EGATi kicked off the construction of the plant. Situated in Quang Tri Economic Zone, the plant has the total investment capital of $2.39 billion, with a planned capacity of 1,320MW (2x660MW). However, since then, the construction has yet to be implemented.
The local authorities urged the investor to start construction of the project many times, and the investor committed to officially implement the construction last September, however, to date, nothing has changed.