Japanese industrial group Mitsui has reached an agreement with Gulf Energy Development (GED) on the joint development of twelve gas-fired CHP plants in Thailand. The companies will set a joint venture (70% GED, 30% Mitsui), which will invest a total US$2.4bn to develop nine 120 MW projects and three 130 MW projects, representing a cumulated capacity of 1,470 MW. The projects will be developed by twelve project companies under a Build-Own-Operate (BOO) scheme and will sell electricity to the national power utility EGAT over 25 years, in accordance with Thailand's small power producer program (SPP Program). The projects will be set up in industrial estates in Thailand and will sell excess electricity and steam to industrial users around the site. Project companies have already entered into a construction contract with Toyo Engineering Corporation. Construction will start progressively and the twelve plants are expected to be commissioned between May 2017 and July 2019.
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