ANALYST’S BRIEFING : No.4/2014
November 28, 2014
1
This presentation was made from the analysis of reliable information in order to assist
investment community to better understand the company's financial status and operation. It also
supports the "Good Corporate Governance Project" of the Securities and Exchange Commission
(SEC).
However, the information within this presentation has been derived from the existing factors in
the present time. Therefore, the forward-looking information on this presentation may not occur
in the future if the aforementioned factors or situations are changed. Investors are, nevertheless,
required to use their own discretion regarding the use of information contained in this
presentation for any purpose.
For further information, please contact Investor Relations Section of the Electricity Generating
Public Company Limited (EGCO) at Tel: (662) 998-5145-8 or Email: ir@egco.com
2
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
►
Highlights
►
Q3/2014 Financial Results
►
EGCO Group’s Overview
3
Highlights
Q3/2014 Financial Results
►
EGCO Group’s Overview
Highlights
♦
Under Construction Projects
♦
Under Development Projects
♦
Activities & Achievements
4
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
Under Construction : 4 projects
Philippines
Laos
XPCL
Xayaburi, Laos PDR
SCOD: October 2019
(35.43%)
KEGCO (KN4)
Nakhon Si Thammarat
SCOD: June 2016
(37.90%)
Thailand
BRWF
GIDEC
Songkhla
New South Wales,
Australia
Australia
SCOD: December 2014
SCOD: February 2015
(almost complete)
(93.52%)
5
Highlights
Q3/2014 Financial Results
►
EGCO Group’s Overview
Highlights
♦
Under Construction Projects
♦
Under Development Projects
♦
Activities & Achievements
6
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
Philippines
Under Development : 4 projects
Laos
TP Cogen
Thailand
Ban Pong, Ratchaburi
SCOD: February 2017
CWF
Sub Yai, Chaiyaphum
SK Cogen
SCOD: December 2016
Ban Pong, Ratchaburi
TJ Cogen
SCOD: February 2017
Klong Luang, Pathum Thani
Australia
SCOD: June 2017
7
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
Chaiyaphum Wind Farm (CWF)
Project Description
Type: Wind Power Plant
Location: Subyai, Chaiyaphum
Shareholders: EGCO 90%, PVI Group 10%
SCOD: December 2016
Contracted Capacity with EGAT : 90 MW (SPP Non-Firm)
Adder: 3.50 baht/unit for 10 years
Project Progress
BOI application was approved in July 2014.
A public consultation was held in June 2014 at Subyai District
Office.
EPC and O&M contracts are expected to be signed in
December 2014.
Financing Documents are expected to be signed in
December 2014.
Subyai
CWF
8
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
TP Cogeneration Project (TP Cogen) & SK Cogeneration Project (SK Cogen)
Project Description
Type: Cogeneration Power Plant
Location: Ban Pong, Ratchaburi Province
Shareholder: EGCO 100%
SCOD: February 2017
Installed Capacity: 125 MW each
Contracted Capacity with EGAT: 90 MW each
Contracted Capacity with IU: 23 MW and 40 T/hr of
steam (TP Cogen)
TP Cogen
& SK Cogen
Contracted Capacity with IU: 17 MW and 60 T/hr of
steam (SK Cogen)
9
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
TP Cogeneration Project (TP Cogen) & SK Cogeneration Project (SK Cogen) (Con’t)
Project Progress
PPA & SPA with Siam Kraft were signed on October 16,
2014.
EPC contract was signed on November 1, 2014.
Financing Documents are expected to be signed in
March 2015.
TP Cogen
& SK Cogen
10
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
TJ Cogeneration Project (TJ Cogen)
Project Description
Type: Cogeneration Power Plant
Location: Klong Luang, Pathum Thani Province
Shareholder: EGCO 100%
SCOD: June 2017
Installed Capacity: 110 MW
Contracted Capacity with EGAT: 90 MW
Contracted Capacity with IU: 16 MW
TJ Cogen
and 10 T/hr of steam
11
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
TJ Cogeneration Project (TJ Cogen) (Con’t)
Project Progress
PPA with Teijin was signed on October 9, 2014.
EPC selection is expected to be concluded and signed
in January 2015.
TJ Cogen
12
Highlights
Q3/2014 Financial Results
►
EGCO Group’s Overview
Highlights
♦
Under Construction Projects
♦
Under Development Projects
♦
Activities & Achievements
13
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
Achievement for acquisition of shares in MPPCL
Laos
Achievement for acquisition of shares in SEG
Philippines
Thailand
MPPCL
Zambales, The Philippines
Acquisition date: July 15, 2014
Indonesia
SEG
West Java, Indonesia
Acquisition date: July 30, 2014
Australia
14
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
Masinloc Power Partners Company Limited (MPPCL)
Achievement :
Achievement for signing of Share Purchase
Agreement to acquire the shares in MPPCL was on
June 25, 2014.
Acquisition transaction was completed on July 15,
2014 and Shareholders’ Agreement was signed on
the same date.
Achievement
15
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
Masinloc Power Partners Company Limited (MPPCL)
Power Plant Description
Type: Coal Fired Power Plant
After
Technology: Subcritical Pulverized Coal
Installed Capacity: 2x315 MW
Contracted Capacity: 589 MW
Location: Zambales Province, Luzon, the Philippines
Shareholder: EGCO 40.95%, AES 51% and IFC 8.05%
COD: Unit 1 - June 1998 / Unit 2 – December 1998
O&M: MPPCL employees
History
MPPCL was originally developed and owned by NPC, the
Philippines state power utility.
In 2008, AES acquired MPPCL through privatization auction.
Upon takeover, AES executed on rehabilitation plan during
2008-2010.
16
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
Star Energy Geothermal Pte Ltd. (SEG)
Achievement :
Acquisition transaction was completed on July 30,
2014 and Shareholders’ Agreement was signed on
October 30, 2014.
Achievement
17
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
Star Energy Geothermal Pte Ltd (SEG)
Power Plant Description
Type: Geothermal Power Plant
Location: 40km South of Bandung, West Java, Indonesia
Shareholder: EGCO 20%, Star Energy 60%, DGA 20%
COD: Unit 1 – June 2000 / Unit 2 – March 2009
Installed Capacity: Unit 1 – 110 MW/ Unit 2 – 117 MW
Contracted Capacity with PLN : SEG has the right to develop
the geothermal project up to 400 MW under Energy Sale Contract.
Energy Sale Contract: 30 years from COD of each unit
(extendable)
18
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
Baht/Share
Second Payment
Interim Payment
7.00
6.00
6.00
3.25
3.25
6.00
5.25
5.25
5.25
5.00
5.00
4.75
4.00
4.00
2.75
2.75
2.75
2.50
2.50
2.50
2.50
2008
2009
2010
2011
2.50
3.00
3.00
September
19, 2014
2.50
3.25
2.00
2.75
2.50
2.25
1.50
2.00
1.25
1.75
1.50
1.25
1.00
2.00
1.00
1.25
1.25
2002
2003
1.50
1.50
2004
2005
2.25
2.75
2.75
2012
2013
3.00
2001
2006
2007
2014
19
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
►
Highlights
►
Q3/2014 Financial Results
►
EGCO Group’s Overview
20
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
Million Baht
MD&A
3,000
-73 MB or -3%
2,500
2,223
2,150
55
53
2,000
1,500
1,000
2,168
2,097
Q3/2013 (restated)
Q3/2014
500
-
Power Generation
Others
21
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
Million Baht
2,665
3,000
2,500
49
302
Net Profit
-452 MB or -17%
103
152
91
2,000
MD&A
-73 MB or -3%
1,500
1,000
2,213
2,223
2,150
500
-
-192
-500
Q3/2013 (3M) (restated)
Net Profit Before FX, DT and TFRIC4&12
Q3/2014 (3M)
FX
Deferred Tax
TFRIC4&12
22
Highlights
Million Baht
3,000
2,500
Q3/2014 Financial Results
EGCO Group’s Overview
Construction &
Development
BRWF
16
BPU (TP&SK) (1)
CWF
(2)
GIDEC
(7)
SBPL
(10)
Decrease in AP
KEGCO (KN2&3) (224)
BLCP
(181)
GPG (KK2)
(121)
RYPP
(15)
2,223
2,150
2,150
(4)
2,000
(541)
1,890
264
1,886
208
1,682
1,500
Operating Performances
QPL
113 APPC
NTPC (NT2)
110 MPPCL
RYPP
45
Egcom Tara
GEC
43
MME
KEGCO (KN2&3) 28
North Pole
SEG
12
BLCP
EGCO Cogen
10 GPG (KK2)
Roi-Et Green
5
EGCO
ESCO
5
1,000
500
5
4
(1)
(11)
(16)
(19)
(46)
(79)
Solar & Wind
YEH (Solarco) 205
NED
18
SPP5
10
TWF
9
GPS
7
SPP2
6
SPP3
6
SPP4
3
0
Q3/2013
Q3/2014
23
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
Million Baht
8,000
7,000
6,000
6,682
84
Net Profit
+486 MB or +7%
7,168
396
325
275
4
MD&A
+266 MB or 4%
5,000
4,000
3,000
6,585
6,319
2,000
1,000
-
-138
-1,000
9M2013 (restated)
Net Profit Before FX, DT and TFRIC4&12
9M2014
FX
Deferred Tax
TFRIC4&12
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
Million Baht
9,000
8,000
7,096
7,000
6,319
6,585
6,000
5,000
4,098
4,435
4,000
3,000
2,000
1,993
1,869
1,000
-
3M
6M
2013 (restated 3M, 6M and 9M)
9M
12M
2014
25
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
ESCO 83 MB, 1%
SEG 12 MB, 0.1%
Egcom Tara 105 MB, 1%
MPPCL 4 MB, 0.05%
RYPP 379 MB
Unit: Million Baht
SPP 523 MB
(GEC, EGCO Cogen, Roi-Et Green)
4%
BLCP 2,022 MB
6%
25%
GPG (KK2) 910 MB
11%
22%
NTPC (NT2) 1,162 MB
Quezon 1,845 MB
(QPL,QMS,PEPOI)
14%
15%
Solar & Wind 1,195 MB
(GPS, SPP2-5, NED,
YEH (Solarco), TWF)
26
Note: Excluding EGCO
Highlights
Total Outstanding
(Baht Equivalent)
Q3/2014 Financial Results
EGCO Group’s Overview
Total Outstanding
As of June 30, 2014
Total Outstanding
As of September 30, 2014
AUD 191 M
AUD 212 M
USD 861 M
USD 1,477 M
JPY 210 M
JPY 157 M
THB 20,472 M
THB 21,818 M
THB 54,498 M
THB 76,145 M
27
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
EGCO + Subsidiaries
Times (X)
Unit: MB
1.4
1.18
1.2
Debt
86,392
Equity
73,316
1
0.87
0.8
0.70
0.80
Debt
Equity
0.6
EGCO
Unit: MB
0.4
0.23
0.21
0.18
0.17
2009
2010
0.2
0.25
0.41
0.44
0.23
Debt
44,829
Equity
55,713
0
2011
EGCO+Subsidiaries
2012
EGCO
2013
9M/2014
Debt
Equity
28
Highlights
Q3/2014 Financial Results
Unit: Million Baht
EGCO Group’s Overview
9M2014
Beginning Cash
1,800
Net Cash Receipts from Operating Activities
927
Net Cash Payments in Investing Activities
Dividend Receipts from Subsidiaries JVs & Others
Cash Payments for Additional Paid-up Share Capital in Subsidiary and JVs
Interest Received and Other Investments
(17,549)
3,983
(21,166)
(366)
Net Cash Receipts (Payments) in Financing Activities
Loan Repayments & Receipts
Interest Payments
Dividend Payments
Ending Cash
16,185
19,886
(412)
(3,289)
1,363
Note
• Dividend Receipts from QPL : 41 MUSD /PEPOI : 14 MUSD
• Cash Payments from Offshore to BRWF and MPPCL : 52 and 23 MUSD, respectively.
29
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
►
Highlights
►
Q3/2014 Financial Results
►
EGCO Group’s Overview
30
Highlights
Q3/2014 Financial Results
►
EGCO Group’s Overview
EGCO Group’s Overview
♦
EGCO Shareholders
♦
Portfolio and Corporate Strategies
31
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
As of September 9, 2014
NDF*
50.11%
EGAT
25.41%
NVDR
NVDR
10.43%
14.86%
TEPCO
50%
TEPDIA
Others
49.89%
23.94%
Mitsubishi
50%
Foreign
Investors
Thai
Investors
20.88%
14.91%
* Nuclear Damage Liability Facilitation Fund
32
Highlights
Q3/2014 Financial Results
►
EGCO Group’s Overview
EGCO Group’s Overview
♦
EGCO Shareholders
♦
Portfolio and Corporate Strategies
33
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
Currently, EGCO Group’s portfolio comprises of 22 operating power plants, totaling contracted capacity 4,804.86 MWe.
IPPs
EGCO
Shares
Contracted
Cap. (MW)
MW Equity
RYPP
100.00%
1,174.99
1,174.99
KEGCO (KN2&3)
100.00%
748.20
GPG (KK2)
50.00%
BLCP
50.00%
Power Plant
Power Plant
EGCO
Shares
Contracted
Cap. (MW)
SPPs
Renewable
Overseas
MW Equity
Renewable (Domestic)
IPP
100.74 MWe
2.10%
NED
33.33%
63.00
21.00
748.20
SPP2
100.00%
8.00
8.00
1,468.00
734.00
SPP3
100.00%
8.00
8.00
1,346.50
673.25
SPP4
100.00%
6.00
6.00
3,330.44
SPP5
100.00%
8.00
8.00
GPS
60.00%
26.00
15.60
TWF
90.00%
6.90
6.21
Solarco
49.00%
57.00
27.93
3,330.44 MWe
100.74
69.31%
SPP
EGCO Cogen
80.00%
112.18
89.74
Roi-Et Green
70.30%
8.80
6.19
GCC
50.00%
108.63
54.32
NKCC
50.00%
121.30
60.65
SCC
50.00%
114.45
57.23
NTPC (NT2)
35.00%
1,023.00
358.05
GYG
50.00%
20.20
10.10
QPL
98.00%
460.00
450.80
MPPCL
40.95%
589.00
241.20
SEG
20.00%
227.00
278.23
1,095.45 MWe
22.80%
278.23 MWe
5.79%
Oversea
45.40
1,095.45
Total 4,804.86 MWe
34
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
Currently, EGCO Group’s portfolio consists of 4 under construction projects and 4 under development projects,
totaling contracted capacity 1,613.25 MWe.
Under Construction
Power Plant
EGCO
Shares
Contracted
Cap. (MW)
MW Equity
Under Construction
Power Plant
EGCO
Shares
Contracted
Cap. (MW)
MW Equity
407 MWe
Under Development
GIDEC
50.00%
6.50
3.25
CWF
90.00%
90.00
81.00
BRWF
100.00%
113.00
113.00
TP Cogen
100.00%
113.00
113.00
KEGCO (KN4)
100.00%
930.00
930.00
SK Cogen
100.00%
107.00
107.00
XPCL
12.50%
1,280.00
160.00
TJ Cogen
100.00%
106.00
106.00
1,206.25
Under Development
407.00
25.2%
1,206.25 MWe
74.8%
Total 1,613.25 MWe
35
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
Currently, EGCO Group’s other business portfolio comprises of 6 companies:
Company
Business Type
EGCO Engineering and Service Co., Ltd. (ESCO)
O&M
Pearl Energy Philippines Operating Inc. (PEPOI)
O&M
Quezon Management Services Inc. (QMS)
Management Service
Eastern Water Resources Development and Management Plc. (EASTW)
Water
Egcom Tara Co., Ltd. (Egcom Tara)
Water
Manambang Muara Enim Co., Ltd. (MME)
Coal Mining
36
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
Under Construction Projects
GIDEC
BRWF
KEGCO (KN4)
XPCL
(Waste)
(Wind)
(Gas)
(Hydro)
2014
2015
2016
2017
2018
2019
2020
TP Cogen
(Gas)
CWF
(Wind)
SK Cogen
SBPL
(Coal)
(Gas)
TJ Cogen
(Gas)
Under Development Projects
Under Construction Projects
Under Development Projects
Potential Project
(Waiting for ERC ’s Approval)
37
Highlights
Q3/2014 Financial Results
EGCO Group’s Overview
Operate power plant portfolio to achieve optimum efficiency and
manage projects under construction to achieve on time and within
budget completion
Focus on seeking opportunities to acquire operating assets to
realize quick earning
Focus on the opportunities in greenfield projects to boost its earning
prospects in long term by utilizing existing projects to expand its
investments
38
THANK YOU
39
Appendices
40
As of September 2014, Thailand’s Power Installed Capacity was 34,953.02 MW.
Classified by Fuel type
Classified by Producer
1.8%
6.9%
13.0%
10.1%
44.3%
15.9%
69.3%
38.7%
EGAT
IPP
SPP
IMPORT
NATURAL GAS
HYDRO
OTHERS*
EGAT : 15,482 MW
SPP : 3,525 MW
Natural Gas : 24,221 MW
Coal : 4,556 MW
IPP : 13,541 MW
Import : 2,405 MW
Hydro : 5,549 MW
Others* : 627 MW
*OTHERS = Fuel Oil, Diesel, Renewable
Source: EGAT
COAL
41
MW
30,000
26,598.14 MW
(May 16, 2013)
26,942.10 MW
(April 23, 2014)
1.3%
24,785.24 MW
(September 20, 2014)
25,000
20,000
15,000
January
Source: EGAT
Februaary
March
April
May
June
July
August
September
October
November December
42
2009
2010
2011
2012
2013
2014
Key Financial Data:
FX Variance MD&A
43
Key Financial Data:
Deferred Income (Expense) Tax
44
Key Financial Data:
Impact of the Adoption of TFRIC 4 and TFRIC 12
Million Baht
283
300
236
200
134
154
100
40
25
10
14 7
(10) (4)
(100)
(14)
(65)
(60)
(3)
9M2013
9M2014
(77)
(200)
(300)
RYPP
KEGCO
Roi-Et
Green
BLCP
GPG
GYG
NTPC
ET
45
Key Financial Data:
Financial Ratio Highlights
9M/2013*
9M/2014
Debt to Equity (Time)
0.79
1.18
Net Debt to Equity (Time)
0.80
1.03
Net Profit before FX** (Million Baht)
6,406
6,910
EPS (Baht)
12.17
12.86
9.01
11.37
129.08
137.49
Operating Cash Flow / share (Baht)
BV / share (Baht)
* The information is up on the financial statements as of September 30, 2013.
** FX gains/losses from Income Statements including financial cost from foreign currency loans (EGCO & Subs) and JVs
46
Key Financial Data:
Segmental Operating Results, Ended September 30, 2014
47
Key Financial Data:
Segmental Operating Results, Ended September 30, 2013
48
Operating Performance (IPPs) :
Annual Net Generation & Electricity Sales for the Year 2009-2013
Net Generation
2,693
5,897
9,323
5,188
5,770
10,157
10,848
5,311
-
3,000
NT2
4,004
10,617
2,127
4,976
5,816
9,857
10,036
5,476
4,783
2,952
6,000
5,643
9,000
9,329
10,018
12,000
KK II
10,770
BLCP
6,361
KEGCO
8,813
RYPP
GWh
-
2009
2010
2011
2012
2013
27,470
2,038
2,201
1,762
2,167
7,937
8,107
17,255
29,649
18,505
7,672
2,170
2,258
6,317
2,788
2,535
-
5,000
2,319
10,000
3,722
15,000
22,655
17,868
20,000
22,750
25,000
17,706
17,909
MM Baht
30,000
22,506
Electricity Sales
-
2009
2010
2011
2012
2013
EGAT is the sole offtaker for electricity produced by Rayong Power Plant and KEGCO under long term cost-plus based Power Purchase Agreements (PPAs).
REGCO and KEGCO receive the capacity payment (Rayong Power Plant) or availability payment (KEGCO) for maintaining the availability of the power plants, regardless of whether the electric power will be supplied to EGAT
or not.
49
Operating Performance (IPPs) :
Major Maintenance Expenses for the Year 2014
Million Baht
Rayong Power Plant
Quarter
1
2
3
4
Actual
Actual
Actual
Budget
Spare Parts
3.06
0.24
0.00
0.00
3.30
Service Charge
15.21
6.45
7.35
7.21
36.22
18.27
6.69
7.35
7.21
39.52
Total
Total
KEGCO
Quarter
1
2
3
4
Actual
Actual
Actual
Budget
Spare Parts
33.47
12.39
13.02
5.22
64.10
Service Charge
23.95
4.63
5.86
4.96
39.40
57.42
17.02
18.89
10.18
103.50
Total
Total
50
Operating Performance (IPPs) :
Major Maintenance Expenses for the Year 2013
Million Baht
Rayong Power Plant
Quarter
1
2
3
4
Actual
Actual
Actual
Actual
Spare Parts
10.67
2.12
5.66
0.22
18.67
Service Charge
25.74
23.12
21.44
7.80
78.10
36.41
25.24
27.10
8.02
96.77
Total
Total
KEGCO
Quarter
1
2
3
4
Actual
Actual
Actual
Actual
Spare Parts
19.09
15.93
27.68
51.64
114.34
Service Charge
21.84
33.03
39.57
48.69
143.14
40.93
48.96
67.25
100.33
257.48
Total
Total
51
Operating Performance (IPPs) :
Operating Performance Equivalent Availability Factor
2013
Rayong Power Plant
Plant Type
1Q13
2Q13
3Q13
4Q13
Target EAF (%)
Actual EAF (%)
Target EAF (%)
Actual EAF (%)
Target EAF (%)
Actual EAF (%)
Target EAF (%)
Actual EAF (%)
CCGT #1
81.85
85.83
98.44
99.06
98.80
97.82
95.90
97.12
CCGT #2
99.63
99.66
97.60
98.47
82.25
83.44
96.74
98.00
CCGT #3
90.19
92.95
97.60
98.44
99.64
99.50
95.90
97.43
CCGT #4
99.49
100.00
98.31
99.10
97.87
97.10
96.65
96.59
2014
Rayong Power Plant
Plant Type
1Q14
2Q14
3Q14
4Q14
Target EAF (%)
Actual EAF (%)
Target EAF (%)
Actual EAF (%)
Target EAF (%)
Actual EAF (%)
Target EAF (%)
CCGT #1
95.93
100.00
97.92
99.09
99.12
100.00
99.12
CCGT #2
99.07
98.48
95.63
99.09
98.28
100.00
99.12
CCGT #3
89.47
93.33
96.54
99.00
98.89
100.00
98.28
CCGT #4
98.89
100.00
95.42
99.19
98.91
100.00
98.98
2013
KEGCO
Plant Type
Actual EAF (%)
1Q13
2Q13
3Q13
4Q13
Target EAF (%)
Actual EAF (%)
Target EAF (%)
Actual EAF (%)
Target EAF (%)
Actual EAF (%)
Target EAF (%)
Barge #1
-
-
-
-
-
-
-
Actual EAF (%)
-
Barge #2
94.00
99.51
63.01
66.83
78.67
88.18
92.90
87.36
CCGT #3
79.87
87.31
80.53
86.88
91.66
95.10
66.22
79.50
2014
KEGCO
1Q14
2Q14
3Q14
4Q14
Plant Type
Target EAF (%)
Actual EAF (%)
Target EAF (%)
Actual EAF (%)
Barge #2
91.00
82.90
91.00
CCGT #3
83.60
86.00
82.19
Barge #1
Target EAF (%)
Actual EAF (%)
96.00
91.00
88.13
90.38
99.29
87.87
94.23
94.94
-
Target EAF (%)
Actual EAF (%)
-
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Operating Performance (IPPs) :
Net Generation and Fuel Consumption
Rayong Power Plant
CCGT #1- 4
2013
1Q13
2Q13
2014
3Q13
4Q13
1Q14
2Q14
3Q14
Net Generation
- By Natural Gas (GWh)
979
1,146
288
280
441
560
123
-
0.170
-
-
0.160
-
-
8,432,352
9,904,901
2,557,558
2,483,331
3,906,610
4,951,634
1,095,950
-
0.040
-
-
0.040
-
-
- By Secondary Fuel (GWh)
Fuel Consumption
- By Natural Gas (MMBTU)
- By Secondary Fuel (Million Litre)
2013
KEGCO
Barge # 2
1Q13
2Q13
2014
3Q13
4Q13
1Q14
2Q14
3Q14
Net Generation
- By Natural Gas (GWh)
142
98
130
124
115
130
124
-
-
-
-
-
-
-
-
1,590,779
- By Secondary Fuel (GWh)
Fuel Consumption
- By Natural Gas (MMBTU)
1,791,289
1,286,936
1,695,172
1,590,779
1,470,853
1,659,281
-
-
0.004
0.002
0.029
-
- By Secondary Fuel (Million Litre)
CCGT # 3
1Q13
2Q13
3Q13
4Q13
1Q14
2Q14
Net Generation
- By Natural Gas (GWh)
- By Secondary Fuel (GWh)
1,162
-
1,181
1,288
1,062
1,099
-
-
-
-
Fuel Consumption
- By Natural Gas (MMBTU)
- By Secondary Fuel (Million Litre)
3Q14
1,302
1,062
-
-
-
-
9,404,137
9,571,503
10,481,570
8,696,415
10,493,579
10,619,075
8,696,415
0.01
0.01
-
-
-
0.02
-
53
GIDEC Waste Power Plant Project (GIDEC)
Project Description
Type: Municipal Solid Waste Plant
Location: Hat Yai, Songkhla Province
Shareholders: EGCO 50%, IEC Green Energy 50%
Expected COD: December 2014
PPA with PEA (VSPP Program)
Contracted Capacity: 6.5 MW
Adder: 3.5 baht/unit for 7 years
Project Progress
The 1st synchronization was done and PQ test is on process
with PEA.
Application for Factory Operation Permit (Ror Ngor 5) is under
preparation and COD is on process.
54
Boco Rock Wind Farm (BRWF)
Project Description
Type: Wind Power Plant (Green Field)
Location: New South Wales, Australia
Shareholder: EGCO 100%
SCOD: February 2015
PPA: 15 years with Energy Australia Pty Ltd.
Installed Capacity: 113 MW
Project Progress
Ending Q3/2014, the progress of work was 93.52%.
Construction work is progressing well, installation of 47 WTGs
was completed.
55
Khanom Power Plant Project Unit 4 (KN 4)
Project Description
Type: Combined Cycle Power Plant
Location: Khanom, Nakhon Si Thammarat Province
Shareholder: EGCO 99.99%
SCOD: June 2016
PPA: 25 years with EGAT
Contracted Capacity: 930 MW
Project Progress
Ending Q3/2014, the overall project progress was 37.90%.
Overall project progress is on schedule.
56
Xayaburi Power Company Limited (XPCL)
Project Description
Type: Hydro Power Plant Project, Run off River
Location: Xayaburi District, Laos PDR
Shareholders: EGCO 12.5%, CK 30%, EDL 20%, BECL 7.5%,
Natee Synergy 25%, PT Construction and
Irrigation Co., Ltd. 5%
SCOD: October 2019
PPA: 29 years with EGAT and EDL
Contracted Capacity with EGAT: 1,220 MW
Contracted Capacity with EDL: 60 MW
Project Progress
Ending Q3/2014, the overall project progress was 35.43%
Detailed design for Powerhouse and Fish Passing Facilities is ongoing.
Construction work is progressing well.
57
Star Energy Geothermal Pte Ltd (SEG)
The Earth core has temperature > 5000 C. The heat is continuously produced by the earth.
The heat from the underground geothermal resource is transferred to underground water and it is
turned into high temperature and high pressure steam.
The steam will be used for steam turbine to generate electricity.
The condensate will be injected back into the geothermal reservoir to maintain the underground
water. Moreover, the underground water is replenished by rainfall.
58
Star Energy Geothermal Pte Ltd (SEG)
Water/steam is extracted from geothermal reservoir through Production Wells.
Steam is separated from brine water by Separator. Hydrogen sulfide and other gases in the
steam is taken out by Scrubber before going into the steam turbine.
Steam flows directly into the Steam Turbine to generate electricity to be sold to PLN.
The condensate and brine water are injected back into reservoir through Injection Wells.
The steam flow will be declined over years of operation. The well maintenance or new make-up
59
well will be done to maintain the steam flow.
For further information, Please contact
Investor Relations at Tel. 02-998-5147-8
or E-mail: ir@egco.com
60