BPP Gains 1.6% to Bt18.90 after the Announcement of 543MW IGCC Power Plant in Japan

The share price of BPP rose ฿0.30/share or 1.61% to ฿18.90/share on Tuesday, April 20, 2021, after the announcement of a commercial operation of date of IGCC Power Plant. Meanwhile, the share price of BANPU was flat at Bt12.40 per share.

 

Banpu Public Company Limited (BANPU) has announced that its subsidiary Banpu Power Public Company Limited (BPP) had been notified that, Nakoso Integrated Gasification Combines Cycle (IGCC) Power Plant, located in Fukushima Prefecture, Japan has successfully achieved its Commercial Operation Date (COD) on April 16, 2021.

 

BPP, through its subsidiary, holds 33.5% ownership in Nakoso IGCC Management Co., Ltd (NIMCO), and NIMCO holds 40% ownership in the IGCC power plant with a generation capacity of 543 MW (72.8 MW on BPP’s equity basis).

 

The Power Plant is a Gas-fired power plant that combines Coal Gasification technology using a high-pressure gasifier to turn coal into synthesis gas as fuel and Gas Fired Combined Cycle Plant technology.

This Nakoso power plant is the largest commercial-scale IGCC developed in Japan with high efficiency and low emission (HELE), provide security of electricity supply through the high voltage transmission system under long-term Power Purchase Agreement (PPA) to serve the electricity demand from both industrial and residential sector in Fukushima prefecture, also covering Tokyo city and the Greater Tokyo metropolitan area in Japan.

This IGCC plant will be part of community development through local employment, helping to create jobs and supporting the local economy.

 

BANPU stated that the company will continue its sustainable growth strategy to achieve a capacity target of 6,100 MW in 2025, seeking investment opportunities in power projects by focusing on cleaner technology in the markets with attractive growth and supportive government policy.