EGCO Signs 25-Year PPAs for 11 Solar Projects
EGCO Group has signed 25-year power purchase agreements for 11 solar projects totaling 448 megawatts across five Thai provinces. Construction begins in 2027 with operations starting by 2030, securing fixed tariffs and long-term revenue. The deals raise EGCO's renewable portfolio to 26 percent of its 6,928-megawatt equity capacity.
EGCO Group has closed power purchase agreements for 11 projects in five provinces, with construction set for 2027 and commercial operations beginning between 2028 and 2030, locking in long-term revenue and advancing into the green electricity market to meet soaring demand.
Thawatchai Samranwanich, President of Electricity Generating Public Company Limited (EGCO Group), announced the company has successfully signed long-term 25-year power purchase agreements (PPAs) for all 11 ground-mounted solar power projects under the RE Big Lot Phase 2 program, with a combined contracted capacity of 448.10 megawatts. The projects span five provinces — Ratchaburi, Suphan Buri, Kanchanaburi, Rayong, and Songkhla — and are held through subsidiaries and joint ventures.
The portfolio comprises 10 Small Power Producer (SPP) projects selling to the Electricity Generating Authority of Thailand (EGAT) and one Very Small Power Producer (VSPP) project selling to the Provincial Electricity Authority (PEA). All projects receive a fixed feed-in tariff (FiT) of 2.1579 baht per unit for the contract duration, except the Songkhla project which receives a special rate of 2.6579 baht per unit.
Construction for all 11 projects is scheduled to begin in 2027, with commercial operation dates (COD) targeted between 2028 and 2030. The long-term PPAs with EGAT and PEA will enhance revenue stability, enabling the company to forecast cash flows and deliver long-term returns to shareholders.
Thawatchai added that the company is preparing to expand renewable energy investments further, including participating in tenders under the new Power Development Plan (PDP) and pursuing Direct PPAs to serve growing clean energy demand from the industrial sector and data center businesses.
Currently, EGCO Group holds a total equity-based capacity of 6,928 megawatts across operating and under-construction power plants, of which 1,785 megawatts — approximately 26 percent — is renewable energy. The group has investments in power and energy-related businesses across seven countries.
