Project Financing for Natural Gas-fired Combined Cycle Power Plant in Thailand
Supporting Japanese Business for Developing Overseas Integrated Infrastructure System

  • Area: Asia
  • Infrastructures
  • Environment
  • [Project Finance]

JBIC singed a loan agreement of project financing*1 with Gulf JP NS Co., Ltd. (GNS), a subsidiary of Electric Power Development Co, Ltd. (J-POWER) in Thailand, for financing a project to build and operate a natural gas-fired combined cycle power pant with the capacity of 1,600 MW in Nong Saeng district, Saraburi Province. The project is a typical form of Japanese deployment of overseas integrated infrastructure system project, with J-POWER leading the project deploying the latest facilities and technologies by Mitsubishi Heavy Industries Ltd.

Project Outline

Project Description Build and operate a natural gas-fired combined cycle power plant with a capacity of 1,600 MW (800 MWx2), and sell the electricity generated to the Electricity Generating Authority of Thailand (EGAT) for 25 years.
Project Company Gulf JP NS Company Limited incorporated in Thailand
Location Nong Saeng District, Saraburi Province, Kingdom of Thailand
Loan Signing November 4, 2011
Sponsors Electric Power Development Co, Ltd. (J-Power), Gulf Energy Development Company
Related Japanese Companies J-Power, Mizuho Corporate Bank, Ltd.
Total Cofinancing Amount 1.184 billion US dollars
JBIC Loan Amount 270 million US dollars
  1. *1Project finance is a financing structure that relies primarily on the cash flow generated by the project for repayment. It is used for financing large projects in such sectors as power generation and oil, gas or other natural resource development.
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