Thailand-based Banpu Group, an international versatile energy provider, allots at least US$200 million in renewable energy projects to accelerate its growth in the US market. Banpu Power Public Company (BPP), the power generation arm of Banpu Group, plans to build solar and wind projects with a total of approximately 400 megawatts (MW) capacity in Texas next year. Its Texas facilities are expected to account for 50% of Banpu's global renewable portfolio, plants in Australia, China, and Japan are included by 2025, according to The Star.
Flashed back to August 10, BKV-BPP Power LLC, a new company equally owned by Banpu Power US Corporation and BKV Corporation, had signed a Purchase and Sale Agreement ("PSA") to purchase 100% interest in Temple Generation Intermediate Holdings II, LLC, the entity that initially owned Temple 1 power plant (Temple I) located in Texas, USA. The acquisition cost US$430 million (THB 14,147 million).
Temple I is a combined cycle gas-fired power plant with generating capacity of 768 MW, and the plant achieved Commercial Operation Date (COD) on July 15, 2014. It is strategically located in the State of Texas, one of the most concentrated, and rapidly growing, population centers in the US. This power plant is also one of the most efficient Combined Cycle Gas Turbines (CCGT) in the Electric Reliability Council of Texas (ERCOT) power market, with its high flexibility, efficiency, and equipped with advanced emissions-control technology.
Thereby, Temple I is ideal for the Energy Reliability Council of Texas (ERCOT) market as its competitiveness reflecting in its priority dispatch according to its merit order to serve the dynamic demand pattern in the market. Moreover, as an operating power plant, it can contribute immediate cash flow to Banpu Group. This investment is a significant milestone under long-term investment strategy and a steppingstone to the power business under wholesale electricity market with the advanced trading system and mechanism in the US. It reflects the acceleration of Banpu Group's transformation under a greener & smarter strategy in embracing future trends and growing towards smarter energy for sustainability.
Temple I CCGT Power Plant Information; credit: Banpu Group
Banpu Power is currently operating 3 core groups of businesses - energy resources, energy generation, and energy technology in 10 countries, including Thailand, Indonesia, China, Australia, Lao PDR, Mongolia, Singapore, Japan, the US, and Vietnam.
