Corporate Presentation · Thermal 20 Jun 19, 1996 Jun 2016 Combined Cycle 20 Jun 19, 1996 Jun 2016 GPG (KK2) Saraburi Natural Gas Combined Cycle 50.00% 1,468.00 734.00 25 May 5, 2007

Corporate Presentation J.P. Morgan’s Asia Yield 1x1 Forum in Japan

September 17-18, 2015

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, however, 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: [email protected]

2

3

Thailand Electricity’s Overview

EGCO Group’s Overview

Financial Performances

Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances

4 Source: EPPO, ERC and EGAT

EGAT Electricity Generating Authority of Thailand IPP Independent Power Producer

MEA Metropolitan Electricity Authority SPP Small Power Producer

PEA Provincial Electricity Authority VSPP Very Small Power Producer

ERC Energy Regulatory Commission IMPORT Purchasing from Laos & Malaysia

EGAT Generators Transparent transfer pricing

IPPs

END User

Transmission System Owner (TSOw)

MEA

Industrial

User

PEA

IMPORT SPPs

Re

gula

tors

(ER

C)

Single Buyer Transmission

Network System Operator (NSO)

VSPPs


5

Classified by Producer Classified by Fuel type

As of July 2015, Thailand’s Power Installed Capacity was 36,171.03 MW.

EGAT : 15,492 MW SPP : 3,816 MW

IPP : 13,967 MW Import : 2,896 MW

Natural Gas : 24,938 MW Coal : 4,556 MW

Hydro : 6,002 MW Others* : 675 MW

*OTHERS = Fuel Oil, Diesel, Renewable Source: EGAT

43%

38%

11%

8%

EGAT IPP SPP IMPORT

69%

17%

12%

2%

NATURAL GAS HYDRO COAL OTHERS*


15,000

20,000

25,000

30,000

January Februaary March April May June July August September October November December

2010 2011 2012 2013 2014 2015

6

MW

Source: EGAT

1.5% 26,942.10 MW (April 23, 2014)

26,049.50 MW (July 2, 2015)


27,345.80 MW (June 11, 2015)

7

On May 14, 2015, The National Energy Policy Council approved Thailand’s Power Development Plan (PDP 2015). The Plan was endorsed by the Cabinet on June 30, 2015.


To reduce gas-fired portion from 65% to 30-40% in 2036

To increase coal-fired portion from

20% to 25%

To increase renewable

portion from 8% to 20-25%

To set Reserve Margin at least 15% of peak electricity

demand.

The average tariff rate over PDP 2015 is 4.587 Baht/kWh.

At the end of 2036, Thailand’s power installed capacity would

be up to 70.4 GW.

8

Total capacity (as of December 2014)

37,612 MW

Total additional capacity during 2015 - 2036

57,459 MW

Total retired capacity during 2015 - 2036

-24,736 MW

Grand total capacity (at the end of 2036)

70,335 MW

The total generating capacity during 2015 – 2036 can be summarized as the following:

• Gas-fired power plants 17,478 MW

• Renewable power plants 12,205 MW

• Import from other countries 11,016 MW

• Coal-fired power plants 7,390 MW

• Cogeneration power plants 4,119 MW

• Pumped Storage Hydro power plants 2,101 MW

• Nuclear power plants 2,000 MW

• Combined Cycle power plants 1,250 MW

57,459 MW


9





10

The first Independent Power Producer (IPP) in

Thailand established on May 12, 1992 through

a spin off by EGAT.

Listed on the Stock Exchange of Thailand

on January 16, 1995


EGAT 25.41%

TEPDIA 23.94%

Thai Investors

12.48%

Foreign Investors

20.88%

NVDR 17.29%

TEPCO 50%

Mitsubishi 50%

NDF* 50.11%

Others 49.89%

* Nuclear Damage Liability Facilitation Fund

As of September 4, 2015

11


12

BOD

President

1 seat

EGAT

4 seats

TEPDIA

4 seats

Independent Directors

6 seats


13

EGCO (President)

EGAT

Mitsubishi Corporation TEPCO EGAT


Power Business

To develop and acquire power plants with multiple fuel types.

Service Business

To provide operation, maintenance, engineering and construction services to power plants and other industries.

Other Business

To invest in water businesses that supply raw and tap water and the integrated energy business.

14

EGCO Group’s business lines can be categorized into 3 business groups:


//upload.wikimedia.org/wikipedia/commons/b/b4/Belarus-Minsk-Power_Plant-4-50.jpg

EGCO Contract

Shares Years

IPP

Thermal 20 Jun 19, 1996 Jun 2016

Combined Cycle 20 Jun 19, 1996 Jun 2016

GPG (KK2) Saraburi Natural Gas Combined Cycle 50.00% 1,468.00 734.00 25 May 5, 2007 & Mar 1, 2008 May 2032 & Mar 2033

BLCP Rayong Coal Thermal 50.00% 1,346.50 673.25 25 Oct 2006 & Feb 2007 Oct 2031 & Feb 2032

2,155.45

SPP

EGCO Cogen Rayong Natural Gas Cogeneration 80.00% 112.18 89.74 21 Jan 28, 2003 Jan 2024

GCC Saraburi Natural Gas Cogeneration 50.00% 108.63 54.32 21 Sep 3, 1998 Sep 2019

NKCC Saraburi Natural Gas Cogeneration 50.00% 121.30 60.65 21 Oct 12, 2000 Oct 2021

SCC Samut Prakan Natural Gas Cogeneration 50.00% 114.45 57.23 21 Sep 23, 1999 Sep 2020

GYG Yala Parawood Thermal 50.00% 20.20 10.10 25 Nov 28, 2006 Nov 2031

272.04

Renewable (Domestic)

NED Lop Buri Solar PV Solar PP 66.67% 63.00 42.00 10 Dec 22, 2011 & May 2, 2013 Dec 2021 & May 2023

SPP2 Saraburi Solar PV Solar PP 100.00% 8.00 8.00 10 May 2, 2012 May 2022

SPP3 Si Sa Ket Solar PV Solar PP 100.00% 8.00 8.00 10 Feb 21, 2012 Feb 2022

SPP4 Si Sa Ket / Ubon Ratchathani Solar PV Solar PP 100.00% 6.00 6.00 10 Jan 24, 2012 Jan 2022

SPP5 Roi Et Solar PV Solar PP 100.00% 8.00 8.00 10 Jun 22, 2012 Jun 2022

GPSNakhon Sawan /

Chai Nat / PhetchabunSolar PV Solar PP 60.00% 26.00 15.60 10 Mar 1-5, 2012 & Feb 1, 2013 Mar 2022 & Feb 2023

TWF Chaiyaphum Wind Wind Turbine 90.00% 6.90 6.21 10 Jul 18, 2013 Jul 2023

Roi-Et Green Roi Et Rice Husk Thermal 70.30% 8.80 6.19 21 May 29, 2003 May 2024

SolarcoNakorn Pathom / Suphan

Buri Solar PV Solar PP 49.00% 57.00 27.93 10 Nov 18, 2013 & Dec 16, 2013 Dec 2023

GIDEC Songkhla Waste Thermal 50.00% 6.50 3.25 10 Dec 11, 2014 Dec 2024

131.18

Overseas

QPL Philippines Coal Thermal 98.00% 460.00 450.80 25 May 30, 2000 Jun 2025

NTPC (NT2) Laos Hydro Hydro PP 35.00% 1,023.00 358.05 25 Apr 30, 2010 Apr 2035

MPPCL Philiphines Coal Thermal 40.95% 589.00 241.17 3-16 Jun 1998 & Dec 1998 Jan 2022 (Meralco)

SEG Indonesia Geothermal Thermal 20.00% 227.00 45.40 30 Jun 2000 & Mar 2009 Jun 2030 & Mar 2039

BRWF Australia Wind Wind Turbine 100.00% 113.00 113.00 15 Nov 28, 2014 Nov 2029

1,208.42

3,767.09

Total Renewable

Total Operating Projects

Total Overseas

748.20

CODPlant TypeContracted

Capacity (MW)

Attrib. Capacity

(MWe)

Total SPPs

ExpiredPower Plant

100.00%Natural Gas

Total IPPs

KEGCO (KN2&3)

Province/Country Fuel Type

Nakhon Si Thammarat 748.20

15

Currently, EGCO Group’s portfolio comprises of 23 operating power plants, totaling contracted capacity 3,767.09 MWe.


16

Currently, EGCO Group’s portfolio consists of 3 under construction projects and 4 under development projects, totaling contracted

capacity 1,720.95 MWe.


EGCO Contract

Shares Years

Under Construction

KEGCO (KN4) Nakhon Si Thammarat Natural Gas Combined Cycle 100.00% 930.00 930.00 25 Jun 2016 Jun 2041

XPCL Laos Hydro Hydro PP 12.50% 1,280.00 160.00 29 Oct 2019 Oct 2048

CWF Chaiyaphum Wind Wind Turbine 90.00% 90.00 81.00 25 Dec 2016 Dec 2041

1,171.00

Under Development

TP Cogen Ratchaburi Natural Gas Cogeneration 100.00% 113.00 113.00 25 Oct 2017 Oct 2042

SK Cogen Ratchaburi Natural Gas Cogeneration 100.00% 107.00 107.00 25 Oct 2017 Oct 2042

TJ Cogen Pathum Thani Natural Gas Cogeneration 100.00% 107.00 107.00 25 Jun 2017 Jun 2042

SBPL Philippines Coal Thermal 49.00% 455.00 222.95 20 Q1/2019 Q1/2039

549.95

1,720.95

Plant Type

Total Under Construction and Under Development Projects

Total Under Construction

Total Under Development

Contracted

Capacity (MW)

Attrib. Capacity

(MWe) COD ExpiredPower Plant Province/Country Fuel Type

17

KEGCO (KN2&3), GPG (KK2),

EGCO Cogen, GCC, NKCC, SCC

Total 1,744 MW

Roi-Et Green, NED, SPP2,

SPP3, SPP4, SPP5, GYG,

GPS, TWF, SEG Solarco,

GIDEC, BRWF

Total 300 MW

BLCP, QPL, MPPCL

Total 1,365 MW

NTPC (NT2)

Total 358 MW

46%

36%

10% 8%

Natural Gas Coal Hydro Renewable



57%

7%

4%

32%

IPP SPP Renewable (Domestic) Oversea

18

Quezon, NTPC (NT2), MPPCL, SEG, BRWF

Total 1,208 MW

KEGCO (KN2&3), GPG (KK2),

BLCP

Total 2,155 MW

NED, SPP2, SPP3, SPP4, SPP5, GPS, TWF, Solarco, GIDEC,

Roi-Et Green

Total 131 MW

EGCO Cogen, GCC, NKCC, SCC, GYG

Total 272 MW



61% 33%

5% 1%

Thailand Philippines Australia Indonesia

19

Thailand 52% Laos 9% (NTPC, XPCL)

As of July 30, 2015


XPCL

Laos QPL Quezon

BRWF

New South Wales

AUSTRALIA

INDONESIA

PHILIPPINES

MME

Muara Enim

Asia Pacific Region

THAILAND

MPPCL Zambales

20

NTPC

Laos

SEG

West Java

SBPL Quezon

21

Saraburi GCC; Gas

NKCC; Gas GPG (KK2); Gas

SPP2; Solar

Yala GYG; Parawood

Nakhon Sri Thammarat KEGCO (KN2&3); Gas

KEGCO (KN4); Gas Samutprakarn SCC; Gas

Rayong

BLCP; Coal

EGCO Cogen; Gas

Roi-Et Roi-Et Green; Rice Husk SPP5; Solar

Srisaket SPP3; Solar SPP4; Solar

Ratchaburi TP Cogen; Gas SK Cogen; Gas Pathumthani

TJ Cogen; Gas

Chaiyaphum TWF; Wind Farm CWF; Wind Farm

Nakhon Pathom/Suphanburi Solarco; Solar

Nakhon Sawan GPS (Ta Keet); Solar GPS (Ta Sang); Solar

Lopburi NED; Solar

Phetchabun GPS (Bueng Sam Phan); Solar

Songkhla GIDEC; Waste

Chai Nat GPS (Dong Korn); Solar

● IPP

● SPP

● Renewable

2020 2019 2018 2017 2016 2015

22

Under Development Projects

Under Construction Projects

KEGCO (KN4) (Gas)

CWF (Wind)

XPCL (Hydro)

TP Cogen (Gas)

SK Cogen (Gas)

TJ Cogen (Gas)

SBPL (Coal)


-1,500

-1,000

-500

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

5,500

6,000

1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

23

1994: 1,232 MW

RYPP

(1,232)

(749)

(55) (75)

KEGCO (KN1) Retired

RYPP Retired

KEGCO (KN2&3) Retired

GCC Retired

CONAL: WMPC (19), SPPC (10) Divestment

KEGCO (KN1,2&3) GCC

SCC Conal - WMPC Conal - SPPC

NKCC

EGCO Cogen Roi-Et Green

BLCP GYG

GPG (KK2) QPL

NTPC (NT2)

NED

SPP2-5 GPS

TWF Solarco

MPPCL SEG BRWF GIDEC

CWF KEGCO (KN4)

TP Cogen SK Cogen TJ Cocen

XPCL SBPL

(29)

MWe

NED (Add.)

Thai Market EGCO Group’s Overview Financial Performance

4,685 MWe

Currently, EGCO Group’s other business portfolio comprises 5 companies:

Company Business Type

EGCO Engineering and Service Co., Ltd. (ESCO)

Pearl Energy Philippines Operating Inc. (PEPOI)

Quezon Management Services Inc. (QMS)

Eastern Water Resources Development and Management Plc. (EASTW)

Manambang Muara Enim Co., Ltd. (MME)

O&M

O&M

Management Service

Water

Coal Mining

24


25

Operate power plants to achieve optimum efficiency and manage projects under construction to achieve COD on time

Acquire operating assets to realize quick earning

Boost long-term earning by acquisition of greenfield projects and/or expansion of existing projects


26





(84)

Q2/2014 Q2/2015

Unit: Million Baht

MD&A +31 MB or +1 %

2,597

2,471

1,397

Net Profit before FX, DT and TFRIC 4&12

FX

Deferred Tax

TFRIC 4&12

(1,191)

27

2,566

13

(234)

126

75


(135)

6M/2014 6M/2015

Unit: Million Baht

MD&A -536 MB or -12 %

3,899

4,956

2,930

Net Profit before FX, DT and TFRIC 4&12

FX

Deferred Tax

TFRIC 4&12

(1,077)

28

4,435

54

173

294

243


Note: Excluding EGCO

Quezon 1,113 MB

BLCP 1,220 MB

Renewable (Domestic) 943 MB

NTPC 693 MB

MPPCL 479 MB

SPP 194 MB (GEC, EGCO Cogen)

29

KK2 606 MB

Other Business 130 MB, 2% (Egcom Tara, ESCO, MME) Renewable (Overseas)

42 MB, 1%

22%

20%

17%

13%

11%

9%

3%

KEGCO 123 MB, 2%


2012 2013 2014 2011

11,240

7,164

Unit: Million Baht

7,667

30

Gain from Combination

4,310 MB

6,930

4,990


USD 1,380 M

THB 19,097 M

JPY 17,194 M

Total Outstanding (Baht equivalence)

THB 74,040 M

Total Outstanding

As of June 30, 2015

USD 1,432 M

THB 22,899 M

JPY 17,194 M

THB 81,741 M

Total Outstanding

As of March 31, 2015

AUD 244 M AUD 249 M

31


Times (X)

0

0.2

0.4

1.2

0.8

1.0

0.6

1.6

1.4

2010 2011 2012 2013 2014 Q2/2015

EGCO

EGCO +

Subsidiaries

Debt 95,046 MB

Equity 76,195 MB

Equity 57,261 MB

Debt 44,453 MB

EGCO + Subsidiaries EGCO

32

0.21 0.25

0.70

0.87

1.17

1.25

0.17 0.23

0.41 0.44

0.78 0.78


-

1.00

2.00

3.00

4.00

5.00

6.00

7.00

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

1.00 1.25 1.25 1.50 1.50 2.00 2.25 2.50 2.50 2.50 2.50 2.75 2.75 3.00 3.00 1.25

1.25 1.50 1.50 1.75

2.00

2.50 2.50 2.75 2.75 2.75

3.25 3.25 3.25

Baht/Share

33

6.00

5.25 5.25 5.25

4.75

4.00

3.25 3.00

2.75 2.50

2.25

6.00

5.00

6.25

Interim Payment Second Payment

Note : BOD in the 20th August’s Meeting approved the appropriation of net profit from the first-half year operation of 2015 at 3.00 baht for the interim dividend payment which will be paid on September 18, 2015.


THANK YOU

Divestment of EGCOM Tara

Co., Ltd. (EGCOM Tara) Sale all ESCO’s shares in EGCOM

Tara (74.19% of shares in EGCOM Tara) to Universal Utility Co., Ltd, a wholly owned subsidiary of East Water .

The divestment of EGCOM Tara was completed on August 31, 2015.

Type : Tap Water Producer

Location : Ratchaburi and Samut

Songkram Province

Contractual Type : BOO Term of Contract : 30 years from

April 7, 2001

with PWA

36

Khanom Power Plant Project Unit 4 (KN4)

Overall Progress : As of July 2015, the overall progress was 93.30%.

Details of Construction work :

• All major equipment were on base.

• Related piping and electrical works are being conducted.

Type : Combined Cycle Power Plant

Location : Khanom, Nakhon Si Thammarat

Shareholders : EGCO 100%

SCOD : June 19, 2016

Contractual Type : IPP

Contracted Capacity : 930 MW

PPA : 25 years with EGAT

37

Xayaburi Power Plant Project

(XPCL) Overall Progress : As of June 2015,

the overall progress was 46.43%.

Details of Construction work :

• Construction work of Navigation Lock Control Building is ongoing.

• Excavation for Powerhouse and Fish Pass is ongoing.

Type : Hydro Power Plant (Run of River)

Location : Xayaburi District, Laos PDR

Shareholders : EGCO 12.5%, CK 30%, EDL 20%, BECL 7.5%, GPSC 25%, PT Construction and Irrigation Co., Ltd. 5%

SCOD : October 29, 2019


Contracted Capacity : 1,220 MW with EGAT and 60 MW with EDL

PPA : 29 years with EGAT and EDL

38

Chaiyaphum Wind Farm

(CWF) Overall Progress : As of July 2015,

the overall progress was 16.75%.

• Details of Construction work :

• Excavation, lean concrete work and anchor bolt installation for WTG foundations are ongoing.

Type : Wind Power Plant

Location : Sub Yai, Chaiyaphum

Shareholders : EGCO 90%, PVI Group 10%

SCOD : December 1, 2016

Contractual Type : SPP Non-Firm

Contracted Capacity : 90 MW with EGAT

Adder : 3.50 Baht/kWh for 10 years

39

TJ Cogeneration Project

(TJ Cogen) EPC Contract : EPC signing was

executed on April 1, 2015.

Financing : Financial Close is expected to be achieved in November 2015.

Others : EIA for natural gas pipeline and EIA for power plant were approved on July 31, 2014 and February 5, 2015, respectively. BOI certification issuance is in process.

Type : Cogeneration Power Plant

Location : Klong Luang, Pathum Thani


SCOD : June 1, 2017

Contractual Type : SPP Cogeneration

Installed Capacity : 110 MW

Contracted Capacity : 90 MW with EGAT

Contracted Capacity with IU : 17 MW and 10 t/h of steam

40

TP & SK Cogeneration

Project (TP Cogen &

SK Cogen)

EPC Contract : EPC Contract was signed on November 1, 2014.

Financing : Financial Close is expected to be achieved in September 2015.

Others : EIA for natural gas pipeline and EIA for power plant were approved on March 20, 2014 and March 19, 2015, respectively . BOI certification is in process.

Type : Cogeneration Power Plant

Location : Ban Pong, Ratchaburi


SCOD : October 1, 2017

Contractual Type : SPP Cogeneration

Installed Capacity : 125 MW each

Contracted Capacity : 90 MW each with EGAT

Contracted Capacity with IU : TP Cogen 23 MW and 40 t/h of steam SK Cogen 17 MW and 60 t/h of steam

41

San Buenaventura Power Co., Ltd.

(SBPL) EPC : EPC contract was signed on

October 8, 2014.

Financing : Financial Close is expected to be achieved in Q3/2015.

Others : On May 20, 2015, the ERC of Philippines approved the Power Supply Agreement (PSA) between SBPL and MERALCO.

Type : Coal-Fired Power Plant

Technology : Supercritical Boiler Location : Quezon Province, Luzon, The Philippines

Shareholders : EGCO 49%, MPG 51%

SCOD : March 1, 2019


Installed Capacity : 500 MW

Contracted Capacity : 455 MW with Meralco

PSA Term : 20 years with 5-year extension

42

43 43

44

Currently, EGCO Group’s portfolio comprises of 9 domestic renewable power plants and 2 oversea renewable power plants, totaling

contracted capacity 283.39 MWe.

EGCO Contract

Shares Years

Renewable (Domestic)

NED Lop Buri Solar PV Solar PP 66.67% 63.00 42.00 10 Dec 22, 2011 & May 2, 2013 Dec 2021 & May 2023

SPP2 Saraburi Solar PV Solar PP 100.00% 8.00 8.00 10 May 2, 2012 May 2022

SPP3 Si Sa Ket Solar PV Solar PP 100.00% 8.00 8.00 10 Feb 21, 2012 Feb 2022

SPP4 Si Sa Ket / Ubon Ratchathani Solar PV Solar PP 100.00% 6.00 6.00 10 Jan 24, 2012 Jan 2022

SPP5 Roi Et Solar PV Solar PP 100.00% 8.00 8.00 10 Jun 22, 2012 Jun 2022

GPSNakhon Sawan /

Chai Nat / PhetchabunSolar PV Solar PP 60.00% 26.00 15.60 10 Mar 1-5, 2012 & Feb 1, 2013 Mar 2022 & Feb 2023

TWF Chaiyaphum Wind Wind Turbine 90.00% 6.90 6.21 10 Jul 18, 2013 Jul 2023

Roi-Et Green Roi Et Rice Husk Thermal 70.30% 8.80 6.19 21 May 29, 2003 May 2024

Solarco Nakorn Pathom / Suphan Buri Solar PV Solar PP 49.00% 57.00 27.93 10 Nov 18, 2013 & Dec 16, 2013 Dec 2023

GIDEC Songkhla Waste Thermal 50.00% 6.50 3.25 10 Dec 11, 2014 Dec 2024

131.18

Renewable (Overseas)

SEG Indonesia Geothermal Thermal 20.00% 227.00 45.40 30 Jun 2000 & Mar 2009 Jun 2030 & Mar 2039

BRWF Australia Wind Wind Turbine 100.00% 113.00 113.00 15 Nov 28, 2014 Nov 2029

158.40

289.58

Total Renewable (Domestic)

Total Renewable (Overseas)

Total Renewable

Power Plant Province/Country Fuel Type Plant TypeContracted Capacity

(MW)

Attrib. Capacity

(MWe) COD Expired

Muara Enim MME; Coal Mining Project

45

Rayong ESCO; O&M and Engineering Services

Chachoengsao

East Water; Pipe Water Generating Chon Buri

Rayong

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

3M 6M

1,869

4,435

1,299

3,899

2014 2015

Million Baht

46

47

# : Unit : Actual in 6M/2014

: Actual in 6M/2015 D : Days

Jan Feb Mar Power Plant

QPL

MPPCL

(46D)

(7D) (43D)

#2

(17D)

(12D) (21D)

BLCP (9D) (22D)

Apr May Jun

#1 #1

#1

#1 #2

#2 (19D)

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Documents

Corporate Presentation · Thermal 20 Jun 19, 1996 Jun 2016 Combined Cycle 20 Jun 19, 1996 Jun 2016 GPG (KK2) Saraburi Natural Gas Combined Cycle 50.00% 1,468.00 734.00 25 May 5, 2007