Nefix Energy, an independent power producer, has recently awarded an engineering, procurement, and construction (EPC) contract to a consortium of Korean construction companies for a 110 MW (megawatt) cogeneration project in Rayong Province, Thailand.
The consortium of Korean construction companies includes Doosan Heavy Industries & Construction, as well as SC Engineering. The project aims to supply and erect a General Electric 6FA gas turbine that operates in a combined cycle with a Doosan DST-G20 steam turbine.
This is a turn key fixed price EPC contract will supply electricity to the Electricity Generation Authority of Thailand (EGAT) and industrial customers. The power purchase agreement is set to span 25 years.
“We are encouraged by the progress we are making in the development and financing of the project, our first in the country,” Nefix Energy founder and co-CEO, Surender Singh said.
“We are pleased to serves our customers by providing reliable and competitive power and have the opportunity to contribute to the fast-growing economy of Thailand,” Singh added.
Nefix Energy acquired the project in June 2017. It will be financed by a consortium of lenders that is led by Standard Chartered Bank.
“The entry into this project and the achievement of the EPC signing is yet another indication of Nexif Energy’s continued momentum in the Asia Pacific (APAC) region since our formation in late 2015,” said Nefix Energy founder and co-CEO Matthew Bartley. “We are working hard to progress our pipeline of power generation projects throughout Vietnam, the Philippines, Bangladesh and Australia.”
About Nefix Energy: Formed in August 2015, Nefix Energy is a Singapore-based independent power management company and a leading global energy-focused private equity firm that has more than $9 billion USD invested across eight fund vehicles. The company’s goal is to develop, finance, construct and opportunistically acquire conventional and renewable power generation assets in Asia and Australia.