GPSC to invest $757 million in 250 MW energy recovery unit

The board of Thailand-based Global Power Synergy Public Company Limited (GPSC) has approved a plan to invest $757 million in Thai Oil Public Company’s energy recovery unit (ERU) with a capacity to generate 250 MW of power and 175 tonnes per hour of steam. Thai Oil will supply refinery by-products to be used as fuel for the ERU. GPSC will make a down payment of $138 million to Thai Oil over the next four years and the remaining amount will be paid by 2023 through loan financing. The construction process could take about 58 months and is due to be completed by the third quarter of 2023.

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