Tokyo Gas, through its subsidiary Tokyo Gas Asia (TG Asia), has bought Total’s 28% stake in Thailand’s Eastern Power and Electric Company (EPEC), marking the Japanese utility’s first investment in gas-fired power generation in Southeast Asia, the company said on Monday.
The price of the stake was not revealed, but Tokyo Gas said it expects stable returns from its investment in EPEC, which operates the 350 MW Bang Bo gas-fired power plant located 50 km east of the capital Bangkok. This is because the entire generating capacity of Bang Bo has been purchased by the Electricity Generating Authority of Thailand (EGAT) under a long-term deal, Tokyo Gas said.
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