Glow Energy expects to sell 124MW co-generation plant in Q1

Five utilities have lined up to buy the plant valued at around $188.47m.

Thailand utility and ENGIE subsidiary Glow Energy eyes a deal to sell the 124MW co-generation SPP 1 power plant in Rayong province in the first quarter of 2019, the Bangkok Post reports. The plant is valued at around $188.47m.

The country’s Energy Regulatory Commission (ERC) imposed the sale of the power plant as a condition for allowing Global Power Synergy Plc (GPSC) to acquire Glow.

Glow CEO Pajongwit Pongsivapai said the company hopes to finalise the sale before March. The report adds that five companies have lined up in hopes of buying the plant: BCPG Plc, B.Grimm Power Plc, Ratchaburi Electricity Generating Holding Plc, Electricity Generating Plc, and WHA Corporation Plc.

The concession of Glow SPP 1 ends in 2021. A renewal is being considered by the National Energy Policy Council.