ADB signs a $180M agreement with Gulf PD
02 December 2019
The Asian Development Bank (ADB) and Gulf PD Company Limited (Gulf PD) recently signed a USD180 M agreement to build and operate a 2,500-megawatt (MW) combined cycle gas turbine power plant in the Rojana Rayong 2 Industrial Park of Thailand’s Rayong Province, about 150 km southeast of Bangkok.
The plant will be fully operational by 2024, delivering at least 16,000 gigawatt-hours of electricity to users. With the state-of-the-art combined-cycle gas turbine technology to be used at the plant, the project will mean 1 million fewer tons of carbon dioxide is emitted every year compared with current electricity grid emissions. The plant will be integral to sustaining Thailand’s energy security given that more than 8,500 MW of generating capacity of aging power plants will be retired between 2020 and 2025.
Gulf PD was established in 2012 to develop, construct, own, and operate the 2,500 MW power plant. ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.