Cornerstone Investment in Leading Independent Power Producer Project (ADB-51273-001)

Countries
  • Thailand
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 7, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Gulf Energy Development Public Company Limited
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 75.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 120.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Jan 15, 2019

Disclosed by Bank Dec 13, 2017


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Project Description

According to the bank website, Gulf Energy is one of the leading private sector power generation companies in Thailand with the largest strategic portfolio of gas-fired power projects in the country. The company's portfolio includes ten operating gas-fired fired projects with total installed generation capacity of 4,373 MW, of which Gulf Energy's equity capacity is 1,755 MW. Gulf Energy is positioned for strong growth with the largest power project pipeline in Thailand. Approximately 11 gas-fired power projects and 1 biomass project (1,452 MW) are currently under construction with commercial operations scheduled to commence between 2017-2020 and 2 large gas-fired IPP projects (5,570 MW) are currently under development with commercial operations scheduled to commence between 2021-2024.

Investment Description
  • Asian Development Bank (ADB)
Private Actors
Contact Information

Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Infrastructure Finance Division 2
Responsible ADB Officer Lockhart, Robert S.

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main