EGCO Group ready to participate in 2nd RE Big Lot bidding for over 10 solar projects
Electricity Generating Public Company Limited or EGCO Group will participate in the second phase of renewable energy bidding (RE Big Lot) called by the Energy Regulatory Commission of Thailand (ERC) and enter more than 10 ground-mounted solar projects into the bid.
The company’s participation in the RE Big Lot bidding is in line with EGCO Group’s goal to increase the proportion of renewable energy capacity up to 30% by 2030, which will support Thailand’s transformation towards low low-carbon society and attract foreign investment through clean energy promotion.
Jiraporn Sirikum, President of EGCO Group, said, that EGCO Group is committed to supporting the development of low carbon society and achieving sustainable growth. Under the company’s “Cleaner, Smarter and Stronger to Drive Sustainable Growth” business direction, the short-term goal is to increase the proportion of renewable energy capacity up to 30% of the total capacity by 2030. To achieve this goal, the company has invested in renewable and clean energy projects in Thailand and abroad. Domestically, EGCO Group will enter over 10 ground-mounted solar projects, which were qualified in the Pass/Fail Basis at the first phase of the RE Big Lot but were not selected, into the second-phase auction. ERC will open the new phase of bidding on 8 October 2024.
“EGCO Group believes in the potential of the ground-mounted solar farms that we will enter into the second phase of RE Big Lot. We have extensive expertise in the electricity industry and project management for decades and have highly experienced strategic partners as well as knowledge of the development sites. The advantages will surely enhance our competitiveness. If successful in this bidding, EGCO Group will have higher renewable energy in our portfolio. This is in line with our goal to increase the proportion of renewable energy capacity up to 30% by 2030,” said Jiraporn.
ERC earlier announced a plan to buy renewable energy projects under the second phase of RE Big Lot bidding totalling 2,180 MW. This includes no more than 600 MW of wind farms and no more than 1,580 MW of solar farms. The 198 bidders who joined the first-phase bidding and have passed the Pass/Fail Basis but were not selected will be eligible to join the second-phase bidding. After this, ERC will announce a general purchase of the remaining 1,488 MW quota in the third-phase bidding.
