Banpu Power Public Company Limited (BPP) has announced that on March 31, 2021, the company, through its 100% owned subsidiary, Banpu Power Investment Co., Ltd. (BPIC), has entered into a Share Purchase Agreement for the investment of 33.50% in the Nakoso IGCC Management Co., Ltd (NIMCO).
The investment would allow BPP to acquire Nakaso IGCC Power Plant, a 543 MW integrated gasification combined cycle, located in Fukushima Prefecture, Japan, through the 40% ownership of NIMCO.
The Nakoso IGCC Power Plant has been developed by the 5 joint venture partners led by Mitsubishi Corporation Power, Japan using the Integrated Gasification Combined Cycle (IGCC) technology, which is a gas-fired power plant that combine Coal Gasification technology using a high-pressure gasifier to turn coal into synthesis gas as fuel and Gas Fired Combined Cycle Plant technology.
The IGCC is a cutting-edge proven technology that has been in research & development for more than 30 years, and this Nakoso power plant is the largest commercial scale IGCC with high efficiency and low emission (HELE).
This power plant is expected to achieve its Commercial Operation Date (COD) by April 2021, and supplies electricity through the high voltage transmission system under long-term Power Purchase Agreement and has long-term fuel supply contract in place.
BPP stated that it will continue its sustainable growth strategy to achieve a capacity target of 5,300MW in 2025, seeking investment opportunities in power projects by focusing on cleaner technology in the markets with attractive growth and supportive government policy.