Nam Theun 1 is nearing conclusion
Nam Theun 1 (NT1) has signed an MOU and tariff agreement with a 29-
years contractual life. Management strongly believes that the power
purchase agreement (PPA) conclusion is approaching and that the project
should be able to COD by 2022. EGCO’s stake is likely to be 25% while
the inclusion of NT1 in an offtake agreement plan between EGAT and
EDL reassures project visibility. We believe NT1 will impose an equity
value accretion of Bt6.30.