EDFI and the EDF Group

The EDF Group is a complete energy provider, operating in 24 countries and serving 46.7 million customers worldwide (32.2 million in France). In 2002, the global installed capacity of the EDF Group was approximately 121,000 MW, including over 101,000 MW in France and over 16,000 MW elsewhere in Europe.
In addition, in Vietnam, EDFI is the leading shareholder (56.25%) of Mekong Energy Company Limited (“MECO”), a special purpose company developing the 715 MW Phu My 2.2 combined cycle project.
In Asia, EDF’s development plans are focused on China and the Greater Mekong region.
In China, EDFI owns a majority stake in the 720 MW coal-fired Laibin B project in Guangxi and a 20% stake in the 3,000 MW coal-fired Shandong Zhonghua project.
In Vietnam, EDFI owns the Phu My 2.2 gas-fired power project and has also implemented distribution network rehabilitation projects with funding from the French Government and various multilateral organisations.

2.2 Electricity Generating Public Company Limited
Role in Project:

  • *    Project Sponsor and Shareholder
  • *    Technical Service Provider
The Electricity Generating Public Company Limited (“EGCO”) was established on 12 May 1992 in accordance with the Government of Thailand’s privatisation policy for the energy sector in order to reduce the public sector’s financial burden and to enhance the efficiency of the country’s electricity generating operation.
EGCO’s establishment as the first independent power producer in Thailand was undertaken with the aim to acquire some of the assets of the Electricity Generating Authority of Thailand (“EGAT”) and supply generating capacity and electrical energy to EGAT under long-term power purchase agreements. In addition, as a second line of business, EGCO has sought out possible investment opportunities and developments both in Thailand and in neighbouring countries.
IIn June 1994, EGCO established the Rayong Electricity Generating Co., Ltd to acquire the 1,232 MW Rayong gas-fired combined cycle power station from EGAT (the acquisition completing in December 1994). In February 1995 EGCO established the Khanom Electricity Generating Co., Ltd to acquire the 824 MW Khanom power station from EGAT (the acquisition completing in June 1996) . Both power stations entered into long term power purchase with EGAT. The two power stations are the largest operating subsidiaries of EGCO. Both stations have been awarded ISO 9002 certification and Khanom power station has also passed ISO 14001 certification for its environmental management system.
EGCO’s electricity generating operations vary from the 1,232 MW Rayong power plant to small, independent power producers operating through Gulf Electric Public Co Ltd. The operations include both fossil-fuel fired power stations and environmentally clean power stations using agricultural waste as the fuel source.
EGCO’s financial performance since its inception has been very strong and has seen the company win numerous accolades, including
  • *    “Deal of the Year” (Asia Money Magazine, 1996) in respect of the the Khanom power station assets;
  • *   “Best Local Currency Offering for an Asian Investor” (Financial Asia Magazine, 1997) in respect of EGCO’s 15 year THB 7.5 billion       ebenture (at the time, the largest value and longest tenor THB bond ever issued); and
  • *    “Asia’s best regarded company in Thailand” (Euromoney, 1998).
EGCO also received the 2002 Disclosure Award from the Securities Exchange of Thailand and the honourable trophy on the best corporate governance company rated by the Thai Rating Information Service Company Limited.
2.3 Lao Holding State Enterprise
Role in Project:
* Project Shareholder
LHSE was established by the Government of Lao PDR on 23 February 2005. LHSE is wholly owned by the Ministry of Finance. It is supervised by the Ministry of Energy and Mines and the Ministry of Finance. The Board of Directors is appointed by the Ministry of Finance with the General Manager reporting directly to the Board.