TTA’s shareholders approved cash dividend payments at 0.54 THB per share, cancelled and reaffirmed 50 million ordinary shares at Baht 1 par for future financial usage, and nominated four directors for another term
An annual cash dividend payment at 0.54 THB per share was approved at the 1/2010 Annual General Meeting of Shareholders of Thoresen Thai Agencies Public Company Limited (“TTA”) along with the increase of TTA registered share capital for a private placement worth 50 million THB. The meeting also approved the re-appointment of four directors for another term.
M.L. Chandchutha Chandratat, TTA President and Chief Executive Officer, reported that TTA’s shareholders approved cash dividends at 0.54 THB per share to the 708,004,413 shares, worth 382.3 million THB in total value.
“The dividends will be paid to shareholders whose names appear on TTA’s share register book on the Record Date of 8 February 2010. The share register book closing date for collecting shareholders names under Section 225 of the Securities and Exchange Act is scheduled to be 9 February 2010. The final dividend payment shall be made on 23 February 2010,” said the President & Chief Executive Officer.
“The shareholders approved the re-election of Mr. Stephen Fordham, Mrs. Pratana Mongkolkul, Mrs. Joey Horn, and Mr. Terje Schau, as directors for another term as they are highly experienced and competent.”
“It also approved the appointment of PricewaterhouseCoopers ABAS Limited as TTA’s auditor for the financial year that ended on 30 September 2010 and fix the auditors’ fees at 3.16 million THB,” said President & Chief Executive Officer Chandchutha.
He said the shareholders also approved the capital reduction by cancelling 50,048,452 authorized but un-issued shares at the par value of 1 THB each from the existing registered capital of 933 million THB to be the new registered capital of 883 million THB divided into 883,004,413 shares at the par value of Baht 1 each.
“The shareholders approved an increase of the registered capital of another 50 million THB by an issue of 50,000,000 new ordinary shares at the par value of Baht 1 each from the existing registered capital of 883 million THB to be the new registered capital of 933 million THB divided into 933,004,413 ordinary shares at the par value of 1 THB each,” reported the President & Chief Executive Officer.
“The shareholders had approved the allotment of 50,000,000 new ordinary shares of par value at 1 THB to be reserved for private placement in 1999 and re-confirmed the amount in 2009. TTA has no immediate plan to place the private placement shares in the near future. The allotment of 50 million new shares is to maintain future financial flexibility.”
The shareholders approved the issue of 4,000,000 warrants to directors and employees, including any employee(s) who is also a director, of Mermaid and its subsidiaries, under an ESOP Scheme. “The ESOP Scheme has the goal of increasing the personal stake of such directors and employees in the continued success and growth of Mermaid and motivating them to remain in the service of Mermaid on a long-term basis,” he said.
About TTA
Thoresen Thai Agencies Public Company Limited is amongst the top 50 companies listed on the Stock Exchange of Thailand with high trading liquidity. Its investment strategy is to grow through a diversified business portfolio of transport, energy, and infrastructure assets, both domestically and internationally. TTA is recognised as a leader in the dry bulk shipping industry. The company has also expanded its investment into other business areas, such as offshore services through Mermaid Maritime Public Company Limited, fertilisers and logistics through Baconco Co., Ltd., and coal-related businesses through Merton Group (Cyprus) Limited and Unique Mining Services Public Company Limited.
Sunday, February 7, 2010
Saturday, January 30, 2010
PTT Chemical and GE sign gas turbine service agreement
PTT Chemical Public Company Limited, Thailand’s largest chemical producer and a regional leader in the petrochemical industry, has signed a service agreement with GE (NYSE: GE) in Singapore to ensure the long-term reliability of nine GE gas turbines at PTT Chemical’s site in Map Ta Phut Industrial Estate, Rayong Province, Thailand.
The 13-year Contractual Service Agreement (CSA) worth US$46.1 million or approximately Baht 1,521 million covers the supply of parts, repairs and field services for planned and unplanned outages for gas turbine-generators and accessory equipment, along with performance guarantees.
Veerasak Kositpaisal, President and CEO of PTT Chemical said, “Through this agreement, GE guarantees the continuing reliability and efficiency of the gas turbines, which improves our efficiency and security as well as enables us to maintain our petrochemical production schedule. The CSA also helps us to effectively manage our maintenance budget over the life of the agreement.”
“While we have received equipment orders from PTT Chemical in the past, this marks our first CSA with the company,” said Kovit Kantapasara., GE Energy Country Executive for Thailand and Indochina. “We hope to build on this agreement to provide similar services to other companies in the PTT Group.” Overall, GE has supplied more than 20 gas turbines to the petrochemical business of the PTT Group.
PTT Chemical is a diversified and integrated chemical producer offering a wide variety of petrochemical and chemical products. Its product portfolio includes ethylene and propylene, collectively called olefins, downstream derivatives such as Polymers and Ethylene Oxide and Ethylene Glycol, and oleochemicals. The company’s gas-based plants have a total annual capacity of 2,888,000 tons of olefins, making it Thailand’s largest olefins producer and the second largest in all of Asia.
GE is a diversified global infrastructure, finance and media company that's built to meet essential world needs. GE Energy is one of the world’s leading suppliers of power generation and energy delivery technologies providing integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels.
The 13-year Contractual Service Agreement (CSA) worth US$46.1 million or approximately Baht 1,521 million covers the supply of parts, repairs and field services for planned and unplanned outages for gas turbine-generators and accessory equipment, along with performance guarantees.
Veerasak Kositpaisal, President and CEO of PTT Chemical said, “Through this agreement, GE guarantees the continuing reliability and efficiency of the gas turbines, which improves our efficiency and security as well as enables us to maintain our petrochemical production schedule. The CSA also helps us to effectively manage our maintenance budget over the life of the agreement.”
“While we have received equipment orders from PTT Chemical in the past, this marks our first CSA with the company,” said Kovit Kantapasara., GE Energy Country Executive for Thailand and Indochina. “We hope to build on this agreement to provide similar services to other companies in the PTT Group.” Overall, GE has supplied more than 20 gas turbines to the petrochemical business of the PTT Group.
PTT Chemical is a diversified and integrated chemical producer offering a wide variety of petrochemical and chemical products. Its product portfolio includes ethylene and propylene, collectively called olefins, downstream derivatives such as Polymers and Ethylene Oxide and Ethylene Glycol, and oleochemicals. The company’s gas-based plants have a total annual capacity of 2,888,000 tons of olefins, making it Thailand’s largest olefins producer and the second largest in all of Asia.
GE is a diversified global infrastructure, finance and media company that's built to meet essential world needs. GE Energy is one of the world’s leading suppliers of power generation and energy delivery technologies providing integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels.
Sunday, January 24, 2010
EEI all out in 2010 with energy management business, hoping to raise over 80 million baht
in revenue after joining forces with Burns and Roe Asia, leading engineering firm from the United States to bolster service capabilities
Mr. Arthit Vechakij Managing Director of Excellent Energy International Company Limited (EEI) disclosed that in the last 11 years, his company had proved to be a leading Energy Service Company (ESCO) in Thailand with recognition including ESCO Excellence Award 2009 from the Federation of Thai Industries (FTI) supported by Department of Alternative Energy Development and Efficiency (DEDE),Ministry of Energy. “Our clients also commended with several recognitions for their efficiency. These companies include Thai Yamaha Motor Co., Ltd., Grand China Princess Hotel, Dusit Princess Hotel in Korat and Royal Princess Hotel Chiang Mai as they are selected to be successful business operators using the ESCO system in 2009 (ESCO Project Award 2009). This is the 2nd year in a row for EEI to have its clients nominated for the award and receive privileges as well as support from the government sector. There are still several other projects that have made our company proud such as services provided to Thai Beverage, 4 new cogeneration power plants development for CPF, Energy Management System (EMS) for Pataya Food Industry, manufacturer of Nautilus canned tuna, whose confidence has resulted in repeat order. In addition, EEI is the consultant for Department of Industrial Promotion, making industrial and business operators having greater confidence in the company. Our latest move to strengthen our position is the cooperation with Burns and Roe Asia, leading integrated engineering company from the United States. The firm, which has already been accepted for expertise by several companies operating in Thailand, is considered a fresh development in Energy Service Company (ESCO) business in Thailand,” he said.
Mr. Arthit Vechakij said: “The cooperation between EEI and Burns and Roe Asia was a result of new opportunity seeking on the part EEI. Discussions were made with Burns and Roe Asia to allow the 2 companies to see good potential together in facilitating to the growing demands from larger size customers. Our services will help make Thai business operators confident and continue relying on ESCO in the future.”
“EEI believe in 2010 it can generate revenue of 80 million baht, which is higher than before by 15%. We predict to help the country save by as much as 200 million baht, as a result of new projects from CPF Group worth 450 million baht, which include 4 new cogeneration power plants that can save up to 117 million baht a year. Projects made in cooperation with Burns and Roe Asia, which is similar to what we have provided to Thai Oil will also help save around 80 million baht a year. Our clients who are business operators believe that investment in energy conservation measures will help them save energy and cost. The rising oil prices of over US$80 per barrel will compel business operators to seek to reduce energy expense in order to maintain costs and create competitive advantages especially in the long run. We are seeing good improvement this year as the government continues to support business operators to seek proper energy management,” he added.
Meanwhile, Mr. Ruamlarp Anantasanta, Deputy Managing Director – Marketing & Business
Development of Excellent Energy International Company Limited (EEI) added on the business direction of EEI in 2010, saying the company would focus its business on what it does best, which would be the Cogeneration Power Plants and Energy Management System (EMS), including the Development and Energy Efficiency Management services “For the past 11 years, Cogeneration Power Plants have been the proud projects of EEI, where success can be proven and accepted widely, from thesuccess of Thailand ESCO Pilot Project with BKP to 4 more Cogeneration Power Plants for CPF Group. We also plan to establish a Energy Management System (EMS) which is the real time monitoring system of power consumption behaviors and coordination among concerned personnel in each area to allow business operators to utilize energy with maximum efficiency to reduce energy costs.
“In the current economic situation, the low investment cost of 5-20 million baht and payback period of only 1-2 years have been our value proposition . This is why our clients trust in our Energy Management System (EMS). EEI is able to develop software suitable to each individual operation following its strong experience and skills in energy management business in Thailand to deliver to each business’s specific needs perfectly. Our service also complies to the recent Energy saving act 2007 with integrated line of services could not be found in other operators. EEI’s unique services include application for necessary approval as required by the laws and regulations, seeking funding support from commercial banks, finding funding sources that provide privileges (special interest rate) in case of energy saving scheme and seeking privileges from the government sector such as financial support, DSM bidding and BOI,” said Mr. Ruamlap.
Mr. Mark Hunt, Managing Director of Burns and Roe Asia, Ltd. stated that his company’s recent cooperation with EEI, a leading Energy Service Company (ESCO) and well trusted by leading Thai operators, is an advantageous and strategic partnership that will benefit both companies’ quality of service. “Burns and Roe Asia’s presence and capabilities will be enhanced by the new opportunities brought forth by EEI. Our joint success will be achieved through a combination of world class services and skills in energy project management in Thailand, while maintaining a beneficial cost structure. We expect to execute at least 1 to 2 energy projects this year with an investment cost of 200-500 million Thai Baht, which will generate savings for Thailand by as much as 100-200 million Thai Baht a year,” he said.
“Thailand’s economy is recovering and moving in a positive direction, and that has a direct impact on domestic energy consumption. According to the Ministry of Energy, at the end of 2009, the amount of energy consumption recorded was higher than that recorded at the same time in 2008. This increase in energy consumption provides evidence that Thailand’s demand for energy is steadily moving in an upwards direction. In addition, the government policy which encourages the use of domestic energy sources and alternative energy, and promotes energy savings initiatives have contributed positively to the country’s energy industry by attracting new investments and expanding existing businesses,” he added.
“Our latest cooperation with EEI will help facilitate the growing energy needs in Thailand and advance the Thai government policy regarding domestic energy management and energy saving campaign. The goal is to find long term energy sources and while curbing the causes of global warming, which will ultimately improve the quality of life in Thailand,” he explained.
Burns and Roe Asia, Ltd. was founded in 1932. The company, with over 1,700 employees worldwide, is specialized in engineering, design, and consulting services in the power generation industry. They provide technical expertise in fossil-fueled power plants, including coal and natural gas combined cycle, as well as in biomass, cogeneration, and nuclear power plants. Studies in advanced technologies and alternative fuel solutions are also offered. Current clients include the Electricity Generating Authority of Thailand (EGAT), Gulf JP, Advance Agro, and GDF Suez.
Mr. Arthit Vechakij Managing Director of Excellent Energy International Company Limited (EEI) disclosed that in the last 11 years, his company had proved to be a leading Energy Service Company (ESCO) in Thailand with recognition including ESCO Excellence Award 2009 from the Federation of Thai Industries (FTI) supported by Department of Alternative Energy Development and Efficiency (DEDE),Ministry of Energy. “Our clients also commended with several recognitions for their efficiency. These companies include Thai Yamaha Motor Co., Ltd., Grand China Princess Hotel, Dusit Princess Hotel in Korat and Royal Princess Hotel Chiang Mai as they are selected to be successful business operators using the ESCO system in 2009 (ESCO Project Award 2009). This is the 2nd year in a row for EEI to have its clients nominated for the award and receive privileges as well as support from the government sector. There are still several other projects that have made our company proud such as services provided to Thai Beverage, 4 new cogeneration power plants development for CPF, Energy Management System (EMS) for Pataya Food Industry, manufacturer of Nautilus canned tuna, whose confidence has resulted in repeat order. In addition, EEI is the consultant for Department of Industrial Promotion, making industrial and business operators having greater confidence in the company. Our latest move to strengthen our position is the cooperation with Burns and Roe Asia, leading integrated engineering company from the United States. The firm, which has already been accepted for expertise by several companies operating in Thailand, is considered a fresh development in Energy Service Company (ESCO) business in Thailand,” he said.
Mr. Arthit Vechakij said: “The cooperation between EEI and Burns and Roe Asia was a result of new opportunity seeking on the part EEI. Discussions were made with Burns and Roe Asia to allow the 2 companies to see good potential together in facilitating to the growing demands from larger size customers. Our services will help make Thai business operators confident and continue relying on ESCO in the future.”
“EEI believe in 2010 it can generate revenue of 80 million baht, which is higher than before by 15%. We predict to help the country save by as much as 200 million baht, as a result of new projects from CPF Group worth 450 million baht, which include 4 new cogeneration power plants that can save up to 117 million baht a year. Projects made in cooperation with Burns and Roe Asia, which is similar to what we have provided to Thai Oil will also help save around 80 million baht a year. Our clients who are business operators believe that investment in energy conservation measures will help them save energy and cost. The rising oil prices of over US$80 per barrel will compel business operators to seek to reduce energy expense in order to maintain costs and create competitive advantages especially in the long run. We are seeing good improvement this year as the government continues to support business operators to seek proper energy management,” he added.
Meanwhile, Mr. Ruamlarp Anantasanta, Deputy Managing Director – Marketing & Business
Development of Excellent Energy International Company Limited (EEI) added on the business direction of EEI in 2010, saying the company would focus its business on what it does best, which would be the Cogeneration Power Plants and Energy Management System (EMS), including the Development and Energy Efficiency Management services “For the past 11 years, Cogeneration Power Plants have been the proud projects of EEI, where success can be proven and accepted widely, from thesuccess of Thailand ESCO Pilot Project with BKP to 4 more Cogeneration Power Plants for CPF Group. We also plan to establish a Energy Management System (EMS) which is the real time monitoring system of power consumption behaviors and coordination among concerned personnel in each area to allow business operators to utilize energy with maximum efficiency to reduce energy costs.
“In the current economic situation, the low investment cost of 5-20 million baht and payback period of only 1-2 years have been our value proposition . This is why our clients trust in our Energy Management System (EMS). EEI is able to develop software suitable to each individual operation following its strong experience and skills in energy management business in Thailand to deliver to each business’s specific needs perfectly. Our service also complies to the recent Energy saving act 2007 with integrated line of services could not be found in other operators. EEI’s unique services include application for necessary approval as required by the laws and regulations, seeking funding support from commercial banks, finding funding sources that provide privileges (special interest rate) in case of energy saving scheme and seeking privileges from the government sector such as financial support, DSM bidding and BOI,” said Mr. Ruamlap.
Mr. Mark Hunt, Managing Director of Burns and Roe Asia, Ltd. stated that his company’s recent cooperation with EEI, a leading Energy Service Company (ESCO) and well trusted by leading Thai operators, is an advantageous and strategic partnership that will benefit both companies’ quality of service. “Burns and Roe Asia’s presence and capabilities will be enhanced by the new opportunities brought forth by EEI. Our joint success will be achieved through a combination of world class services and skills in energy project management in Thailand, while maintaining a beneficial cost structure. We expect to execute at least 1 to 2 energy projects this year with an investment cost of 200-500 million Thai Baht, which will generate savings for Thailand by as much as 100-200 million Thai Baht a year,” he said.
“Thailand’s economy is recovering and moving in a positive direction, and that has a direct impact on domestic energy consumption. According to the Ministry of Energy, at the end of 2009, the amount of energy consumption recorded was higher than that recorded at the same time in 2008. This increase in energy consumption provides evidence that Thailand’s demand for energy is steadily moving in an upwards direction. In addition, the government policy which encourages the use of domestic energy sources and alternative energy, and promotes energy savings initiatives have contributed positively to the country’s energy industry by attracting new investments and expanding existing businesses,” he added.
“Our latest cooperation with EEI will help facilitate the growing energy needs in Thailand and advance the Thai government policy regarding domestic energy management and energy saving campaign. The goal is to find long term energy sources and while curbing the causes of global warming, which will ultimately improve the quality of life in Thailand,” he explained.
Burns and Roe Asia, Ltd. was founded in 1932. The company, with over 1,700 employees worldwide, is specialized in engineering, design, and consulting services in the power generation industry. They provide technical expertise in fossil-fueled power plants, including coal and natural gas combined cycle, as well as in biomass, cogeneration, and nuclear power plants. Studies in advanced technologies and alternative fuel solutions are also offered. Current clients include the Electricity Generating Authority of Thailand (EGAT), Gulf JP, Advance Agro, and GDF Suez.
Wednesday, December 16, 2009
JDR Cable Systems to Provide Inter Array Cables for London Array Offshore Wind Farm
JDR Cable Systems, a global provider of subsea power cables, offshore
umbilical systems and specialised marine cables has been awarded the
contract for the supply of subsea power array cables for the first phase
of London Array Offshore Wind Farm by the project consortium of DONG
Energy, E.ON and Masdar.
The first phase of the development, consisting of 175 wind turbines and
2 offshore substations will be installed in water depths of up to 23
meters some 20km (12 miles) from the Kent and Essex coasts in the outer
Thames Estuary. The wind farm will be connected by subsea export cables
to an onshore substation at Cleve Hill, on the North Kent coast. From
the substation, the electricity will be fed into the existing 400kV
transmission network.
The scope awarded to JDR includes the engineering, design and
manufacture of over 200km of 33kV array cables complete with proprietary
hang-off and termination systems providing the essential link between
individual wind turbine generators, wind turbine generator arrays and
the offshore substations. The cables will be produced in 2010 and 2011.
“The London Array project team were very clear in their determination to
procure array cables that would provide the highest long-term
reliability available in the market. JDR’s dedication to the highest
levels of quality management and continuous improvement, developed over
many years of providing subsea power cables and umbilical systems for
deepwater oil & gas projects, is fully aligned with the needs of
offshore wind farm operators. We shall also be providing JDR’s
proprietary array cable termination systems, which have been
specifically designed to minimise offshore installation costs. We are
very pleased that JDR was selected as the array cable supplier and we
look forward to embarking on this world class project,” stated Patrick
Phelan, managing director of JDR Cable Systems Ltd.
When complete the first phase of London Array will be among the world’s
largest offshore wind farms, delivering up to 630MW. This is enough
power for approximately 470,000 homes and will make a substantial
contribution to the UK Government’s target of providing 15% of all
electricity supply from renewable sources by 2015.
“JDR has made significant investments over the last three years to
address the growing and vital renewable energy initiatives taking hold
in the UK and other parts of the world. Our plant in Hartlepool was
carefully chosen to be located in the heart of the UK offshore community
to best serve their ambitious projects yet optimally service all of
Northern Europe and other geographies around the world”, commented Pat
Herbert, group CEO, JDR Cable Systems (Holdings) Ltd.
Richard Rigg, the London Array Project Director stated that “London
Array Limited and its Shareholders are very pleased that JDR Cable
Systems have been successful in acquiring this scope of work and that
the project is supporting the new UK facilities developed by JDR at
Hartlepool to serve the offshore wind industry.”
About JDR Cable Systems
JDR is a leading provider of custom-designed and manufactured static and
dynamic subsea power cables, umbilical systems and marine cables for a
broad range of applications throughout the oil and gas sector, offshore
renewable energy industry, and seismic and defence markets.
JDR was featured in The Sunday Times Buyout Track 100 of the UK’s top
Private Equity-owned businesses. JDR ranked twelfth on the annual list
of 100 companies, and was the highest Original Equipment Manufacturer on
the list.
About the London Array Consortium
London Array Limited has three shareholders: E.ON, DONG Energy and
Masdar.
E.ON is one of the UK’s leading power and gas companies – generating and
distributing electricity, and retailing power and gas – and is part of
the E.ON group, the world’s largest investor-owned power and gas company.
DONG Energy is one of the leading energy groups in Northern Europe. We
are headquartered in Denmark. Our business is based on procuring,
producing, distributing and trading in energy and related products in
Northern Europe.
Masdar, wholly owned by the Mubadala Development Company (Mubadala), is
Abu Dhabi’s multi-faceted initiative in the development and
commercialization of renewable energy and sustainable technology.
umbilical systems and specialised marine cables has been awarded the
contract for the supply of subsea power array cables for the first phase
of London Array Offshore Wind Farm by the project consortium of DONG
Energy, E.ON and Masdar.
The first phase of the development, consisting of 175 wind turbines and
2 offshore substations will be installed in water depths of up to 23
meters some 20km (12 miles) from the Kent and Essex coasts in the outer
Thames Estuary. The wind farm will be connected by subsea export cables
to an onshore substation at Cleve Hill, on the North Kent coast. From
the substation, the electricity will be fed into the existing 400kV
transmission network.
The scope awarded to JDR includes the engineering, design and
manufacture of over 200km of 33kV array cables complete with proprietary
hang-off and termination systems providing the essential link between
individual wind turbine generators, wind turbine generator arrays and
the offshore substations. The cables will be produced in 2010 and 2011.
“The London Array project team were very clear in their determination to
procure array cables that would provide the highest long-term
reliability available in the market. JDR’s dedication to the highest
levels of quality management and continuous improvement, developed over
many years of providing subsea power cables and umbilical systems for
deepwater oil & gas projects, is fully aligned with the needs of
offshore wind farm operators. We shall also be providing JDR’s
proprietary array cable termination systems, which have been
specifically designed to minimise offshore installation costs. We are
very pleased that JDR was selected as the array cable supplier and we
look forward to embarking on this world class project,” stated Patrick
Phelan, managing director of JDR Cable Systems Ltd.
When complete the first phase of London Array will be among the world’s
largest offshore wind farms, delivering up to 630MW. This is enough
power for approximately 470,000 homes and will make a substantial
contribution to the UK Government’s target of providing 15% of all
electricity supply from renewable sources by 2015.
“JDR has made significant investments over the last three years to
address the growing and vital renewable energy initiatives taking hold
in the UK and other parts of the world. Our plant in Hartlepool was
carefully chosen to be located in the heart of the UK offshore community
to best serve their ambitious projects yet optimally service all of
Northern Europe and other geographies around the world”, commented Pat
Herbert, group CEO, JDR Cable Systems (Holdings) Ltd.
Richard Rigg, the London Array Project Director stated that “London
Array Limited and its Shareholders are very pleased that JDR Cable
Systems have been successful in acquiring this scope of work and that
the project is supporting the new UK facilities developed by JDR at
Hartlepool to serve the offshore wind industry.”
About JDR Cable Systems
JDR is a leading provider of custom-designed and manufactured static and
dynamic subsea power cables, umbilical systems and marine cables for a
broad range of applications throughout the oil and gas sector, offshore
renewable energy industry, and seismic and defence markets.
JDR was featured in The Sunday Times Buyout Track 100 of the UK’s top
Private Equity-owned businesses. JDR ranked twelfth on the annual list
of 100 companies, and was the highest Original Equipment Manufacturer on
the list.
About the London Array Consortium
London Array Limited has three shareholders: E.ON, DONG Energy and
Masdar.
E.ON is one of the UK’s leading power and gas companies – generating and
distributing electricity, and retailing power and gas – and is part of
the E.ON group, the world’s largest investor-owned power and gas company.
DONG Energy is one of the leading energy groups in Northern Europe. We
are headquartered in Denmark. Our business is based on procuring,
producing, distributing and trading in energy and related products in
Northern Europe.
Masdar, wholly owned by the Mubadala Development Company (Mubadala), is
Abu Dhabi’s multi-faceted initiative in the development and
commercialization of renewable energy and sustainable technology.
Tuesday, December 15, 2009
ETIHAD TO JOIN SUSTAINABLE AVIATION FUEL USERS GROUP
Etihad Airways has joined the Sustainable Aviation Fuel Users Group (SAFUG), an airline-led industry working group established in 2008 to accelerate the commercialisation and availability of sustainable biofuels.
James Hogan, Etihad Airways’ chief executive, said: ““Etihad recognises the need for step-changes in aviation to reduce our reliance on fossil fuels and meet our industry’s carbon reduction goal. We also recognise that any fuel alternatives must be morally, socially and environmentally acceptable, while not compromising the future sustainability of the aviation industry.”
SAFUG members are bound by stringent criteria for the development of non fossil fuels, including the following:
The development of plant sources must be undertaken in a manner that is non-competitive with food, with biodiversity impacts minimised and without jeopardizing drinking water supplies. The total lifecycle greenhouse gas emissions from plant growth, harvesting, processing and end-use should be significantly less than that from fossil sources. In developing economies, development projects should include provisions or outcomes that improve socio-economic conditions for small-scale farmers and their families and that do not require the involuntary displacement of local populations. High conservation value areas and native eco-systems should not be cleared and converted for jet fuel plant source development.
Each SAFUG member has pledged to work through the Roundtable for Sustainable Biofuels (RSB), a global multi-stakeholder initiative consisting of leading environmental organizations, financiers, biofuel developers, biofuel-interested petroleum companies, the transportation sector, developing-world poverty alleviation associations, research entities, and governments.
“Abu Dhabi, our home base, has itself made a strong commitment towards sustainability and in the promotion of renewable energy through the establishment of Masdar City, which will the headquarters of the International Renewable Energy Agency,” Mr Hogan said.
About Etihad Airways
Etihad Airways is the national airline of the United Arab Emirates based in the UAE’s capital, Abu Dhabi. Currently Etihad offers flights to over 55 destinations in the Middle East, Europe, North America, Africa and Asia.
James Hogan, Etihad Airways’ chief executive, said: ““Etihad recognises the need for step-changes in aviation to reduce our reliance on fossil fuels and meet our industry’s carbon reduction goal. We also recognise that any fuel alternatives must be morally, socially and environmentally acceptable, while not compromising the future sustainability of the aviation industry.”
SAFUG members are bound by stringent criteria for the development of non fossil fuels, including the following:
The development of plant sources must be undertaken in a manner that is non-competitive with food, with biodiversity impacts minimised and without jeopardizing drinking water supplies. The total lifecycle greenhouse gas emissions from plant growth, harvesting, processing and end-use should be significantly less than that from fossil sources. In developing economies, development projects should include provisions or outcomes that improve socio-economic conditions for small-scale farmers and their families and that do not require the involuntary displacement of local populations. High conservation value areas and native eco-systems should not be cleared and converted for jet fuel plant source development.
Each SAFUG member has pledged to work through the Roundtable for Sustainable Biofuels (RSB), a global multi-stakeholder initiative consisting of leading environmental organizations, financiers, biofuel developers, biofuel-interested petroleum companies, the transportation sector, developing-world poverty alleviation associations, research entities, and governments.
“Abu Dhabi, our home base, has itself made a strong commitment towards sustainability and in the promotion of renewable energy through the establishment of Masdar City, which will the headquarters of the International Renewable Energy Agency,” Mr Hogan said.
About Etihad Airways
Etihad Airways is the national airline of the United Arab Emirates based in the UAE’s capital, Abu Dhabi. Currently Etihad offers flights to over 55 destinations in the Middle East, Europe, North America, Africa and Asia.
Monday, December 7, 2009
POWER-GEN Asia and Renewable Energy World Asia 2009 Achieves Record-Breaking Attendance.
The Future of Thailand’s Power Market is Discussed in Multi-track Conference.
POWER-GEN Asia, co-located with Renewable Energy World Asia, shattered its past attendance record with nearly 7,000 power professionals attending the most successful event in its 17 year history. Held at IMPACT Exhibition and Conference Centre from 7th to 9th October, POWER-GEN Asia and Renewable Energy Asia saw the region’s power industry professionals gather to discuss the latest developments, issues and challenges related to the region’s power generation, transmission and distribution and renewable energy sectors.
The opening day of the event saw keynote speeches delivered by Sup. Lt. Dr. Prapas Limpabandhu, Vice Minister of Energy, Sutat Patmasiriwat, Deputy Governor – Generation of the Electricity Generating Authority of Thailand and Dong-Soo Suh, Executive Vice President Power Plant Business Group from Korean engineering giant Doosan Heavy Industries & Construction Co. Ltd., prior to the trio officially opened the exhibition floor in a traditional ribbon cutting ceremony.
Strengthening Energy Security for Sustained Economic Growth
“Strengthening Energy Security for Sustained Economic Growth” was the theme addressed by a line up of 120 leading international specialists from across the industry.
The POWER-GEN Asia and Renewable Energy World Asia conference programmes began the conference in perfectly appropriate style. POWER-GEN Asia’s opening speaker in the Country Spotlight session, former Minister of Energy, Dr. Pyasvasti Amranand, outlined the current and future developments of Thailand’s power market, whilst the opening presentation of Renewable Energy World Asia’s Policy & Scene Setting session was delivered by Dr. Twarath Sutabutr, Deputy General Director of Department of Alternative Energy Development and Efficiency, Ministry of Energy, discussing Thailand’s 15 year Renewable Development Plan and the future role of renewable energy in Thailand’s power generation industry.
Nigel Blackaby, Director of Conferences for PennWell’s International Power Group, said, “POWER-GEN Asia’s conference programme is an important platform for industry leaders to come together to exchange information, present new solutions and discuss future developments most critical to the growth of the market. The new Renewable Energy World Asia conference, dedicated to the renewable and sustainable energy, delivered an informative and technical programme of presentations, discussing the region’s issues and challenges in the renewable energy sector.”
“Conference sessions were extremely well attended, with professionals discussing the substantial issues surrounding power provision and how future demands can be met,” added Blackaby.
Busiest Ever Show Floor
The POWER-GEN Asia and Renewable Energy World Asia 2009 exhibition opened with an air of anticipation and excitement, as the world recession over this last year has seen most countries around the world reduce electricity consumption.
However, the event posted a record attendance with nearly 7,000 power industry professionals from over 65 countries converging on Bangkok for the region’s premier industry conference and exhibition - offering a hint of optimism of an upturn in the region’s economic prospects.
The record breaking number of exhibitors of over 170, were kept busy as streams of power industry professionals queued to gain access to the regions leading trade show.
Glenn Ensor, Event Director of POWER-GEN Asia and Renewable Energy World Asia, said, “To achieve a record attendance of nearly 7,000 registrations is extremely gratifying, particularly in the current economically uncertain times. We are delighted that a growing group of power industry professionals, throughout Asia and beyond, see POWER-GEN Asia and Renewable Energy World Asia as the meeting place for this industry.”
With the full support from the Ministry of Energy, Electricity Generating Authority of Thailand, Metropolitan Electricity Authority, Provincial Electricity Authority, Thailand Greenhouse Gas Management Organisation and the Thailand Exhibition & Convention Bureau, POWER-GEN Asia and Renewable Energy World Asia enjoyed three days of quality conference content and leading
exhibition.
POWER-GEN Asia and Renewable Energy World Asia moves to Singapore from 2nd – 4th November 2010 at the new Marina Bay Sands Resort. Further details and information on POWER-GEN Asia, www.powergenasia.com, and Renewable Energy World Asia, www.renewableenergyworld-asia.com.
Editors Notes: PennWell Corporation is a highly diversified, business-to-business media company providing authoritative print and online publications, conferences and exhibitions, research, databases, online exchanges and information products to strategic global markets.
Since 1910 PennWell has been known for providing comprehensive coverage of several strategic markets. In those early days, PennWell was a pioneer in the emerging oil industry with Oil & Gas Journal magazine, founded in 1902. Today PennWell publishes 45 business-to-business magazines and newsletters, conducts over 60 conferences and exhibitions on six continents, and has an extensive offering of books, maps, directories and database services.
POWER-GEN Asia, co-located with Renewable Energy World Asia, shattered its past attendance record with nearly 7,000 power professionals attending the most successful event in its 17 year history. Held at IMPACT Exhibition and Conference Centre from 7th to 9th October, POWER-GEN Asia and Renewable Energy Asia saw the region’s power industry professionals gather to discuss the latest developments, issues and challenges related to the region’s power generation, transmission and distribution and renewable energy sectors.
The opening day of the event saw keynote speeches delivered by Sup. Lt. Dr. Prapas Limpabandhu, Vice Minister of Energy, Sutat Patmasiriwat, Deputy Governor – Generation of the Electricity Generating Authority of Thailand and Dong-Soo Suh, Executive Vice President Power Plant Business Group from Korean engineering giant Doosan Heavy Industries & Construction Co. Ltd., prior to the trio officially opened the exhibition floor in a traditional ribbon cutting ceremony.
Strengthening Energy Security for Sustained Economic Growth
“Strengthening Energy Security for Sustained Economic Growth” was the theme addressed by a line up of 120 leading international specialists from across the industry.
The POWER-GEN Asia and Renewable Energy World Asia conference programmes began the conference in perfectly appropriate style. POWER-GEN Asia’s opening speaker in the Country Spotlight session, former Minister of Energy, Dr. Pyasvasti Amranand, outlined the current and future developments of Thailand’s power market, whilst the opening presentation of Renewable Energy World Asia’s Policy & Scene Setting session was delivered by Dr. Twarath Sutabutr, Deputy General Director of Department of Alternative Energy Development and Efficiency, Ministry of Energy, discussing Thailand’s 15 year Renewable Development Plan and the future role of renewable energy in Thailand’s power generation industry.
Nigel Blackaby, Director of Conferences for PennWell’s International Power Group, said, “POWER-GEN Asia’s conference programme is an important platform for industry leaders to come together to exchange information, present new solutions and discuss future developments most critical to the growth of the market. The new Renewable Energy World Asia conference, dedicated to the renewable and sustainable energy, delivered an informative and technical programme of presentations, discussing the region’s issues and challenges in the renewable energy sector.”
“Conference sessions were extremely well attended, with professionals discussing the substantial issues surrounding power provision and how future demands can be met,” added Blackaby.
Busiest Ever Show Floor
The POWER-GEN Asia and Renewable Energy World Asia 2009 exhibition opened with an air of anticipation and excitement, as the world recession over this last year has seen most countries around the world reduce electricity consumption.
However, the event posted a record attendance with nearly 7,000 power industry professionals from over 65 countries converging on Bangkok for the region’s premier industry conference and exhibition - offering a hint of optimism of an upturn in the region’s economic prospects.
The record breaking number of exhibitors of over 170, were kept busy as streams of power industry professionals queued to gain access to the regions leading trade show.
Glenn Ensor, Event Director of POWER-GEN Asia and Renewable Energy World Asia, said, “To achieve a record attendance of nearly 7,000 registrations is extremely gratifying, particularly in the current economically uncertain times. We are delighted that a growing group of power industry professionals, throughout Asia and beyond, see POWER-GEN Asia and Renewable Energy World Asia as the meeting place for this industry.”
With the full support from the Ministry of Energy, Electricity Generating Authority of Thailand, Metropolitan Electricity Authority, Provincial Electricity Authority, Thailand Greenhouse Gas Management Organisation and the Thailand Exhibition & Convention Bureau, POWER-GEN Asia and Renewable Energy World Asia enjoyed three days of quality conference content and leading
exhibition.
POWER-GEN Asia and Renewable Energy World Asia moves to Singapore from 2nd – 4th November 2010 at the new Marina Bay Sands Resort. Further details and information on POWER-GEN Asia, www.powergenasia.com, and Renewable Energy World Asia, www.renewableenergyworld-asia.com.
Editors Notes: PennWell Corporation is a highly diversified, business-to-business media company providing authoritative print and online publications, conferences and exhibitions, research, databases, online exchanges and information products to strategic global markets.
Since 1910 PennWell has been known for providing comprehensive coverage of several strategic markets. In those early days, PennWell was a pioneer in the emerging oil industry with Oil & Gas Journal magazine, founded in 1902. Today PennWell publishes 45 business-to-business magazines and newsletters, conducts over 60 conferences and exhibitions on six continents, and has an extensive offering of books, maps, directories and database services.
Ratchaburi Holding Announces 5.5 Billion Baht of Operating Performance
To be armed for business expansion in renewable energy and foreign investment
Ratchaburi Electricity Generating Holding PCL. announces its 9-month operating performance of 2009. The Company recorded net profit at 5,556.60 million Baht or 3.83 Baht per share, which is an increase of 10.14% from the same period of last year. It is also getting ready for restructuring its business structure to arm the Company’s expansion.
Mr. Thawat Vimolsarawong, Senior Executive Vice President-Business Development, said the Company is prompt for its business expansion by preparing restructuring its investment arms to serve the future business direction. According to the business plan in domestic investment, the Company aims to increase its total capacity in renewable energy project to 100 MWs by 2016. Recently, the Company has increased the registered capital for its subsidiary named Ratchaburi Energy Company Limited to support investment in SPP and VSPP projects corresponding to the country’s power demand and the government’s policy on the promotion of renewable energy. Moreover, the Company is seeking to explore new potential projects in power sectors and other related businesses. Currently, RH International Corporation Limited has been established as an investment arm to support the Company’s business expansion in power generation across South East Asia region and Australia. Therefore, the wholly-own RH International Corporation Limited by Ratchaburi Holding with 5 million Baht in registered capital would facilitate to an efficient investment management for the Company.
For 9-Month operating performance of 2009, the Company gained 28,448.98 million Baht in total revenue, consisting of 26,854.91 million Baht from electricity sales and operating and maintenance revenues, 207.07 million Baht from interest income, 101.29 million Baht from management service fee,168.09 million Baht from other incomes and 1,117.62 million Baht from the Company’s shared profit in its joint ventures. Whereas the Company’s cost of sales and other expenses were 21,347.78 million Baht, consisting of 20,856.27 million Baht in cost of sales, 491.51 million Baht in administration expenses. Meanwhile, the Company’s interest expense was 680.96 million Baht. Nevertheless, the Company committed to pay 863.64 million Baht in income tax which is an increase of 800.14 million Baht compared with the same period of last year.
Mrs. Darunee Abhinoraseth, Senior Executive Vice President-Finance mentioned to the 9-Month Operating Performance of 2009 that the Company recorded net profit at 5,556.60 million Baht, which was 511.59 million Baht or 10.14% higher compared with the same period of the previous year. This resulted from the cost of sales and other expenses of 21,347.78 million Baht which decreased by 6,205.32 million Baht or 22.52% from the previous year.
Furthermore, the interest expense in 2009 was minimized by 30.04% compared with the same period of last year because of the lower interest rate and the principle repayment in every quarter. Also, the Company recorded 26,854.91 million Baht in sales and service revenue which decreased by 5,543.03 million baht or 17.11% compared with the same period of 2008 and 1,117.62 million Baht in shared profit in its joint ventures increased by 337.74 million Baht or 43.31% from the same period of last year which mainly received from the profit sharing from Tri Energy and Ratchaburi Power.
Regarding to the Q3/2009 operating performance, the Company recorded net profit at 1,656.74 million Baht decreased by 418.70 million Baht or 20.17% compared with the same period of 2008. This was mainly resulted from 10,265.44 million Baht in sales revenue decreased by 836.27 million Baht or 7.56% of the same period of last year. Moreover, the company’s income tax was increased at 284.49 million Baht compared with the same period of last year which was due to the expiration of the BOI’s tax exempt since October 2008.
Company’s Information
Established in March 2000, Ratchaburi Electricity Generating Holding PCL is a leading independent power producer in Thailand with 4,347.37 MW in total installed capacity deriving from its investment in many power plant projects both domestics and foreign. The Company’s capacity portion by equity own in domestic projects are as follows: The current commercial operating plants are located in Ratchaburi province consisted of a 3,645-MW Ratchaburi’s Power Plant, a 350-MW Tri Energy’s Power Plant, a 350-MW Ratchaburi Power’s Power Plant. And there is a 1.75-MW power generating from associated gas, Pratu Thao Power Plant in Sukhothai province, which the Company currently invests in the expansion of 0.875 MW-Pratu Thao Power Plant. The investment projects under development are consisted of a 153.75-MW Nam Ngum 2’s Hydro Power Plant, a 110-MW Nam Ngum 3’s Hydro Power Plant, a 93-MW Xe-Pian Xe-Namnoy’s Hydro Power Plant and a 751-MW Hongsa’s Power Plant in Lao PDR. For renewable energy development, the Company invests in Wind Power Project in Phetchabun with capacity proportion of 18 MW. The Company aims to achieve the total installed capacity of 5,479 MWs from its investment and developing projects.
Ratchaburi Electricity Generating Holding PCL. announces its 9-month operating performance of 2009. The Company recorded net profit at 5,556.60 million Baht or 3.83 Baht per share, which is an increase of 10.14% from the same period of last year. It is also getting ready for restructuring its business structure to arm the Company’s expansion.
Mr. Thawat Vimolsarawong, Senior Executive Vice President-Business Development, said the Company is prompt for its business expansion by preparing restructuring its investment arms to serve the future business direction. According to the business plan in domestic investment, the Company aims to increase its total capacity in renewable energy project to 100 MWs by 2016. Recently, the Company has increased the registered capital for its subsidiary named Ratchaburi Energy Company Limited to support investment in SPP and VSPP projects corresponding to the country’s power demand and the government’s policy on the promotion of renewable energy. Moreover, the Company is seeking to explore new potential projects in power sectors and other related businesses. Currently, RH International Corporation Limited has been established as an investment arm to support the Company’s business expansion in power generation across South East Asia region and Australia. Therefore, the wholly-own RH International Corporation Limited by Ratchaburi Holding with 5 million Baht in registered capital would facilitate to an efficient investment management for the Company.
For 9-Month operating performance of 2009, the Company gained 28,448.98 million Baht in total revenue, consisting of 26,854.91 million Baht from electricity sales and operating and maintenance revenues, 207.07 million Baht from interest income, 101.29 million Baht from management service fee,168.09 million Baht from other incomes and 1,117.62 million Baht from the Company’s shared profit in its joint ventures. Whereas the Company’s cost of sales and other expenses were 21,347.78 million Baht, consisting of 20,856.27 million Baht in cost of sales, 491.51 million Baht in administration expenses. Meanwhile, the Company’s interest expense was 680.96 million Baht. Nevertheless, the Company committed to pay 863.64 million Baht in income tax which is an increase of 800.14 million Baht compared with the same period of last year.
Mrs. Darunee Abhinoraseth, Senior Executive Vice President-Finance mentioned to the 9-Month Operating Performance of 2009 that the Company recorded net profit at 5,556.60 million Baht, which was 511.59 million Baht or 10.14% higher compared with the same period of the previous year. This resulted from the cost of sales and other expenses of 21,347.78 million Baht which decreased by 6,205.32 million Baht or 22.52% from the previous year.
Furthermore, the interest expense in 2009 was minimized by 30.04% compared with the same period of last year because of the lower interest rate and the principle repayment in every quarter. Also, the Company recorded 26,854.91 million Baht in sales and service revenue which decreased by 5,543.03 million baht or 17.11% compared with the same period of 2008 and 1,117.62 million Baht in shared profit in its joint ventures increased by 337.74 million Baht or 43.31% from the same period of last year which mainly received from the profit sharing from Tri Energy and Ratchaburi Power.
Regarding to the Q3/2009 operating performance, the Company recorded net profit at 1,656.74 million Baht decreased by 418.70 million Baht or 20.17% compared with the same period of 2008. This was mainly resulted from 10,265.44 million Baht in sales revenue decreased by 836.27 million Baht or 7.56% of the same period of last year. Moreover, the company’s income tax was increased at 284.49 million Baht compared with the same period of last year which was due to the expiration of the BOI’s tax exempt since October 2008.
Company’s Information
Established in March 2000, Ratchaburi Electricity Generating Holding PCL is a leading independent power producer in Thailand with 4,347.37 MW in total installed capacity deriving from its investment in many power plant projects both domestics and foreign. The Company’s capacity portion by equity own in domestic projects are as follows: The current commercial operating plants are located in Ratchaburi province consisted of a 3,645-MW Ratchaburi’s Power Plant, a 350-MW Tri Energy’s Power Plant, a 350-MW Ratchaburi Power’s Power Plant. And there is a 1.75-MW power generating from associated gas, Pratu Thao Power Plant in Sukhothai province, which the Company currently invests in the expansion of 0.875 MW-Pratu Thao Power Plant. The investment projects under development are consisted of a 153.75-MW Nam Ngum 2’s Hydro Power Plant, a 110-MW Nam Ngum 3’s Hydro Power Plant, a 93-MW Xe-Pian Xe-Namnoy’s Hydro Power Plant and a 751-MW Hongsa’s Power Plant in Lao PDR. For renewable energy development, the Company invests in Wind Power Project in Phetchabun with capacity proportion of 18 MW. The Company aims to achieve the total installed capacity of 5,479 MWs from its investment and developing projects.
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