The project, located in the Nong Saeng district, 120 kilometers north of Bangkok, is expected to cost a total of $1.6 billion. Gulf JP, which is 90-percent owned by Japanese power supplier Electric Power Development Co. Ltd., will develop, own, and operate the plant, which is expected to come online in 2014.
Gulf JP has a 25-year contract to supply power to the state-owned Electricity Generating Authority of Thailand.
Baker & McKenzie advised Gulf JP. Singapore project finance partners James Huang and Chew Chin led the firm’s team, which also included banking and finance partners Komkrit Kietduriyakul and Viroj Piyawattanametha in Bangkok.
Allen & Overy Tokyo partner Adam Moncrieff and Bangkok partner Stephen Jaggs represented lenders which comprised five international and domestic Thai banks–Asian Development Bank, Japan Bank for International Cooperation, Mizuho Corporate Bank Ltd., Kasikornbank Public Co. Ltd., and The Siam Commercial Bank Public Co.