SINGAPORE (Dow Jones) —  “The negotiations of the draft (agreement)
have been concluded and settled by both parties,” EGAT’s deputy
governor for policy and planning, M.L. Chanaphun Kridakorn said. “The
attorney general is considering the agreement, after which it will be
submitted to the National Energy Policy Commission (for approval),” he
said. The signing of the power purchase agreement between EGAT and Nam
Theun 2 Power Co. was originally scheduled to be signed in June 2002,
but was delayed due to several sticking points. EGAT had declined to
elaborate on what those issues were. The Nam Theun 2 consortium is led
by Electricite de France (F.EDF), which has a 35% stake in the US$1.2
billion hydroelectric power project. The Laotian government holds a 25%
stake and Italian-Thai Development PCL (H.ITD) owns a 15% stake.
Thailand’s Electricity Generating PCL (H.EGA) holds the remaining 25%
stake. The Nam Theun 2 project will have a total capacity of 1,070
megawatts, of which 920 MW will be sold to EGAT and the balance
supplied to Laos. In October 2002, Nam Theun 2 Power signed a
concession agreement with the Laotian government to develop the Nam
Theun 2 project under a build-own-operate-transfer basis.