EDF set to tap Thailand for Asian growth
Bangkok Post, May 2, 2003
High potential seen in Mekong region
By: Nareerat Wiriyapong
The EDF Group, formerly known as Electricite de France, says its new regional headquarters in Thailand will give it greater opportunities to take advantage of the future integration of the power market for countries in the Greater Mekong Subregion (GMS).
The French state-owned utility plans to use its Thai subsidiary, EDF Southeast Asia, as a driving force to become one of the region's major independent power producers, holding roughly 10% of the market by the end of the decade.
"We believe the Greater Mekong Sub-region will move ahead quickly to become the biggest integrated market in the region with energy, gas and electricity interconnection," said Jean Pierre Serusclat, president of EDF Southeast Asia.
The GMS consists of countries located on the Mekong River : Vietnam , Thailand , Laos , Cambodia Serusclat and Burma as well as Yunnan province in southern China .
"Political willingness will foster integration in the long run to optimize the use of energy resources. And we have a long-term strategy to be a part of the integration," he said.
Established last September with all of the equity owned by the EDF group, the Bangkok-based regional headquarters oversees operations of the French company in 10 Asean countries, East Asia , Japan and Korea . EDF previously had its regional headquarters in Singapore .
Mr. Serusclat said Asia 's annual electricity demand ranged from 4-6% per year, at least three times higher than in Europe and the United States .
With 121 Gigawatts of installed capacity globally, EDF is one of the largest power generators in the world. However, power sold in the fast-growing Asian electricity market is only 1% of that amount. Roughly 90% of the group's sales of 48.4 billion euros (2.27 trillion baht) come from European markets.
EDF is now involved in two power projects in the GMS. It entered into a partnership with Sumitomo to take a 56% stake in Vietnam 's 700-megawatt Phumy power plant, due to begin operations at the end of next year.
It also controls the biggest share, 35% in a consortium with Electricity Generating Co and Italian Thai Development to develop with Electricite de Laos the $1-billion Nam Thuen II project. The state-owned power utility of Laos owns 25% in the consortium.
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