Bangkok--21 Jul--Glow Energy Glow Energy Plc. (Glow) recently signed USD 302 mn contracts with a consortium of Marubeni and Black&Veatch for equipment supply and construction of its 382 MWe gas-fired cogeneration power plant in Map Ta Phut. Following this, the Company has issued to Marubeni and Black & Veatch the Notice to Proceed to start the construction of Glow's single biggest expansion in the Cogeneration business together with making the down payments of USD 45 million. The project will sell mainly electricity and steam to large petrochemical customers. The supply of reliable electricity and steam to the industrial customers will in turn contribute to the "Third Wave" petrochemical expansion. The EIA approval for this 382 MWe gas-fired cogeneration expansion was received on 23 June 2008. Meanwhile today, in addition to a 74 MW SPP contract with EGAT granted as part of the latest SPP bidding, Glow has already secured another 190 MWe of sales with its large petrochemical customers. Glow is confident of signing the remaining capacity within the next 6-12 months. The new cogeneration capacity is expected to begin full Commercial Operation within Q3 2011. Total capex for this expansion is around USD 500 million including investments in power and steam distribution systems. The project will be financed by Glow's operating cashflows and from the corporate debt that the Company will raise during the 3-yr construction period. The EPC contract with Marubeni represents the main portion of the total capex. Mr. Peter Termote said that "This 382 MWe cogeneration expansion along with the new 660 MW IPP and the 115 MW CFB 3 expansions, which is currently under construction, will mark a new investment era for Glow. Over the coming three years, Glow will be investing more than USD 1,800 mn (or about THB 60,000 mn) in value creating growth. As a result, Glow will increase its production capacity by more than 50% from today." About Glow Energy Glow Energy is a member of the Glow Group, which is a major energy player in Thailand. Glow Group's combined installed capacities include 1,708 MW of electricity and 967 tons per hour of steam. 115 MW is under construction. Glow was recently awarded a 74 MW SPP contract to supply EGAT at the end 2011. Glow intends to add 350-400 MW equivalent by 2011 to meet the rising demand from the third petrochemical development phase in Thailand. In addition to this, Glow and its partner Hemaraj was awarded a 660 MW coal-fired IPP contract through its 65% affiliate GHECO. Glow Group generates and supplies electricity to Electricity Generating Authority of Thailand (EGAT) under Thailand's SPP (Small Power Producer) and IPP (Independent Power Producer) programs, as well as electricity, steam, industrial water and services to a group of about 40 large industrial customers, principally located in the Map Ta Phut petrochemical complex. SUEZ Energy International is Glow Energy's major shareholder and is a business division of the SUEZ group, one of the largest international industrial and services groups in the world. For more information about SUEZ or SUEZ Energy International, please visit the companies' websites at www.suez.com and www.suezenergyint.com. For more information about the Glow Group please go to www.glow.co.th For further details please contact Suthiwong Kongsiri Glow Energy Plc. Tel. 02-670-1500-1 Email [email protected]