The EGAT Power Purchase Agreement (or “EGAT PPA”) was signed between NTPC and EGAT on November 8, 2003 . It is a key contract for the Project under which NTPC shall make available generating capacity of up to 995 MW and electrical energy of 5,636 GWh per year to EGAT to be purchased at an agreed tariff on a take-or-pay basis. The EGAT PPA is for a period of 25 years from the date of Commercial Operations and includes provisions detailing the rights and obligations of both EGAT and NTPC, including the performance obligations of EGAT and NTPC, EGAT and NTPC Events of Default, Force Major Events and Termination.

EGAT is a state-owned juristic entity established in 1969 under the EGAT Act, B.E. 2511 responsible for the generation and transmission of electrical energy in Thailand . EGAT is the largest electrical generator in Thailand , accounting for over 56% of generating capacity. Whilst the obligations of EGAT are not explicitly guaranteed by the Government of Thailand, the EGAT Act provides for financial support from the Government of Thailand in the event that EGAT is unable to meet its debt obligations. In late 2003, Standard & Poor's raised its long-term local and foreign currency ratings on EGAT to A- and BBB from BBB+ and BBB- respectively. EGAT has historically honoured in full all of its commitments to take or pay for electrical energy for the other hydroelectric power projects in Lao PDR as well as the commissioned Thai IPPs.

PPA Summary (PDF file ~750KB)