shareholding 25.01% and 74.99% respectively, achieved COD on November 1, 2017. Gulf TS3 Power Plant had a contracted power capacity of 125 MW and a contracted steam capacity of 25 Ton/hour located in Hemaraj

electricity to Industrial Users (IU) 1.1 1.6 (0.5) (31.3) Sales of steam (IU) 2.5 4.9 (2.4) (49.0) Sales from Natural Gas Power Plant 422.3 470.8 (48.5) (10.3) Sales of electricity - FiT, Base tariff and Ft

) (9.1%) Sales of steam (IU) 2.5 1.4 (1.1) (44.0%) Sales from Natural Gas Power Plant 422.3 668.6 246.3 58.3% Sales of electricity - FiT, base tariff and Ft 70.1 68.1 (2.0) (2.9%) FiT Premium 6.0 6.0

of steam output. The project is extendable for up to an additional every 2 years. Construction works of the project was completed and its operation started on July 20, 2017. 1.1.2 Progress of

the effective capacity for power generation in the power plants which have already commenced commercial operation, separated into electricity generation of approximately 1,530 MW, steam of approximately

1"" 10 J0% non-progressive rate 4. large exposure risk 4 1 "'(0 $ R )' #). (#%I#0# 4 E3K$1. (#%I#0# 4!4 .&. .&.+#-! .&. (#%I#0# 4 3' J00' % /0."). 3 1 .. 54 60 " 10 : ' # Large exposure risk

along with 13 tonnes per hour of steam output. The project is extendable for up to an additional every 2 years. Construction works of the project was completed and its operation started on July 20, 2017

, Ratchaburi Province, has approximately 100 megawatts electricity generating capacity and steam generating capacity of 15 tons per hour. It The Project has 25-year Firm Cogeneration PPA with Electricity

35 percent. Management Discussion and Analysis For the Year Ended December 31, 2017 Page 4 Berkprai Cogeneration SPP Project has approximately 100 megawatts electricity generating capacity and steam

363.4 413.9 (50.5) (12.2) Sales of electricity to Industrial Users (IU) 1.6 2.3 (0.7) (30.4) Sales of steam (IU) 4.9 4.1 0.8 19.5 Total sales from Natural Gas Power Plant 470.8 522.6 (51.8) (9.9) Sales of