* Outout from Nam Theun 2 not enough to boost revenue

* 2011 revenue still weak if no new power plants

* Expects to conclude plans to buy foreign assets in Aug (Adds details throughout)

By Pisit Changplayngam

BANGKOK, July 14 (Reuters) - Thailand's second-largest private power producer, Electricity Generating Pcl (EGCO.BK: Quote) (EGCO), expects 2010 net profit and revenue to be lower than 2009 due to falling revenue from power sales.

The company's 2011 revenue should continue to be weak if EGCO has no new power plants, President Vinit Tangnoi told reporters on Wednesday, without giving specific earnings forecasts.

Despite output from the 1,086-MW hydro power plant Nam Theun 2 in Laos, which began a commercial run in April, it was not enough to help boost revenue this year, Vinit said.

"Revenue and profit this year should drop from a year earlier," Vinit said.

Twelve analysts polled by Thomson Reuters I/B/E/S forecast an average 2010 net profit of 6.6 billion baht ($204 million), down 16 percent from 2009. Revenue is expected to fall 6 percent this year.

EGCO owns a 25 percent stake in the Nam Theun 2 project and plans to buy an additional 10-15 percent from construction firm Italian-Thai Development Pcl (ITD.BK: Quote), which is expected to be concluded by the third quarter of this year, he said.

The plan would depend on whether French electricity group EDF (EDF.PA: Quote), which holds a 35 percent stake in Nam Theun 2, wants to raise its holding, Vinit said.

With the 25 percent stake, EGCO should realise electricity sales of about 500 million baht ($15.5 million) a year from Nam Theun 2. If it could raise its holding with a further 10 percent, it should book about 600-700 million baht in revenue, he added.

Facing limited growth at home, EGCO is looking for opportunities to buy stakes of power plants overseas and it expects to conclude about 2-3 deals by August, Vinit said.

EGCO has interests in 14 power plants in Thailand, Laos and the Philippines with a combined capacity of about 4,277 MW, accounting for about 12 percent of Thailand's generating capacity.

As part of plan to invest in renewable energy projects, EGCO joined with Japan's Mitsubishi Corp (8058.T: Quote) and Hong Kong-based CLP Holdings Ltd (0002.HK: Quote) to build a 73-megawatt solar power plant in Lopburi province, one of the world's largest solar energy projects.

The construction of the $250 power plant would begin in the third quarter and be completed by November 2012, with the first phase of 8-MW power coming on stream in June 2011, Vinit said.

Source: http://af.reuters.com/article/energyOilNews/idAFSGE66D08D20100714?pageNumber=2&virtualBrandChannel=0&sp=true