SOLAR forms JV for Tesco project; WAVE to exit energy unit

Construction News

Thailand-based Solartron Pcl has formed a joint venture with Thai Polycons after it won the bid for a solar rooftop project from Tesco in Thailand. Meanwhile, Wave Entertainment Pcl is looking to exit Thai Solar Energy.

SOLAR in JV for Tesco project

Thai-listed Solartron Pcl (SOLAR) has formed a joint venture with Thai Polycons Pcl to run Tesco Thailand’s rooftop solar project after it won the 419.5 million baht bid.

The JV will install solar panel on 13 buildings of Tesco Lotus in Thailand. Then, it will join the company’s upcoming bidding as Tesco Lotus has planned to install solar rooftop for more than 200 buildings nationwide.

Solartron president Pattama Vongtuaythong said, it was staging the roadshow domestically and internationally to restore the investors’ confidence after two major shareholders disposed their shares in the company.

“We currently have institutions holding only 5 per cent. Hence, we staged the roadshow to attract institutions with long-term investment vision,” she said.

SOLAR plans to make a net profit this year after it recorded the net loss of 60 million in 2015. Meanwhile, the revenue is targeted to surge from 696 million baht in 2015 to 1.6 billion baht in 2016.

WAVE to consider sale of Thai Solar Energy

Thailand’s listed lifestyle and event organising firm Wave Entertainment Pcl is considering disposing off its entire 20 per cent stake in Thai Solar Energy Pcl (TSE) if it gets an attractive offer.

“We’ve got a plenty of offers from either foreign alternative energy-related funds or local funds. However, the price can’t be agreed yet. TSE’s business is related to renewable energy which has potential to grow aggressively in the future,” WAVE’s chief executive Matthew Kichodhan said.

He said, the company was negotiating to acquire or make a joint venture with food and educational companies in the domestic and overseas markets. “If we can close the deals, our revenue will rise to 8 billion baht in the next two years,” he said. WAVE targets to boost revenue from 2.28 billion baht last year to 3.6 billion baht in 2016.