SET-listed Super Energy Corporation (Super) is in the process of acquiring a 57.5% stake in Keyman Wind Power Company (KWP), the developer of the HBF1 wind energy farm project, for 891.25 million baht as it continues its expansion in the power business.
The share purchase, which followed recent approval by the Super board, will be made through its wholly-owned Super Wind Energy Co (SWE) with two shareholders of KWP, said Jormsup Lochaya, chief executive of Super.
SWE intends to invest in the HBF1 project through the acquisition of shares in KWP.
The HBF1 project is located in parts of national forest reserves — Dong Kasang and Lam Phaya forests — in Nakhon Ratchasima’s Dan Khun Thot district.
The new wind farm, which is slated for development on 46 rai of land in Dong Kasang and 240 rai in Lam Phaya, was granted permission for land use in the two forests until 2035 and 2036, respectively.
KWP also holds a 99.98% stake in Global Green Energy Co (GGE), said Mr Jormsup.
GGE is an electricity supplier under the small power producer scheme, using wind energy for the HBF1 project, with electricity generation capacity of 45 megawatts.
GGE is waiting for the Electricity Generating Authority of Thailand to sign a power purchase agreement with the company.
Super is the developer of five on-shore and off-shore wind farms through SWE in Vietnam. The facilities have a total capacity of 471MW.
Last month Super acquired a 50.9% share in Power Technology International (PTI) through its subsidiary Super Solar Energy Co for 760 million baht.
PTI is an operator of nine on-ground solar farms, with combined capacity of 55.6MW. It has supplied electricity to the grid network of the Provincial Electricity Authority since 2016.