Thailand: Superblock arm to acquire five solar energy firms

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Solar Farm. Image from www.thailandindustry.com

Super Solar Energy Co, a wholly-owned subsidiary of Superblock PCL, is acquiring five solar-cell power producers with a combined investment of up to 14 billion baht ($396 million), according to its report to the Stock Exchange of Thailand.

The five companies include Power Technology International Co Ltd (PTI), Energy Serve Co Ltd (ESERVE), Infinite Alternative Energy Co Ltd (IAE), AMANUVE Co Ltd (AMN), and Sri Naga Power Co Ltd (SNP).

Total electricity production capacity of these five companies is 290.05 megawatts (MW), Jormsup Lochaya, Chairman of Superblock’s Board, stated in the report.

Information sourced from the company
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“These acquisitions are in line with our policy to promote the solar power production. We believe that this will enhance our competitiveness and profitability in the long run,” he said.

The company has heavily invested this year to boost its solar power capacity in Thailand and abroad to 500 MW this year.

In June, it signed a memorandum of understanding with Japan’s Energy Complex to build a 300 MW solar power plant in Japan with an estimated investment of 27 billion baht ($764.3 million).

Two months later, it acquired four solar cell projects in Thailand with total capacity of 17.40 MW.

However, for the latest acquisitions, it will propose to the shareholders for approval at a meeting on October 30.

 

Source: http://www.dealstreetasia.com/stories/thailand-superblock-to-acquire-five-solar-energy-producers-15901/