Superblock to acquire five solar companies in Thailand

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Superblock to acquire five solar companies in Thailand

According to a filing on the Thailand Stock Exchange, Super Solar Energy Group, a wholly-owned subsidiary of Thai utility Superblock, will acquire five solar energy companies in a transaction worth a total 14 billion baht (US$396 million).

The five project companies have a combined capacity of 290MW of electricity generation.

The five companies are the following:

  • Power Technology International (PTI) – 55.6MW
  • Energy Serve (ESERVE) – 81.45MW
  • Infinite Alternative Energy (IAE) – 87MW
  • Amanuve (AMN) – 30MW
  • Sri Naga Power (SNP) – 36MW

In the filing, Jormsup Lochaya, Superblock chairman of the board, said:

“The company has a policy to invest in business expansion and production of electricity from renewable energy. In particular solar – the company plans to expand this side constantly.”

In June, Superblock had announced plans to invest 30 billion baht this year to expand its solar energy business. The company also set a 500MW target for commercial operation of solar capacity this year.

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