BCPG to Expand Its Renewable Energy Base in Thailand with Wind Power Business in the South
Committed to expanding its renewable energy businesses both domestically and internationally, BCPG Public Company Limited recently acquired 100% shares of Lom Ligor Co.,Ltd., with 10 MW production capacity of wind power in Nakhon Si Thammarat province in southern Thailand.
Mr. Bundit Sapianchai, BCPG President and CEO, said that on 15 June 2018, the Company purchased the entire equity of Lom Ligor Co.,Ltd., an operator of 10-MW wind power project located in Pak Panang, Nakhon Si Thammarat province with the total investment including share acquisition and construction of not exceeding 825 million Baht. The project is now under development and is expected to start commercial operations by the end of 2018.
The acquisition was in line with BCPG’s commitment in seeking expansion into other technologies of renewable energy in Thailand, in addition to the solar energy business. This was the first time that the Company invested in wind energy business in Thailand following investment in PetroWind Energy Inc. (PWEI), an operator of 50-MW wind power project in the Philippines, in Q2/2017.
“I’m positive that the investment in this project will generate satisfactory returns, with electricity sales at approximately 7 Baht per unit (3.50 Baht adder per unit) for 10 years. While this is a good opportunity for BCPG to expand our renewable energy base in Thailand, it is also a great way to enhance our employees’ expertise in wind power business. Electricity produced from the Lom Ligor project in Pak Panang, Nakhon Si Thammarat province, a location with frequent and sustained winds, will help respond to the increasing electricity demand in Southern Thailand. This investment has been conducted taking into account all stakeholders, returns to shareholders, community care, ecosystem and environment, in line with the Company's sustainable development policy. In addition to business expansion in renewable power plants, the Company is now entering retail business using blockchain technology to enable the peer-to-peer renewable energy trading of the electricity generated from solar rooftops, providing consumers with more access to renewable energy, for long term and sustainable growth for the company”, said Mr. Bundit.
Dr. Sumet Suthapakdi, the previous developer of the project, said that “Thanks to BCPG who will take the Ligor Project further from now on. I'm sure that BCPG, as a leader in renewable energy business in Southeast Asia who has been recognized internationally for business performance, corporate governance and solid financial position, will be able to successfully develop the Ligor Project for commercial operation with maximum efficiency.”