SSP Gives Green Light to 9.9 MW Biomass Power Plant Deal at an Investment Value of 500 Million Baht.
Shareholders of SSP give a green light for the approval of 500 million Baht to buy shares in Nakhon Ratchasima 9.9 MW Biomass Power Plant with confidence that it will yield a good return with an internal rate of return (IRR) expected to be 10%, while in the second half of the year, the 20 MW and 48 MW power plants in Japan and Vietnam, respectively, are preparing for Commercial Operation Date (COD) as planned, thus, resulting in the total power generation capacity in 2021 to be more than 200 MW, hence, supporting work achievement with continuously highest recorded statistics and readiness to move forward towards the goal of integrated power producer from renewable energy.
Mr. Warut Dhamavaranugupta, Chief Executive Officer, Sermsang Power Corporation PLC., (SSP) revealed that the 2021 Shareholders Extraordinary Meeting on 6 July 2021 had rendered a resolution approving the Company to invest in the biomass power plant project of 9.9 MW generating capacity by acquiring all shares in Uni Power Tech Co., Ltd., (UPT) from a group of UPT shareholders including the right to receive loan repayment on the part that UPT has still owed UPT shareholders, as well, at the total investment value of 500 million Baht. It is expected that the relevant transactions would be entered into in order to acquire UPT’s 119,070 shares with a par value of 1,000 Baht or computed to be in a proportion of 49% within July 2021 and the transactions to acquire another UPT’s 123,930 shares with a par value of 1,000 Baht or computed to be in a proportion of 51% by May 2022, thus, representing the total acquisitions of UPT’s 243,000 shares computed to be in a proportion of 100%.
Uni Power Tech Co., Ltd., (UPT) has been engaged in the business of producing and selling electricity from biomass energy by carrying out a 9.9 MW biomass power plant project located at Sikhui Sub-district, Sikhui District, Nakhon Ratchasima Province, by starting to distribute electricity into the system (COD) on 24 May 2019, with a period of the trade of 20 electricity with the Provincial Electricity Authority for 20 years.