BCPG lists on Thai stock exchange today, eyes further growth in renewables sector

BCPG lists on Thai stock exchange today, eyes further growth in renewables
sector

BCPG, which is to make its debut on the Stock Exchange of Thailand today,
says that in growing its global renewable-power business, its strategy will
focus on portfolio investment rather than acquisitions of power plants'
assets.

The company says it expects this method to generate decent returns and help
ensure strong and sustainable growth.

BCPG, a subsidiary of diversified oil refiner Bangchak Petroleum (BCP), has
expanded to Japan through its acquisition of SunEdison's entire solar-power
business in that country for nearly US$80 million (Bt2.76 billion). It
intends to use the newly acquired subsidiary to expand further in Japan and
other countries.

This month, the company raised Bt5.9 billion through an initial public
offering of 590 million newly issued shares at the IPO price of Bt10 per
share to a specific group of BCP shareholders and to public and
institutional investors and the company's patronage.

BCPG currently owns domestic and overseas solar power plants with an
aggregate contracted capacity of 324 megawatts. The solar plants in Thailand
have an aggregate contracted capacity of 130MW, consisting of projects that
have begun commercial operation (118MW) and those in the development phase
that are expected to begin commercial operation by this year-end (12MW).

It also has solar plants in Japan with an aggregate contracted capacity of
194MW consisting of projects that have begun commercial operation (20MW) and
those in the development phase (174MW).

Bundit Sapianchai, president of BCPG, said it was now ready for the first
trading day on the SET under the ticker symbol "BCPG", and expressed
confidence that the stock would receive sound feedback from investors,

BCPG will use the funds raised from IPO to finance expansion of its
renewable-power business both domestically and internationally. The
expansion projects will involve various categories of power plants,
including solar, geothermal, wind, biogas, biomass and waste-to-energy,
which it says employ advanced eco-friendly technologies, and are expected to
increase the company's aggregate installed capacity to 1,000MW by 2020.

"Our investment targets are not limited to those in North Asia and Southeast
Asia. We also explore the possibility of investing our capital in other
regions. We will base our decisions to invest on the type of fuel [suitable
for each respective country] and on expected returns on investment," Bundit
said.

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Ref:
http://www.nationmultimedia.com/business/BCPG-lists-on-Thai-stock-exchange-t
odayeyes-furthe-30296331.html

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com