Thailand: PDI Energy buys Mae Ramat Solar Farm for Bt477 million

Thailand: PDI Energy buys Mae Ramat Solar Farm for Bt477 million

PDI Energy, a wholly owned subsidiary of Padaeng Industry, signed an
agreement with International Engineering this week to acquire 99.99 per cent
of the shares in IEC Mae Ramat (IECMR) for a total value of Bt477 million.

The 6.3-megawatt Mae Ramat Solar Farm has sold power to the Provincial
Electricity Authority since December 26, 2013, under a 25-year power
purchase agreement. IECMR is in Tak province.

PDI says the acquisition marks another successful step in the deployment of
its renewable-energy business after the completion of its first operational
solar farm in Japan in October.

The revenues and profits from the IECMR acquisition will be consolidated in
PDI's 2017 financial results. The cash flow generated will be used to
reinvest in other sustainable business projects in the PDI group, it says.

PDI managing director Francis Vanbellen said the company would continue to
expand its renewable-energy business both in Thailand and abroad.

Its solar-farm projects in Japan have progressed as expected, he said. The
farm in Nanao (capacity 2.27MW) started in October and operates at 10 per
cent above target. A second solar farm in Nogata (capacity 10.5MW) is under
construction and is due to begin operating in the second quarter of 2017.

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com