<article>Thailand’s listed coal mines and power plants operator <a style="color: #000080;" href="http://www.banpu.com/">Banpu Pcl</a> has entered into an agreement to acquire four solar projects in Shandong, China at a total investment of around $93 million.</article>

Thailand’s listed coal mines and power plants operator <a style="color: #000080;" href="http://www.banpu.com/">Banpu Pcl</a> has entered into an agreement to acquire four solar projects in Shandong, China at a total investment of around $93 million.
The acquisition will be made once the four plants are operational and generate power by the middle of this year, Banpu’s chief executive Somruedee Chaimongkol told DEALSTREETASIA.
The firm is also studying the possibility to acquire more solar farms in Japan.
“If we can close the deals in both countries, our electricity capacity of solar farms will exceed 100 megawatts, of which 78.5 megawatts from China and 20.8 megawatts from Japan,” she said.
<a style="color: #000080;" href="http://www.banpupower.com.cn/">Banpu Power Pcl</a>, its power plant subsidiary, will be listed on the Stock Exchange of Thailand in the second half of this year as scheduled.
“However, we need to evaluate the market at that time again,&#8221; she added.
The company’s revenue and profit this quarter will be higher than the first quarter thanks to the full revenue recognition from Hongsa Power Plant project in Laos.
It started to operate the third unit of Hongsa project in March and has run the full capacity of 1,878 megawatts from all three units since then. It expects to gain the profit of $70 million from Hongsa project this year.
The coal sales in the second quarter are expected to be around 11.3 million tonnes, similar to last quarter. Of that, 6.9 million tonnes are from its mines in Indonesia, 3.4 million tonnes from Australia and 1 million tonne from China.
The CEO remains confident that it can hit the target to sell 46.3 million tonnes of coal this year.
The coal price is estimated to stay at $49.2 per tonne in the first two quarters of this year. The average global coal price for the entire year is forecast to be around $47-$48, lower than $52 per tonne last year, due to the slowdown demand in China.
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Banpu Pcl has entered into an agreement to have the right to acquire the entire shares in four solar projects in Shandong, China for $93 million.

Thai-listed Banpu to acquire solar power plants in China for $93m

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Thai-listed Banpu to acquire solar power plants in China for $93m

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