<article><a href="http://www.pst.co.th/" target="_blank">Power Solution Technology Co (PSTC),</a> an electric power supply integrated solution and environment management company, is planning to investing in renewable energy business from the funds raised in its initial public offering (IPO).</article>

<a href="http://www.pst.co.th/" target="_blank">Power Solution Technology Co (PSTC),</a> an electric power supply integrated solution and environment management company, is planning to investing in renewable energy business from the funds raised in its initial public offering (IPO).
It has sold its 450 million IPO shares at 65 satang each to raise 292.5 million baht last week and is scheduled to start trading on Thailand’s Market for Alternative Investment (MAI) on this Thursday.
Chief executive Pranai Kungwalrut said that it would use some parts of the fund to set up seven of 990-kilowatt biomass power plants with total production capacity of 6.93 megawatts and the rest would be kept as the company’s working capital.
For the biomass power plants, it will invest through Bio Go Green Company, of which PSTC holds 99.97 per cent shares. So far, one plant has been approved by Provincial Electricity Authority (PEA), while the remaining six plants are awaiting approval.
Previously, the company had signed a memorandum of understanding with the provincial administration office in Surin Province to build an eight megawatt waste-based power plant.
For the first nine months, PSTC recorded the revenue of 330 million baht ($10.06 million), up 1.42 per cent from the same period last year. The net profit increased 37 per cent to 21.57 million baht ($0.66 million).
According to Kungwalrut, the company’s performance was affected by the political turmoil and the resulting delay of the government’s projects.
Currently, PSTC has two main businesses- service provider of electricity installation and environment management; and a renewable-energy power plant business.

PST to invest IPO funds in renewable energy

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