Thai coal miner, Banpu PCL is buying a 25.7 percent stake in Singaporean green energy firm, Sunseap Group Pte Ltd for $55.7 million, the company said on Tuesday.
Banpu is making the investment through its subsidiary, Banpu Infinergy Company Limited (BPIN). The purchase of the stake will increase BPIN’s generating capacity to 47 megawatts (MW) of signed projects, a step toward its five-year goal of 300 MW, according to the statement.
