Thailand: Superblock arm to acquire five solar energy firms

Solar Farm

Super Solar Energy Co, a wholly-owned subsidiary of Superblock PCL, is acquiring five solar-cell power producers with a combined investment of up to 14 billion baht ($396 million), according to its report to the Stock Exchange of Thailand.

The five companies include Power Technology International Co Ltd (PTI), Energy Serve Co Ltd (ESERVE), Infinite Alternative Energy Co Ltd (IAE), AMANUVE Co Ltd (AMN), and Sri Naga Power Co Ltd (SNP).

Total electricity production capacity of these five companies is 290.05 megawatts (MW), Jormsup Lochaya, Chairman of Superblock’s Board, stated in the report.

Information sourced from the company

“These acquisitions are in line with our policy to promote the solar power production. We believe that this will enhance our competitiveness and profitability in the long run,” he said.

The company has heavily invested this year to boost its solar power capacity in Thailand and abroad to 500 MW this year.

In June, it signed a memorandum of understanding with Japan’s Energy Complex to build a 300 MW solar power plant in Japan with an estimated investment of 27 billion baht ($764.3 million).

Two months later, it acquired four solar cell projects in Thailand with total capacity of 17.40 MW.

However, for the latest acquisitions, it will propose to the shareholders for approval at a meeting on October 30.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.