Thailand’s UWC acquires biomass power plant for $14.5m

Visual from the UWC website

Ua Withya PCL (UWC), Thailand-based industrial equipment manufacturer, has acquired a 9.9-megawatt biomass power plant in Nakhon Rachasima from the former owner for 525 million baht ($14.5 million).

This is the company’s third acquisition of biomass-based power plants. Earlier, it had bought two small power plants located in Nakhon Si Thammarat and Khon Kaen.

According to the company’s statement, the power plant has secured a power purchase contract from the Provincial Electricity Authority and it will generate 220 million baht in annual revenue, starting from the fourth quarter of this year.

This acquisition will help it achieve renewable energy capacity of 50 megawatts this year, UWC’s managing director Peratus Dhanarachwattana said in the statement.

“We have adjusted the technology to enable the power plant to use various feedstock and make the yield increase from 17 to 22 per cent,” he said.

To secure raw material for feedstock, it also prepares to grow energy crops on the land of 8,000 rais in Nakhon Rachasima.

This power plant is also exempt from income tax until 2019 and is subjected to 50 per cent tax in the subsequent five years as it has been approved the incentives from the Board of Investment.

Earlier the company had disclosed that it was in talks to make joint ventures or acquisitions with four renewable power plant projects in Thailand and abroad. It set aside an estimated investment of 4 billion baht for these projects.

Related stories:

Thailand’s UWC eyes four JVs for renewable energy

Thailand’s UWC enters renewable energy biz

 

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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).

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  • 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. 
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