Firm to raise funds for solar farms

CEO Somphote Ahunai said yesterday that the proceeds from the initial public offering would be used for constructing a 90-megawatt solar-power plant in Nakhon Sawan after its first 8MW plant in Lop Buri started operating a year ago. The second solar plant is expected to be completed by the end of next year.
The company has also expanded to wind farms in response to the government’s policy to increase the proportion of alternative energy.
The company’s business plan targets four solar farms with combined capacity of 278MW. The third and fourth solar projects, each with a capacity of about 90MW, would be located in Lampang and Phitsanulok.
The company has already applied to the Securities and Exchange Commission for the IPO and sought listing on the Market for Alternative Investment. Its shares have a par value of 10 satang each.
Asset Pro Management was appointed as the financial adviser for the listing.
Energy Absolute posted Bt64.34 million net profit in the first half of this year, due mainly to biodiesel quality improvement, energy cost control and inventory management.
Somphote declined to reveal its exact earnings for this year, as this would depend on biodiesel sales. The company is aiming to sell 100 million litres of diesel this year, up from last year’s target of 92 million litres.