Padaeng Industry completes Bt1.3 bn purchase of solar farms
Padaeng Industry Plc has completed the purchase of six Thai solar farms worth Bt1.3 billion with total capacity of 30 megawatts from Singapore-based Armstrong Asset Management.
With Symbior, PDI will operate solar farms in Asia with total capacity of 50MW, according to the company’s press release.
The acquisition will generate immediate revenues from the six solar farms holding 25-year power purchase agreements with the Provincial Electricity Authority.
The first solar farm started in June 2013. Four started in December 2015, while the last one started in April 2016.
PDI’s energy team plans to further improve operating performance, similar to the acquisition of PDI Mae Ramat Solar in December 2016.
Including the operating and under-construction plants in Japan, PDI Energy will hold 50MW solar farms in Asia.
The acquired solar farms include two 8MW plants and one 3MW plant located in Prachinburi, a 6MW farm and a 4MW farm in Samut Sakhon and a 1MW farm in Khon Kaen.
