Banpu Infinergy buys 25% stake in Singapore’s Sunseap for Bt1.9 bn

The investment, made through its subsidiary BPIN Investment Co Ltd, is valued at S$75 million (Bt1.9 billion) and makes BPIN the major shareholder in Sunseap Group. 
Sunseap has an estimated operating capacity of 93.3 megawatts, which is set to increase to 182.9MW through secured projects, BPIN said. 
Through this partnership, BPIN said Sunseap Group will share its knowledge and experience in servicing its largest customers in Singapore such as public sector agencies, educational institutes and leading global companies such as Apple.
Somruedee Chaimongkol, a BPIN director, said: “Apart from speeding up our expansion in the Thai market, Banpu Infinergy is also committed to strengthening its foundations so that we can efficiently serve our customers while responding to business needs and encouraging the switch to clean energy in Thailand. 
“This investment has come about as a result of the coherent business strategies and visions of Banpu Infinergy and Sunseap Group as they work to combine advanced technology with power generation from solar energy. 
“By placing emphasis on services and system maintenance, both parties can use their networks and experience to foster clean energy innovations for the commercial, industrial and social sectors. 
“For BPIN, this is an important milestone as we expand into a country known for its modern business methods and high growth potential in the green energy industry. This is in accordance with Banpu’s ‘Greener & Smarter’ strategy to move forward as a leading Asian energy company. The partnership is also a firm step towards Banpu Infinergy’s expansion into the global market in the future.”
The investment will give BPIN an increase in power generating capacity of 47MW for signed projects, enhancing its five-year power-generating-capacity goal of 300MW, the company said.