By THE NATION
President Bundit Sapianchai said directors on September 17 approved BCPG Biopower 2 Ltd (BBP2), a BCPG subsidiary, investing in the project by acquiring all of the equities of Nam San 3A Power Limited, a listed company in Laos.
BCPG will have a 27-year feed-in tariff contract with Electricite du Laos dating to the start of commercial operations on January 29, 2016.
BCPG will invest US$173 million raised from cash flow and from loans from leading financial institutions, and profits are expected to be recognised immediately.
“The investment in hydropower project in Laos is in line with BCPG’s business growth strategy to expand into various types of renewable energy businesses in Asia,” Bundit said. “This will also enhance stability of the company’s revenue throughout the year, as well as a steady dividend payment to shareholders.
“It also helps balance the diversity of our renewable energy technologies apart from our solar business in Thailand and Japan, wind power business in Thailand and The Philippines, and geothermal power business in Indonesia.”