THURSDAY, March 28, 2024
nationthailand

SET lists power plant infrastructure fund SUPEREIF

SET lists power plant infrastructure fund SUPEREIF

The Stock Exchange of Thailand (SET) will today (August 21) list Super Energy Power Plant Infrastructure Fund, the first SET-listed solar power plant infrastructure fund, the ticker symbol "SUPEREIF", with a market capitalisation at its initial public offering (IPO) of Bt5.15 billion (about US$166 million).


SET senior executive vice president Manpong Senanarong said that SUPEREIF would list and start trading on SET in the Resources industry group, Energy & Utilities sector.
SUPEREIF has invested in the rights of net income derived from 19 projects of ground-mounted photovoltaic power plants, with a combined installed capacity of 118 megawatts, under the Very Small Power Producer (VSPP) scheme of “17 Aunyavee Holding Co Ltd” and “Health Planet Management (Thailand) Co Ltd”.
The major income contributor is the selling of electricity to the Provincial Electricity Authority (PEA) and the Metropolitan Electricity Authority (MEA), whichever the case may be. The power purchase agreement was made under fixed price or the feed-in tariff (FiT) scheme at Bt5.66/unit, with 21-22 years remaining for each project (counting from August 2019). Each power plant project has been in commercial operation for over three years.
SUPEREIF offered 515 million newly issued units to the general public during July 22-26 and July 30-31, 2019, and institutional investors as well as patronages on August 5, 2019, at a par value of Bt10 per unit, for a total of Bt5.15 billion. BBL Asset Management Co Ltd (BBLAM) is its fund manager, and Bangkok Bank Plc is its financial advisor and lead underwriter.
BBLAM chief executive Peerapong Jirasevijinda stated that SUPEREIF has the potential to generate a consistent income stream from the 22 years remaining of the power purchase agreement under fixed price with MEA and PEA, so the fund provides opportunities for investors to jointly invest in alternative energy business that yields steady and long-term returns.
SUPEREIF’s dividend policy is to pay no less than 90 per cent of the adjusted net profit to unit holders at least twice a year. SUPEREIF’s three major unit holders after IPO are Super Energy Corporation pcl (SUPER) (20 per cent), KRUNGTHAI-AXA Life Insurance pcl (9.07 per cent), and Muang Thai Life Assurance pcl (9.07 per cent).

nationthailand