Thailand's Solar Power Business

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KoratCat
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Thailand's Solar Power Business

Ungelesener Beitragvon KoratCat » Sa Apr 02, 2011 12:12 pm

SPC becomes top solar firm


Steel takeover affords backdoor listing

Solar Power Co (SPC) will become the largest solar farm developer in Southeast Asia after its reverse takeover of MAI-listed Steel Intertech Plc.

The takeover of Steel will provide a backdoor listing for SPC, and the new entity will be renamed the Solar Power Group (SPCG).

Under the deal, Steel Intertech with paid-up capital of 500 million baht offered 450 million new shares to SPC shareholders for 2.19 baht apiece.

The ratio of the share swap, which was was completed on Monday, was 10 Steel shares for one SPC share.

After the takeover, the largest shareholder will be SPCG at almost 75%.

SPCG's major shareholders will be Wandee Khunchornyakong with a 52.61% stake, Charnchai Kultavarakorn (10.8%) and Prakong Khunchornyakong (4.32%). Previously, Prasit Ounvorawong and his family were major shareholders in Steel.

Ms Wandee will replace Mr Prasit as CEO, while Mr Charnchai will be the executive chairman.

However, 55% of the newly issued Steel shares or 247.5 million shares are subject to a one-year silent period, in accordance with Stock Exchange of Thailand regulations.

Ms Wandee said SPC had been awarded 34 licences under the government's very small power producer programme to develop solar farms upcountry.

In 2009, the company signed power purchase agreements with the Provincial Electricity Authority to supply power to the country's power grid via 6-megawatt solar farms.

Kasikornbank has provided financial loans totalling 24 billion baht for the projects with a payback period of seven to eight years.

Each solar farm takes up to six months to build. The project enjoys Board of Investment privileges including an adder tariff of eight baht per kilowatt hour for a period of 10 years.

All 34 solar farms will be completed by 2013. Three are already running, in Nakhon Ratchasima, Sakon Nakhon and Nakhon Phanom provinces.

This year, SPC is targeting an additional 16 solar projects, while 10 solar farms will generate revenue.

The solar farms will also benefit from selling carbon credits via the Clean Development Mechanism scheme.

Ms Wandee said after the takeover, Steel's business will change from steel roofing to solar farms.

Its stock will continue to trade on the MAI, but the trading symbol will change from STEEL to SPCG.

SPC will soon launch a tender offer for the remaining 25% of Steel shares from minor shareholders.

Shares of Steel closed on the MAI yesterday at 26 baht, unchanged, in trade worth 5.22 million baht.

Bangkok Post
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adventurecambodia
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Re: Thailand's Solar Power Business

Ungelesener Beitragvon adventurecambodia » Fr Aug 02, 2013 12:26 am

Solar Power Co (SPC) will become the largest solar farm developer in Southeast Asia after its reverse takeover of MAI-listed Steel Intertech Plc.

there are many people those are working on the same business and earning a lot..

my brother has also started the same business... hope we will get benefits..


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