Thailand’s Bangchak Petroleum acquires SunEdison Japan
The Bangchak Petroleum Public Company Limited, through its subsidiary BCPG, has signed a purchase and sale agreement with SunEdison International and SunEdison Energy to acquire the entire solar power business of SunEdison in Japan.
Bangchak Petroleum is acquiring all the outstanding shares of SunEdison Japan Corporation (SEJ), SunEdison Japan Debt Financing Pte. Ltd. (SEDF) and SunEdison TK Investor 1 Pte. Ltd. (SETK) for a total consideration of US$80 million.
SunEdison's portfolio includes solar power plants in operation with total capacity of 13 MW, solar plants under construction with total capacity of 27 MW and projects under development with total capacity of up to 158 MW. The total capacity of the portfolio acquired was said to be 198 MW.
BPCG president Chaiwat Kovavisarach stated:
"It follows Bangchak's step last year when it stepped into the petroleum exploration and production business with the aims to help strengthen national energy security and diversify into new businesses to create continuity and sustainability for the enterprise."
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