Singha Estate secures exclusive rights for 30% shareholding in three major co-generation power plants
Singha Estate PCL (S), a leading Thai property investment and development company, announced that it has secured the exclusive rights to acquire a 30% shareholding in three major co-generation power plants in Thailand with a total capacity of 400 megawatts, at par value, and with a total investment of approximately THB1.392 billion (US$ 44.9 million).
The first of the plants is an operational 123 megawatt (MW) combined-cycle co-generation power plant that is owned and operated by Angthong Power Company Limited and located in the 'World Food Valley' industrial estate in Ang Thong, Central Thailand.
The second and third plants, each with 140 MW capacity, are greenfield operations that are currently under construction and will enter into service in 2023. They are also located in the 'World Food Valley' industrial estate. The licenses for these power plants are owned by B.Grimm Power (Ratchaburi) 1 Limited and B.Grimm Power (Ratchaburi) 2 Limited.
The three acquisitions are subject to Singha Estate's shareholders' approval at its Annual General Meeting on 23 April 2021.
The three power plants are expected to generate around US$ 242 million in revenues in 2024.
