Absolute Clean Energy completes USD-147m IPO in Thailand

Sawdust. Author: Andreanna Moya Photography. License: Creative Commons, Attribution 2.0 Generic.

November 13 (Renewables Now) - The shares Absolute Clean Energy Pcl (BKK:ACE), a Thai company with 211.2 MW of power generation capacity and a steam production and distribution business, started trading today on the Stock Exchange of Thailand.

The company operates mostly biomass power plants, but also has rooftop solar and natural gas projects. It sold a 10% stake in its initial public offering (IPO) at THB 4.4 per share, raising THB 4.45 billion (USD 147m/EUR 133m). Trinity Securities Co Ltd acted as financial advisor. 

Absolute Clean Energy has nine power projects under construction and 10 in the planning phase. It aims to reach 1 GW of capacity by 2024.

(THB 100 = USD 3.3/EUR 3)

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Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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