Gunkul Engineering to take control of 87-MW Thai solar portfolio

Solar park in Thailand. Featured Image: topten22photo/Shutterstock.com

January 6 (Renewables Now) - The board of Thailand-based Gunkul Engineering Pcl (BKK:GUNKUL) has approved the proposed acquisition of an additional 33% stake in the owner of a solar power business with 87 MWp of operating capacity.

Specifically, Gunkul Engineering will buy some 5.16 million shares in Infinite Alternative Energy Co Ltd (IAE) from Super Solar Energy Co Ltd for THB 780 million (USD 25.9m/EUR 23.1m). Following the transaction, the buyer will hold a total interest of 99.9% in IAE.

IAE is the owner of Rang Ngern Solution Co Ltd (RNS), which has 11 solar projects with power purchase agreements (PPAs) in place with Provincial Electricity Authority (PEA). Ten of the solar plants are of 8-MWp capacity and one amounts to 7 MW. They will receive THB 5.66 per kWh as a feed-in tariff (FiT) for 25 years.

(THB 10 = USD 0.332/EUR 0.296)

More stories to explore
Share this story
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription