Oct 29, 2013 - Thailand’s Electricity Generating Pcl (SET:EGCO) said on Monday it had unloaded its 50% stake in joint venture Absolute Power P Co Ltd (APPC), the operator of a biodiesel plant in Thailand.
The deal was approved in June, while a sale agreement was signed on October 21, the seller said. Its value represents 0.0043% of EGCO’s consolidated assets based on its financial report as of the end of June.
The biodiesel production facility is situated in the city of Rayong on Thailand’s eastern coast and is capable of producing 100,000 tonnes of biodiesel annually. The THB-275.5-million (USD-8.9m/EUR-6.4m) plant was put on stream in October 2011. EGCO purchased the 50% interest in the refinery in May 2012, marking its entry into the biodiesel segment. The investment then was estimated at THB 65 million.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.