Banpu Public Company Limited (SET: BANPU) on Friday notified the Stock Exchange of Thailand that its subsidiary BRE Singapore Pte. Ltd. (BRES) has entered into a Shares subscription Agreement for the purchase of 49.04 percent shareholding in Solar Esco Joint Stock Company, established and operating under the laws of Vietnam from existing shareholders for the amount of USD14.5 million (approximately THB466 million).
Solar Esco Joint Stock Company is a leading renewable company in Vietnam, providing full-fledged rooftop solar power platform covering planning, development, and construction as well as providing EPC and O&M service with decades of experiences servicing and working with diversified partner portfolio comprises of commercial centers, industrial plants, and warehouse with existing capacity of 20.4 MW, and potential of 106 MW in pipeline. The transaction is expected to be completed by 2-quarter of 2022.
This investment is another significant step for the energy technology business through the acceleration of a greener portfolio by expanding a smarter energy platform to Vietnam, a strategic market with high potential for growth, enhancing the synergy among the Banpu Ecosystem and reinstating Banpu ambition in delivering smarter energy for the future.