STPI Invests THB1.5 Billion to Acquire Nearly 16% in Laos’ 600MW Monsoon Wind Power Project

STP&I PUBLIC COMPANY LIMITED (SET: STPI) announced on Wednesday that the company invested in the 600-MW Monsoon Wind Power Project of Monsoon Wind Power Company Limited, located in Lao People’s Democratic Republic, which renders businesses in the generation and sale of electricity under the power purchase agreement to Vietnam Electricity, Vietnam.

STPI stated that it will purchase ordinary shares in Impact Monsoon Holding Limited (IMH), the juristic entity registered under the Hong Kong Special Administrative Region of the People’s Republic of China, from Earth Power Investment Ltd., and existing shareholder of IMH, equivalent to 1,531.18 million baht. After acquiring the IMH’s shares, the company will be the ultimate shareholder in the proportion of 15.87 percent of the MWPCL’s paid-up capital.

The purpose of investment is to increase the opportunity to generate passive income and profit for its group company.