Mr. Francis Vanbellen, Managing Director of PDI (Padaeng Industry Public Company Limited) revealed the acquisition of the Mae Ramat Solar Farm in Tak, with an installed capacity of 6.3 MW, for a total value of 477 million Baht. The acquisition marks another successful step in the deployment of PDI’s renewable energy business after the completion of its first operational Solar Farm in Japan in October this year.
December 20th, 2016, PDI Energy – a 100% PDI subsidiary – signed a share purchase agreement with International Engineering Public Company Limited, acquiring 99.99% of shares in IEC Mae Ramat Co., Ltd. (IECMR). The Mae Ramat Solar Farm operates and sells electricity to the PEA (Provincial Electricity Authority) since December 26th, 2013 under a 25–year-PPA scheme. IECMR is located at Tambol Kanecheu, Amphur Mae Ramat, Tak province.
As from 2017 the revenues and profits will be consolidated in the PDI Results. The positive cash flow generated with this investment will be used to reinvest in other sustainable business projects in the PDI group.
Mr. Vanbellen added that PDI will continue to expand its renewable energy business both in Thailand and abroad. The solar farm projects in Japan progress as expected. The farm in Nanao (capacity 2.27 MW) started in October, actually operates 10% above target. The second solar farm in Nogata (capacity 10.5 MW) is under construction to go life in Q2 2017.