BCPG Launches Global Expansion of Renewable Power Business Targets 1,000MW Installed Capacity by 2020 to Sustain Long-term Growth

Stocks and Financial Services Press Releases Wednesday September 28, 2016 11:32
Bangkok--28 Sep--MT Multimedia

Renewable power generator and seller BCPG is ready for its first trading day on Sep. 28, and is confident its stock will attract healthy interests from the investors. It has announced a plan to grow its presence in the global renewable power business through direct investment, mergers, or acquisition, aiming to increase the aggregate installed capacity to 1,000MW by 2020 to maintain strong performance growth.

Mr. Bundit Sapianchai, President of BCPG Public Company Limited ("BCPG"), a renewable power generator and seller, revealed that BCPG stock has been warmly received by investors on its first day trade on September 28, after the company has successfully made an initial public offering (IPO) of 590 million newly issued ordinary shares with a par value of THB 5 per share at the IPO price of THB 10 per share to specific group of BCP's shareholders who are entitled to the allotment between Sep. 14-16, and to public and institutional investors and the company's patronage on Sep, 16, 19, and 20.

BCPG will use the funds raised from IPO to finance expansion of its renewable power business both domestically and internationally. The expansion projects will involve various categories of power plants, including solar, geothermal, wind-energy, biogas, biomass and waste-to-energy power plants, which employ advanced, eco-friendly technologies, and is expected to increase the company's aggregate installed capacity to 1,000MW by 2020.

BCPG is prepared to invest in renewable power plant projects both by making bids or applying for approvals to sell electricity to develop renewable power plant projects by itself and by acquiring projects that have commenced commercial operation or those in construction or development phase. Its strategy will focus on portfolio investment rather than acquisition only power plants' assets. It expects the scheme to generate decent returns and help growing its renewable power plants business strongly and sustainably.

"Our investment targets are not limited to those in North Asia and South East Asia. We also explore the possibility of investing our capital in other regions. We will make decisions to invest based on type of fuel (which should be suitable for each respective country) and on expected returns on investment," said Mr.Bundit.

BCPG currently owns domestic and overseas solar power plant projects with an aggregate contracted capacity of 324MW. The solar power plant projects in Thailand have an aggregate contracted capacity of 130MW, consisting of projects that have begun commercial operation (118MW) and projects in development phase that are expected to begin commercial operation by this yearend (12MW). It also has solar power plants in Japan with an aggregate contracted capacity of 194MW consisting of projects that have begun commercial operation (20MW) and projects in development phase (174MW).

Mr. Paiboon Nalinthrangkurn, Chief Executive of Tisco Securities Company Limited, as a financial advisor and lead underwriter, added that several governments have moved to increase the percentage of power production from renewable energy as a way to ensure security and sufficiency of power to satisfy rising demand, which poses a great opportunity for BCPG to increase its presence in the global renewable power business. The company is blessed with financial resources and extensive experience and expertise in the field, and he is confident that it will reach the capacity enhancement goal and continue to record robust growth in the future.

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