SET-listed Super Energy Corporation Plc (Super), Thailand's largest operator of solar farms based on total capacity within the country and overseas, is restructuring its business by acquiring two new renewable energy assets and selling what it considers to be an inactive asset, part of efforts to make the company an agile organisation.
The board of directors approved the acquisition of 7.1 million ordinary shares of Equator Solar Co, representing 51% of the company's shares, said Jormsup Lochaya, chief executive of Super Energy.
The shares were sold at 115 baht per share.
The purchase, made through Super Energy's subsidiary Super Solar Energy (SSE), increases SSE's shareholding in Equator Solar from 49% to 100%.
Equator Solar generates and distributes electricity from the Khao Yai solar power generation facilities, with combined electricity generation capacity of 75 megawatts. The facilities are located in Phetchaburi's Cha-am district.
The facilities have supplied electricity to the Provincial Electricity Authority (PEA), a state electricity distribution arm, since 2016.
Mr Jormsup said the board also approved the acquisition of 2.55 million ordinary shares of Super Earth Energy 6 Co, representing 51% of the firm's shares.
Each share is valued at 52.3 baht.
The acquisition, also made through SSE, increases SSE's shareholding in Super Earth Energy 6 to 100%, up from 49%.
Super Earth Energy 6 produces electricity from a waste-to-energy power plant, with capacity of 9MW. The plant is located in Phichit province.
The plant began operating in 2020 and sells electricity to the PEA.
According to Mr Jormsup, the board resolved to sell all of the 1.9 million shares held by Super Energy subsidiary SPP Six Co in Thatako Solar Energy Co.
The total paid-up value of the shares, representing 78.5% of Thatako Solar Energy's shares, was 4.93 million baht.
Super Energy considers this asset to be inactive as the renewable energy project initiated by Thatako Solar Energy that was established in October 2022 was not selected to join the 5.2-gigawatt renewables scheme overseen by the Energy Regulatory Commission.