SET-listed Bangkok Aviation Fuel Services Plc (BAFS) is diversifying into the renewable energy business by buying seven solar power plants, worth 1.7 billion baht, from Padaeng Industry Plc (PDI), as the aviation industry remains high-risk.
BAFS reported to the Stock Exchange of Thailand yesterday its board of directors approved the takeover of the plants, with combined capacity of 36.4 megawatts, owned by PDI’s subsidiaries.
The subsidiaries are ATC Enviro Co (ATCE), PDI Mae Ramat Co (PDIMR) and P.P. Solar (Nong-No) Co (PPS). ATCE operates five solar power plants, with total capacity of 29MW, in Prachin Buri and Samut Sakhon provinces.
The company signed a power purchase agreement between 2015 and 2016 with state-run Provincial Electricity Authority over a period of 25 years.
PDIMR and PPS have run solar power facilities, with capacities of 6.3MW and 1.1MW in Tak…
