Banpu Power Plc (BPP), the power generation arm of non-oil energy conglomerate Banpu, has acquired 2.5 billion baht worth of shares in Nakoso IGCC Management (Nimco), which owns the 543-megawatt Nakoso IGCC power plant in Japan’s Fukushima Prefecture, in a move that has been touted as seeking quick returns.
BPP was attracted to this brownfield investment as the facility is equipped with environmentally friendly integrated gasification combined cycle (IGCC) technology and is scheduled to start commercial operation this month, generating cash flow soon.
Revenue recognition is slated for the second quarter of this year.
“The investment helps balance our power generation portfolio,” said BPP chief executive Kirana Limpaphayom.
BPP acquired a…
