Banpu Power plans IPO, eyes investment in RI

Thailand's Banpu Power (BPP), a unit of Banpu plc, unveiled Wednesday plan to launch an initial public offering (IPO) on October 18-20 as it aims to become a regional leader.

Somruedee Chaimongkol, Chief Executive Officer of Banpu said in a statement proceeds will be used to repay debts, finance expansion programs and for working capital as the firm aims to become a regional leader in the power business.

Banpu Power said it will continue to drive the company?s renewable energy investment strategy, to create balanced and sustainable growth for the business through conventional and renewable power generation, whilst utilizing advanced technologies that are safe and environmentally friendly.

By the end of 2025, the firm aims to achieve the total equity-based power generation capacity to 4,300 MWe,whereby a minimum of 20 percent will be renewables based.

At present, Banpu Power holds a total equity installed capacity of 1,913 MWe, from the power plants and projects which have started commercial operations.

Projects under development which will start commercial operations later on are the extensions of Luannan and Zouping CHP Plants, Shanxi Lu Guang Power Plant, Japan solar assets and Thailand solar project, which Banpu Power holds a total equity-based power generation capacity of 553.2 MWe.

Banpu Power is also in a process to complete the acquisition of solar projects in China with a total equity-based capacity of 90 MWe.

Voravudhi Linananda, Chief Executive Officer and Board of Banpu Power said that ?Banpu Power strategy focuses on sustainable growth by increasing its equity-based power generating capacity to 4,300 MWe by the end of 2025."

"We invest for high-quality power generation assets which are located in fast growing markets in Asia, together with strong growth pipeline across multiple geographies. A strong growth outlook in the power industry supported by robust growth in GDP, power demand and renewable power generation in Southeast Asia and China will pave the way for the sustainable growth of Banpu Power assets."

"Currently, we are operating in four countries, which include Thailand, Lao PDR, China and Japan and we plan for new investments in other countries in Asia including Indonesia, Philippines, Myanmar and Vietnam," he said.?

Editing by Reiner Simanjuntak