QTC completes acquisition of L Solar 1 Plant the record the revenue in Q4/2017

Energy Press Releases Friday September 22, 2017 10:41
Bangkok--22 Sep--Media Planner Consultants

QTC Energy Public Company Limited (QTC) disclosed the completion of the acquisition of L Solar 1 Plant of which the revenue would be immediately received in Q4/2017. CEO, "Mr. Poonphiphat Tantanasin" said the Company was ready to expand to invest in energy business following its expansion policy in order to build up confidence and strengthen future revenue structure.

Mr. Poonphiphat Tantanasin the Chief Executive Officer of QTC Energy Public Company Limited or QTC, the leading transformers manufacturer and distributor as well as energy business investor said after the approval of the Company's Board of Directors and shareholders for the Company's subsidiary, QTC Global Power Co., Ltd. (QTCGP), to acquire the total shares of L Solar 1 Co., Ltd. in order to invest in the solar plant project with the contracted capacity of 8 MW in Kabinburi district, Prachinburi province worth approximately more than THB500 million of the investment, recently, the Company had entered the management role in L Solar 1 and the revenue from the investment in L Solar 1 Plant would be gradually recorded in Q4/2017.

The project has already commenced its commercial operation. The L Solar 1 power plant project has 1 contracted capacity of 8 MW with the Provincial Electricity Authority (PEA) due to the Small Power Producer project (SPP). It is a Non-Firm contract with every 5 year renewal and the adder of THB8 per kilowatt per hour for 10 years starting from the day of the commercial operation on December 2, 2011. In 2016, the accumulated profit was at THB170.68 million. From 2014-2016, the L Solar 1 power plant project reported the profit of THB76.23 million, THB75.22 million, and THB77.81 million, respectively.

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