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.

Latest Press Release

PTT Stations operate as usual on 26 October to facilitate people across the nation

Miss Jiraphon Kawswat, Senior Executive Vice President, Oil Business Unit, PTTPLC, said that PTT service stations would continue to operate business as usual across the country on 26 October, 2017, to facilitate people by providing free drinking water at...

Photo Release: PTT Russians Gazprom Neft expand collaboration

Mr. Tevin Vongvanich, PTT CEO signed a Memorandum of Understanding (MoU) to cooperate in the energy development with Mr. Alexander Dyukov, CEO of Gazprom Neft, Russian integrated oil company. The agreement covers potential collaborations in the...

PDI signs MoU with EDL-Gen to jointly invest in two hydropower plants in Laos with 114 MW capacity in total.

PDI makes a further expansion in renewable energy by signing a memorandum of understanding to jointly invest in two hydropower plants in Laos, Nam San 3A and Nam San 3B, with a total capacity of 114 MW. The investment objective is to help PDI attain...

Photo Release: PTTEP receives 2017 LESS Award Letter of Recognition from TGO

PTT Exploration and Production Public Company Limited (PTTEP), represented by Lawan Pornsakulsakdi, Vice President, Environment Management Department received the 2017 LESS Award Letter of Recognition from Dr. Kurujit Nakornthup, Chairman of Thailand...

Vestas wins 180 MW order in Thailand

The order includes 60 V136-3.0 MW turbines that will be the first of their kind in Asia Pacific. With a hub height of 157 meters, the wind park will feature the highest towers in the region to date. The firm and unconditional order is placed by new...

Related Topics