The Board of Directors of the International Engineering Public Company Limited or IEC has approved the purchase of common shares in Biogas Power Plant located in Kamphaeng Phet province. Hence, the company will hold 100% of the investment total of 400 million baht from this acquisition.
On March 23, 2015, The Board of Directors of the International Engineering Public Company Limited or IEC has approved the Company to investment in Biogas Power Plant with a capacity of 5.7 MW by acquiring shares of Thaworn Energy (2013) Ltd.
The project is located at Lan Dokmai, Muang, Kamphaeng Phet province. This project has developed advanced technology to produce biogas without fermentation.
IEC will invest a total of 400 million baht by the acquisition of 125 million baht the first payment on April 30, 2015. The rest of the capital is invested in the construction of power generation projects, which is expected to be completed and commercial electricity sales (COD) in the month of December 2015.
The investment in the Biogas Power Plant is consistent with the plans and strategies of the business. IEC that focus on investing in renewable energy, which received support from the government as well. In addition, the investment will generate effective revenue and return to the company. Because the the sale of electricity at the rate Feed-in Tariff (FiT) for a period of support 20 years at a rate of 5.34 baht per unit and plus FiT Premium of 0.50 baht per unit for a period of eight years. Therefore, the sale of electricity to the provincial electricity Authority (PEA) after 2016 FiT rates will rise continuously, according to the Core Inflation Rate.
Source: IEC Investor Relations 24/03/15