Information regarding the deal was unveiled in an article published on the prestigious Thai news website the Bangkok Post on July 9 with the company seeking fresh business opportunities in the renewable energy sector.
The firm therefore expects to conclude a deal during the year’s fourth quarter for at least two solar farms, with a combined capacity of between 50 and 100 megawatts, with an overall budget of between one billion and two billion baht set aside specifically for the purchases.
The article quotes Silparat Watthanakasetr, BGC chief executive, as saying that the company has plans to diversify its business and remains keen to invest in the field of renewable energy, with a specific focus on solar, wind, and water resources.
The BGC chief executive attributes his company’s shift in focus on renewable businesses in Vietnam, Japan, and Taiwan (China) to the high potential for renewable energy in the development plans of these countries, and growth in electricity demand.
BGC has initiated plans to increase its capacity for electricity generation to up to 400MW by 2022 with the company already acquiring solar farm in the nation, with a capacity of 67MW.
The company has allocated a total of between three billion and four billion baht for renewable energy and packaging businesses for the remainder of the year.