META-ECF-SCN Announce “Solar Minbu” Phase 1 to be Commercialized in 2Q!
As a co-investor in "Solar Minbu Project", META, ECF, and SCN have announced that the project is now close to 92% completion, expecting COD first phase on 2Q.
Meta Corporation Public Company Limited (META), East Coast Furnitech Public Company Limited (ECF), and Scan Inter Public Company Limited (SCN), as a co-investor in Green Earth Power (Thailand) Co., Ltd. (GEPT) to develop the 220 MWDC Solar Power Plant Project in Minbu Region, had jointly announced that the progress of 91.63% completion in the project.
The project is currently undergoing its Cold Commissioning by the Department of Power Transmission and System Control (DPTSC), under the Ministry of Electricity and Energy (MOEE) since April 5, 2019. Upon successful testing and commissioning by MOEE and its off taker, Electric Power Generation Enterprise (EPGE), the project is anticipated to reach its COD during the 2nd Quarter of 2019.
For the initial schedule of COD for Phase 2, 3, and 4, it would be complete within 360 days after COD for each phase.
In addition, ECF is required to pay for a capital increase in GEPT in the amount of USD 20.22 million, which will be paid when GEPT requests to increase its registered capital in each phase for the development of Project of all four phases. The increase of capital in each phase will be executed after the completed COD of each phase.
