ACE Surges over 6% after Being Selected as Qualified Bidder for 29 Community Power Plants

The share price of Absolute Clean Energy Public Company Limited (ACE) rose ฿0.24/share or 6.49% to ฿3.94/share as of 15:37 local time in Thailand, with a trading value of 1,451 million baht.

The company announced in reference to pursuant  to an announcement made by the Provincial Electricity Authority (PEA) on 9th July 2021 regarding a list of qualified very small power producer bidders that their bidding proposals have met the technical criteria for the Community Power Plant for Local Economy Project (Pilot Project), there are 95 bidder shave been selected as qualified bidders out of 246 bidders who submitted the proposals. 

ACE informed that there were 29 subsidiaries of the company that participated in the Project’s bidding process by submitting 29 proposals to the PEA and all of them have been selected by PEA as qualified bidders that its proposal have met the technical criteria. The total installed capacity and total power purchase agreement  (PPA) capacity of these 29 projects are 93.00 MW and 78.85 MW respectively comprise of 28 biogas (energy crops) power plant projects with total installed capacity and total power purchase agreement (PPA) capacity of 90.00 MW and 76.00 MW respectively and 1 biomass power plant project with installed capacity and power purchase agreement (PPA) capacity of 3.00 MW and 2.85 MW respectively.

The PEA’s announcement regarding the list of qualified bidders that their bidding proposals have met the technical criteria as mentioned above is only a major step in the whole bidding process of the Project, so there will be more steps which include the price proposal evaluation and selection. If there is any significant progress or development of the bidding process or the bidding result, the company shall notify as appropriate.