ACE Edges Higher after a PPA Signing with EGAT to Feed 43MW from “Nabon 1 and 2”

The share price of Absolute Clean Energy Public Company Limited (ACE) edged higher in the morning session on Friday, March 26, 2021, by ฿0.06/share or 1.60% to ฿3.80/share with a trading value of 526 million baht. The highest share price up to this point was ฿3.86/share and the lowest was ฿3.76/share.

 

Yesterday, ACE announced that on 19th March 2021, 2 subsidiaries that the company indirectly holds 100% shares; ACE Solar Co., Ltd. (ACE Solar) and Bio Power Plant Co., Ltd. (BPP), have already signed Power Purchase Agreement (PPA) of Nabon 1 Clean Energy Power Plant and Nabon 2 Clean Energy Power Plant with Electricity Generating Authority of Thailand (EGAT) respectively.

 

Nabon 1 SPP-Hybrid Power Plant is a biomass power plant with installed capacity of 25 MW, and has PPA of 21.50 MW with EGAT under Feed-in Tariff (FiT) scheme for the period of 20 years, whilst

Nabon 2 SPP-Hybrid Power Plant is a biomass power plant with installed capacity of 25 MW, and has PPA of 21.50 MW with EGAT under Feed-in Tariff (FiT) scheme for the period of 20 years as well. Both projects are located in Nabon District, Nakhon Sri Thammarat Province.

 

With regard to the PPA signing of Nabon 1 SPP-Hybrid Power Plant and Nabon 2 SPP-Hybrid Power Plant, currently ACE has 3 SPP-Hybrid Power Plant projects with total installed capacity of 70 MW that its’ PPAs have already been signed and has only 1 project; ACE Solar’s Ranong SPP-Hybrid Power Plant with installed capacity of 23 MW, that the PPA has not been signed yet and right now is in the process of requesting for extension of PPA signing deadline and SCOD with relevant government agencies.