BANPU Acquires 2 Solar Farms in Australia, Expecting to Achieve 6,100MW Capacity in 2025

Banpu Public Company Limited (BANPU) has announced that its 100% subsidiary Banpu Energy Australia Pty Ltd (BEN) and Banpu Renewable Australia Pty Ltd (BREA), 100% subsidiary of Banpu NEXT Co., Ltd., in which Banpu Energy Hold Trust has been established by BEN hold 80% and BREA hold 20% for investment in 100% of the units and shares in the 2 solar farms in Australia, Beryl Solar Farm (BSF) and Manildra Solar Farm (MSF) with the purchase consideration of AUD 97.5 million (approximately 2,332 million baht).

The Securities Sale Agreement (SSA) between Banpu Energy Hold Trust and New Energy Solar Limited (NEW) has been successfully executed on 6th June 2021.

 

These 2 solar farms have total generation capacity of 166.8 MWdc, consists of BSF of 110.9 MWdc, achieved Commercial Operation Date (COD) since June 2019 and MSF of 55.9 MWdc, achieved COD since December 2018.

Both solar farms are located in New South Wales, Australia, where there is growing demand in electricity consumption and having a supporting policy from the Government in promoting electricity generation from renewable energy. The 2 solar farms supply electricity through the National Electricity Market (NEM) under long-term Power Purchase Agreement (PPA) with the investment grade offtakers, reflects the strong financial position with consistent long-term cash flow.

BANPU stated that this investment is a significant milestone under Greener & Smarter strategy and a stepping stone to the renewable business under Australian wholesale electricity market with advanced trading system and mechanism.

 

BANPU will continue its sustainable growth strategy to achieve capacity target of 6,100 MW in 2025, where 5,300 MW will be contributed by Banpu Power Public Company Limited (BPP), seeking investment opportunities in power projects by focusing in cleaner technology in the markets with attractive growth and supportive government policy.