Banpu Public Company Limited (SET: BANPU) has announced that Banpu NEXT Company Limited (Banpu NEXT), the associate company of BANPU equally hold 50% shareholding by the company and Banpu Power Public Company Limited (SET: BPP), has entered into Share Subscription Agreement (SSA) for the investment of 40 percent shares of SVOLT Energy Technology (Thailand) Co., Ltd. with the investment amount of THB 750 million from SVOLT Energy Technology (Hongkong) which shall retain a majority 60% ownership interest. The transaction is expected to be completed by November 15, 2023.
SVOLT Energy Technology (Thailand) Co., Ltd. established on April 5, 2023, in Sriracha Chonburi, Thailand. The company is mainly positioned as a module pack factory, with business scope including research, processing, and sales of lithium-ion battery technology; import and export of goods; import and export agency; technical services, development, consultation, exchange, and transfer; information consulting services (excluding licensing information consulting services). The factory has capacity of 60,000 sets and is expected to deliver within the first quarter of 2024, serving key clients including GWM and HOZON. The factory also has reserved space for expansion, allowing for flexibility to meet growing demands.
This investment is another significant step for Banpu NEXT in striving towards a Net-Zero mission journey as a Net-Zero energy provider and able to capture potential growth in Thailand. Both companies share a similar business strategy that can combine strengths in providing optimum solutions and total service, through advanced technology and high-quality, environmentally friendly equipment to customers.
