Banpu Power Public Company Limited (SET: BPP) has disclosed information through the Stock Exchange of Thailand that on 25 December 2024, Banpu Power Investment Co., Ltd (BPIC), a wholly owned subsidiary of BPP, completed the divestment of its equity interest in Nakoso IGCC Power Plant G.K. (Nakoso) through its joint venture, Nakoso IGCC Management Co., Ltd (NIMCO), in which BPIC holds a 33.5% stake. NIMCO divested its 40% equity interest in Nakoso, with BPIC’s proportional share of the transaction valued at approximately THB 1,186 million.
Nakoso operates a 543 MW Integrated Gasification Combined Cycle (IGCC) Power Plant located in Fukushima Prefecture, Japan. This transaction represents the divestment of BPIC’s 13.4% equity interest in Nakoso, equivalent to 73 MW, aligning with BPP’s portfolio management strategy. The strategy aims to transition towards a low-carbon energy generation while maintaining strong cash flow generation.
The proceeds from the transaction will be strategically allocated to support new investment opportunities and drive BPP’s long-term growth and reinforcing its commitment to sustainable development and delivering low-carbon energy solutions.
BPP certifies to shareholders that this investment is not a connected transaction and does not trigger the reporting requirement for the disposition of assets of listed companies under the Notification of Capital Market Supervisory Board.
