Bangchak Petroleum to Spend $401 Million on Solar Power Projects
Stock Chart for Bangchak Petroleum PCL/The (BCP)
Bangchak Petroleum Pcl (BCP), a Thai state- owned refiner, plans to spend 12 billion baht ($401 million) to expand solar power projects, President Anusorn Sangnimnaun said.
The expansion will help boost earnings before interest, taxes, depreciation and amortization to 2.2 billion baht after the three projects start operating, from an estimated 115 million baht this year, Anusorn said.
The first plant, with a capacity of 38 megawatts, started supplying electricity to the national grid on Aug. 5. Construction of the second plant, with a planned capacity of 32 megawatts, will start around the end of the year, he said.
The third project, with a capacity of 48 megawatts, will be built next year. The projects take about 15 months to complete, Anusorn said.
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