Thai Solar Energy to Invest in Municipal Waste-to-Energy Project

Strategic Insights -

Thai Solar Energy Public Company Limited has announced that its Board of Directors has approved the investment in Power Ace One Co., Ltd., the winner of a government tender for a municipal waste management project. The project, which will convert municipal waste to electricity using stoker-type incinerator technology, will have a power generation capacity of 9.9 megawatts and sell 8 megawatts of electricity. The project's term is 28 years and six months, with a construction preparation period of three years and six months and an operation period of 25 years.

Key Takeaways:

  • The Board of Directors of Thai Solar Energy Public Company Limited has approved the investment in Power Ace One Co., Ltd., the winner of a government tender for a municipal waste management project.
  • The project will involve the purchase of 94.75% of the total issued ordinary shares of Power Ace One Co., Ltd. and the purchase of the right to demand other shareholders to sell 5.25% of the total issued shares.
  • The total value of the transaction will not exceed 2,456.00 million Baht, comprising the purchase price of the shares together with additional investment in machinery, equipment, and related constructions for the municipal waste-to-energy project.
  • The project has a term of 28 years and six months, with a construction preparation period of three years and six months and an operation period of 25 years from the date of construction completion.
  • Thai Solar Energy will hold 100% of the paid-up registered capital in Thai Community Energy Company Limited, which will invest in Power Ace One Co., Ltd.
  • The project will convert municipal waste to electricity using stoker-type incinerator technology and will have a power generation capacity of 9.9 megawatts, selling 8 megawatts of electricity.
  • The project's assets, including land and structures, will belong to the private entity (Build-Own-Operate: BOO) and will not be transferred to the public sector upon expiration of the term.

Statistics:

  • The total value of the transaction will not exceed 2,456.00 million Baht.
  • The project will have a power generation capacity of 9.9 megawatts, selling 8 megawatts of electricity.
  • The project's term is 28 years and six months.
  • The construction preparation period is three years and six months.
  • The operation period is 25 years from the date of construction completion.

Sources:

  • Stock Exchange of Thailand, Announcement, 4 September 2025
  • Capital Market Supervisory Board, Notification, TorChor. 20/2008
  • Board of Governors of the Stock Exchange of Thailand, Notification, B.E. 2547 (2004)