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

Strategic Insights -

Thai Solar Energy Public Company Limited has announced that its subsidiary, Thai Community Energy Company Limited, will invest in Power Ace One Co., Ltd., the winner of a government tender for a municipal waste management project in Uttaradit Province. The investment will involve the purchase of 94.75% of Power Ace One's shares, with an additional investment in machinery and equipment for the project. The total value of the transaction will not exceed 2,456.00 million Baht.

Key Takeaways:

  • Thai Solar Energy's subsidiary, Thai Community Energy Company Limited, will invest in Power Ace One Co., Ltd., the winner of a government tender for a municipal waste management project in Uttaradit Province.
  • The investment involves the purchase of 94.75% of Power Ace One's shares, with an additional investment in machinery and equipment for the project.
  • The total value of the transaction will not exceed 2,456.00 million Baht.
  • The investment will be considered an asset acquisition transaction, as it is above 15% but below 50% of the company's total assets.
  • Thai Solar Energy is required to disclose information regarding the asset acquisition to the Stock Exchange of Thailand and to deliver it to shareholders within 21 days.

Statistics:

  • Total value of the transaction: 2,456.00 million Baht
  • Percentage of Power Ace One's shares being purchased: 94.75%
  • Power generation capacity of the project: not exceeding 9.9 megawatts
  • Selling capacity: 8 megawatts
  • Transaction size: 30.38% (based on the Company's consolidated financial statements as of 30 June 2025)
  • Timeframe for disclosure to shareholders: 21 days from the date of disclosure to the Stock Exchange of Thailand

Sources:

  • Company Announcement : Thai Solar Energy Public Company Limited, dated 4 September 2025
  • Notification of the Capital Market Supervisory Board No. TorChor. 20/2008 Re: Rules on entering into Material Transactions Deemed as Acquisition or Disposal of Assets (as amended)
  • Notification of the Board of Governors of the Stock Exchange of Thailand Re: Disclosure of Information and Other Acts of Listed Companies Concerning the Acquisition or Disposition of Assets, B.E. 2547 (2004) (as amended)
  • Stock Exchange of Thailand (https://www.set.or.th/en/home)