Industry Sectors

We have been heavily involved in a number of power and renewable energy projects (e.g. solar, solar roof, wind, biomass, waste and etc.) in Thailand, PRC, Korea, Japan, Laos and other countries in South East Asia countries. Our involvements allow us to gain experience and expertise in this industry as part of our M&A, financing and fund raising via debts and equity both within and outside of Thailand, IPO and listing, PPAs and other contract negotiations, due diligence and other commercial discussions.

Notable transactions include:

M&A

• Advising Clover Power in connection with its acquisition of an entire interest in Siam Pallet Power, the operator of a natural gas-fired cogeneration power plant in Saraburi province


• Advising MPTC, the largest toll road developer and operator in the Philippines, in its divestment of 24.95 % interest in Don Muang Tollway, an elevated toll road operator in Thailand


• Advising Eastern Power in the acquisition of two of its power plants by Univentures and B.Grimm


• Amalgamation between Banpu Infinergy and Banpu Renewable Energy to rationalize and group all clean energy technology businesses, affiliates and investments of Banpu Group


• Disposition of the entire interest in Maesod Clean Energy by Thaioil Ethanol


• Acquisition by Banpu Power (BPP) of an entire interest in Thai Solar Consultant


• Acquisition by IFEC Group of a number of very small power producer projects (VSPP) concerning solar and wind farm in Buengkan, Chonburi, Kalasin, Khon Kaen, Lampang, Lopburi, Nakhon Si Thamarat, Nong Khai, Prachuapkhirikhan, Surin and Udonthani


• Acquisition by PSTC of approximately 51% interest in Biggas Technology

Capital Markets

• IPO and listing of Clover Power, a company engaging in renewable energy business around the globe


• Rights offering of shares and warrants of Baht 29.6 billion by Banpu


• IPO and listing of SAAM Energy Development


• Issue and offering by Banpu of Baht 10,000,000,000 Bonds in Thailand due 2029


• Issue and offering by Banpu of US$50,000,000 5.25% Bonds in Thailand due 2028


• Issue and offering by IFEC of Baht 3,000 million Bonds in Thailand


• IPO and listing of BPP, believed to be the then largest IPO since 2014 and the largest market capitalisation since 2004


• Rights offering of shares and warrants of Baht 12.85 billion by Banpu


• Rights offerings of Baht 11 billion by Banpu Power


• Rights offerings of shares and warrants and a private placement by Power Solution Technologies (PSTC)


• Acquisition by PSTC of approximately 51% interest in Biggas Technology and the issue and offering of its new shares by way of a private placement for the purpose of funding the acquisition


• Issue and offering by Bangchak Petroleum of 80 million NVDRs


• Issue and offering by Banpu and The Cogeneration (CoCo) of Euro Convertible Bonds in 1990s


• IPO and listing of CoCo

Others

• Advising Tradewater in connection with its destruction of refrigerant confiscated by the Customs Department of Thailand


• Advising Symbior in connection with its entry into PPAs and other commercial contracts with leading companies in Thailand, including Thai Union Group


• Proposed acquisition by Metro Pacific Group of a company which is a concessionaire of a desalination project in the south of Thailand


• Advising Betagro in relation to its solar rooftop power projects and power purchase agreements for its 24 industrial sites with Total Solar (Thailand) and other general commercial contracts


• Investment by IFEC for the expansion of its renewable energy business into South East Asia market through a collaboration with Noringo Group of China including an entry into a memorandum of understanding with the Phnom Penh Municipality, the Kingdom of Cambodia, to study and explore the development of waste management and the corresponding electricity generation in Phnom Penh


• Business Cooperation between Navanakorn Electric, Navanakorn Land and Toyo-Thai Corporation for a development of the Power Plant Project near Navanakorn Industrial Estate


• Advising Banpu on its coal supply agreement