SET-listed BCPG Plc, the renewable energy arm of Bangchak Corporation Plc, is keen on new investments in solar photovoltaic (PV) systems in Japan after it finalised its asset transaction for two solar power projects in that country.
BCPG reported to the Stock Exchange of Thailand it completed the asset transaction for the Nikaho and Nagi projects to an infrastructure fund, for which the income is recognised immediately.
President Bundit Sapianchai said the two solar power plants in Japan have a total production capacity of 27.53 megawatts -- the Nikaho project has 13.16MW and the Nagi project 14.37MW. The infrastructure fund is also located in Japan.
"After expense deduction, this asset transaction will bring cash flow of over ¥11 billion to BCPG. After a repayment of some ¥7 billion, there will be cash in hand of over ¥4 billion," he said.
Mr Bundit said this move is in line with BCPG's strategy to maximise benefits for shareholders by lowering the debt-to-equity ratio, stabilising cash flow and seeking ways to gain more cash for new growth plans, both domestically and internationally.
