Begistics Public Company Limited (B), Millcon Steel Public Company Limited (MILL) and Wave Entertainment Public Company Limited (WAVE) have entered into the joint investment in energy business to establish The Megawatt Company Limited in order to penetrate the renewable energy market. What an interesting deal..!
Regarding shareholding structure, B holds 5%, MILL holds 37.08% and WAVE holds 26.48%, while Miss Pui Man Lee and Mr. Thanarat Possawong hold 16.58% and 13.24% respectively.
This deal was seen as a win-win partnership. B is a logistic service provider which has many competitors, MILL, a steel manufacturer and contributor, is now facing a continuous decline in profit, meanwhile an entertainment company WAVE is struggling to survive in this industry. Therefore all of them are seeking new business opportunities to compensate for losses.
Energy business is their answer as it’s the business with a recurring income and has permanent clients including Electricity Generating Authority of Thailand (EGAT) and Provincial Electricity Authority (PEA).
Currently, The Megawatts Company Limited has plans to invest in a solar farm project of Siam Solar Generation Company Limited (SSG) in Bamnet Narong District, Chaiyaphum Province, with the installed capacity of 22.5 MW and plan to invest in the solar power plant with the installed capacity of 360 MWp located in Mandalay, the Republic of the Union of Myanmar.
The first 60 MWp of this project will be constructed in late 2020 and the commercial operation date for selling electricity to the Ministry of Electricity and Energy, the Republic of the Union of Myanmar is scheduled in 2021 for the period of 30 years following the commercial operation date.