BANPU Gains 8% in the Morning as Analyst Expects Buying Pressure to Continue

BANPU Gains 8% in the Morning as Analyst Expects Buying Pressure to Continue.

The share price of Banpu Public Company Limited (BANPU) increased ฿0.65/share or 8.39% to close the morning session on Friday at ฿8.40/share with a trading value of 1,098 million baht.

 

Yesterday, BANPU informed that Project Yamagata Solar Power Plant in Japan that BRE Singapore Pte. Ltd (BRES), an associate company held 50% by BPP through Banpu NEXT Co., Ltd. has invested 100% under TK structure successfully achieved the commercial operation date on November 16.

The project is located in Yamagata prefecture with a capacity of 20MW, which entered into Power Purchase Agreement with Tohoku Electric Power Co., Inc. for a period of 20 years with Feed-in-Tariff of JPY 36 per KW/hour. The electricity generated from this solar power plant can supply electricity to serve 5,000 households and this solar power plant will be named as “Kawanishi Dahlia Solar Power Plant” to be familiar for the local community.

 

Inclusive of this project, Banpu NEXT currently holds interest in 17 Solar Power Plant Projects in Pajan with a capacity of 240.0MW on Equity-base capacity, under which had been COD for a total of 82.64MW on Equity-case capacity.

 

BANPU stated that it will continue seeking investment opportunities to achieve the growth target under energy generation business of 6,100MW in 2025 by focusing on markets with attractive growth and supportive government policy.

 

Globlex Securities stated that the stock is in a rising state with high accumulated volume. Meanwhile, the MACD indicated a buy signal, resulting in an anticipation of the share to rally to a resistance level at 8.50-9.00 baht with a support level at 7.90 baht. Globlex advised a cut lost level at ฿7.80/share.

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