Business News

BANPU INFINERGY INVESTS IN SINGAPORE’S ENERGY STORAGE SYSTEM BUSINESS COMPLEMENTING ITS ONE-STOP SERVICE AND REINFORCING ITS LEADERSHIP AND FINANCIAL STRENGTH

Date : 15 March 2018

Mrs. Somruedee Chaimongkol, Chief Executive Officer of Banpu Public Company Limited and Director of Banpu Infinergy Company Limited

Banpu Infinergy Company Limited, a one-stop provider of total solar energy solutions through advanced and green technologies and a subsidiary of Banpu Public Company Limited, has announced its investment in Singapore’s energy storage system business by acquiring 44.84% interest of New Resources Technology Pte. Ltd. (NRT), transaction valued around USD 33.2 million or around THB 1,038 million. This underlines Banpu’s strong cash flow and is the first step for Banpu Infinergy as it prepares for future expansion into the energy storage system business to increase efficiency and add value to the business in the future.

Mrs. Somruedee Chaimongkol, Chief Executive Officer of Banpu Public Company Limited and Director of Banpu Infinergy Company Limited, said: “As a leading total energy provider, Banpu and its subsidiaries are always in search of new technologies and investments to enhance businesses, meet customers’ needs, and anticipate future energy trends that are consistent with Banpu’s Greener & Smarter strategy and Banpu Infinergy’s position as a provider of total solar energy solutions with a highly professional after-sales service. In addition to high-quality rooftop solar service provider, we see the opportunity for and importance of the energy storage system business, which can help increase the stability of the power generation system and improve effectiveness in energy consumption, as well as push forward the use of electricity in electric vehicle. This will help drive the country towards sustainable green energy and is the rationale behind this investment in the energy storage system business in Singapore.”

New Resources Technology Pte. Ltd. (NRT), a specialist in the design, manufacture and integration of Lithium-Ion Battery (LiB) for automotive and Energy Storage System (ESS), was established in Singapore more than 8 years ago. The company’s plant in China currently has a production capacity of 80 megawatt-hour (MWh) with plans to expand in the future to serve customers in China, Japan, India, ASEAN and European region. Through this investment, Banpu Infinergy and New Resources Technologies will jointly develop energy services to provide high quality technologies and equipment to customers.

For more information about rooftop solar systems and installation, please visit www.banpuinfinergy.co.th or contact call center via 02-095-6599.