Thai investor receives approval for geothermal investment plans in Japan
Thailand-based Thai Luxe Enterprises receives regulatory approval for an investment of up to $24 million into a series of small-scale geothermal power projects in Japan.
In a release to the Thai Stock Exchange, Thai Luxe Enteprises has announced approval of a plan to invest into a geothermal power project in Japan.
The approval is for the purpose of the planned geothermal power plant to take advantage and benefit from the feed-in-tariff rate under the Japanese Ministry of Economy, Trade and Industry (METI) regulation by acquiring the business from Lena Power Station No 1. Limited Liability Company. The company was incorporated under the laws of Japan. The approval includes two geothermal power generating units with a combined capacity of 1,125 kW (1.1 MW).
The projects are located on Beppu, Oita prefecture. The total value of the acquired assets amounted to approximately Baht 786.32 million (Yen 2,700 million, or around $24 million) based on the exchange rates as of December 12, 2017.
The approved investments into 9 generation units is expected to be finalised in April 2018 and includes the following entities: PPSN Co.,Ltd. 3 units , SUMO Power Co.,Ltd. 1 unit and SNS Power Co.,Ltd. 1 unit. An additional 10 units are part of 5 companies: Fino Binary Power Plant Limited Liability Company , NIS Binary Power Plant Limited Liability Company , Beppu Tsurumi Onsen Geothermal Power Station No. 1 Liaison Company , Dual Energy Binary – Power Plant No.1 Limited Liability Company , Lena Power Station No.1 Limited Liability Company.
Source: Company release, Reuters