Thai oil firm eyeing geothermal investment in Malaysia and Indonesia

Bangkok skyline, Thailand (source: flickr/ Matthew, creative commons)
Alexander Richter 9 Sep 2015

Renewable energy arm of Thailand-based Bangchak Petroleum is looking to invest into a geothermal project in Malaysia and possibly in Indonesia as well, following an IPO.

In news on Thailand-based oil refinery Bangchak Petroleum PLC (BCP) it is reported that the company plans to list its renewable power generation arm BCPG Co Ltd on the Thai stock exchange next year by offering 30 per cent of the company’s registered capital in the initial public offering (IPO). This might in itself not be very interesting in the context of geothermal, but in the release there is also a note on international acquisitions including the investment of a 30% stake into a 30 MW geothermal power project in Malaysia.

But it seems the company is also interested in geothermal projects in Indonesia, so BCP president Chaiwat Kovavisarach.

“Post IPO, the proceeds will be used to expand its business. The firm is targeting boosting power generation to 500 MW by 2020 and it intends to take the acquisition route both in local and overseas markets to achieve the same.”

Source: Deal Street Asia