SET-listed BCPG, the power generation arm of the energy conglomerate Bangchak Corporation, is continuing to grow its business in Taiwan by developing two new solar farms, in line with the government's renewable energy acceleration policy.
The company is carrying out the development projects through its investment in two Taiwanese firms.
"Taiwan is a high-potential renewable energy market with a systematic energy transition plan," said Rawee Boonsinsukh, the newly appointed president and chief executive of BCPG.
The company acquired all the shares of Xiao Zhi Co, the developer of the substation and transmission system, and all the shares of Wang Heng Co, an energy company.
Xiao Zhi secured a leasehold right for the development of an 83-megawatt solar power project. Construction is expected to start in the fourth quarter of this year.
Wang Heng holds a leasehold right to develop a 25MW solar power project, scheduled to start construction in the first quarter of 2026.
The projects have a combined electricity generation capacity of 108MW, reinforcing BCPG as a major accelerator of the transition towards sustainable and reliable power in Asia, said Mr Rawee.
BCPG declined to elaborate on the cost of the asset acquisitions.
"The investment in Taiwan is a significant move by BCPG and aligns with its long-term vision as a green energy leader in Asia," he said.
In 2022, the BCPG board of directors approved a 6-billion-baht budget for the development of solar power projects in Taiwan, with an installed capacity of 357MW.
The approval brings the company's Taiwanese renewable energy projects in the pipeline to 469MW in capacity.
In Asia-Pacific, BCPG is pushing ahead with renewable energy development as well as its natural gas business.
The company operates businesses in many countries, including Thailand, Laos, Vietnam, the Philippines, Taiwan and the US.
BCPG's total power generation capacity tallies 2,053.4MW.