News

On 26th September 2017, Sermsang Power Corporation Public Company Limited (SSP) trades for the first time in Market for Alternative Investment. SSP’s Initial public offering (IPO) is at 7.70 baht per share and at one point was trading as much as 30% of its IPO price. With 276,375,000 ordinary shares issued, SSP has raised more than two billion baht. SSP will use the fresh fund to invest in its existing portfolio and deleverage through by paying back bank loans.

Mr. Varut Tummavaranukub, Chief Executive Officer of SSP revealed that the company are in the process of investing in eight outstanding projects with contracted capacity of 98 MW (installed capacity of 122.4 MW) in various stages of development.

There are four projects under construction stage, namely:

• Project Hidaka is a 17-MW (installed capacity of 21 MW) solar farm based on Feed-In-Tariff (FIT) of 40 yens for 20 years in Hokkaido, Japan. Commercial operation date (COD) is expected by the first quarter of 2018.
• Project Yamaga is a-30 MW (installed capacity of 34.5 MW) solar farm based on FIT of 36 yens for 20 years in Kumamoto, Japan. COD is expected by the second quarter of 2020.
• Project SNNP 1 is a solar rooftop project with a contracted capacity of 384 kW under a private power purchase agreement (PPPA) based on an addition of market electricity rate and Ft for 25 years in Samutsakorn, Thailand. COD is expected by the fourth quarter of 2017.
• Project SNNP 2 is a solar rooftop project with a contracted capacity of 998 kW under PPPA based on an addition of market electricity rate and Ft for 25 years in Ratchaburi, Thailand. COD is expected by the fourth quarter of 2017

There are three projects under development stage, namely:

• Project WVO Solar is a 5-MW solar farm with The War Veterans Organization of Thailand Under Royal Pain Thailand under Feed-in-Tariff of 4.12 baht per kwh for 25 years in Ratchaburi, Thailand. COD is expected by the four quarter of 2018.
• Project Zouen is a 6-MW (installed capacity of 8 MW) solar farm based on FIT of 36 yens for 20 years in Kumamoto, Japan. COD is expected by the fourth quarter of 2018.
• Project LEO is a 30-MW (installed capacity of 40 MW) solar farm based on FIT of 36 yens for 20 years in Shizuoka, Japan. COD is expected by the second quarter of 2020.

There is one project under early development stage. Project Yamaga 2 is a 10-MW (installed capacity of 13 MW) solar farm based on FIT of 36 yens for 20 years in Kumamoto, Japan. COD is expected by the second quarter of 2020.