Industry Sectors

We have been heavily involved in a number of infrastructure, power and renewable energy projects (e.g. solar, solar roof, wind, biomass, and waste) in Thailand, the PRC, Korea, Japan, Laos, and other countries in Southeast Asia. Our involvement has allowed us to gain experience and expertise in this industry as part of our M&A, financing and fundraising via debt and equity, IPO listings, PPAs and other contract negotiations, due diligence and other commercial discussions, both within and outside of Thailand.

Notable transactions include:

M&A

• Advised Solar United Network, the largest renewable energy laboratory in Indonesia and a leading solar energy project developer throughout Asia Pacific, on its investment in ION Energy Corporation, the first solar company and a leading innovator in Thailand’s solar industry


• Advised Clover Power in connection with its acquisition of an entire interest in Siam Pallet Power, the operator of a natural gas-fired cogeneration power plant in Saraburi province


• Advised Metro Pacific Tollways Corporation, the largest toll road developer and operator in the Philippines, on its divestment in Don Muang Tollway, an elevated toll road operator in Thailand


• Advised Eastern Power in the acquisition of two of its power plants by Univentures and B.Grimm


• Advised on the amalgamation between Banpu Infinergy and Banpu Renewable Energy to rationalise and group all clean energy technology businesses, affiliates and investments of Banpu Group


• Advised on the disposition of Maesod Clean Energy by Thaioil Ethanol


• Advised on the acquisition by Banpu Power (BPP) of Thai Solar Consultant


• Advised on the acquisition by IFEC group of a number of very small power producer projects (VSPP) concerning solar and wind farms throughout Thailand, including Buengkan, Chonburi, Kalasin, Khon Kaen, Lampang, Lopburi, Nakhon Si Thammarat, Nong Khai, Prachuapkhirikhan, Surin and Udon Thani


• Advised Power Solution Technologies (PSTC) on the acquisition in Biggas Technology and the issue and offering of its new shares by way of a private placement for the purpose of funding the acquisition.

Capital Markets

• IPO and listing of Clover Power, a company engaging in renewable energy business around the globe


• Advised on the IPO and listing of Clover Power, a company engaging globally in the renewable energy business


• Advised on the rights offerings of shares and warrants of THB 29.6 billion by Banpu


• Advised on the IPO and listing of SAAM Energy Development


• Advised on the issue and offering by Banpu of THB 10 billion bonds in Thailand due 2029


• Advised on the issue and offering by Banpu of USD50 million 5.25% bonds in Thailand due 2028


• Advised on the issue and offering by IFEC of THB 3 billion bonds in Thailand


• Advised Banpu Power on its IPO and listing, which at the time was the largest IPO since 2014 and the largest market capitalisation since 2004


• Advised on the rights offerings and warrants of THB 12.85 billion by Banpu


• Advised on the rights offerings of THB 11 billion by Banpu Power


• Advised on the rights offerings of shares and warrants and a private placement by Power Solution Technologies (PSTC)


• Advised Power Solution Technologies (PSTC) on the acquisition in Biggas Technology and the issue and offering of its new shares by way of private placement


• Advised on the issue and offering by Bangchak Petroleum of 80 million NVDRs


• Advised on the issue and offering by Banpu and The Cogeneration of Euro Convertible Bonds in the 1990's


• Advised on the IPO and listing of The Cogeneration

Others

• Advised Tradewater in connection with its destruction of refrigerant confiscated by the Customs Department of Thailand


• Advised Symbior in connection with its entry into PPAs and other commercial contracts with leading companies in Thailand, including the Thai Union Group


• Advised Metro Pacific Group on the proposed acquisition of a company that is a concessionaire of a desalination project in the south of Thailand


• Advised Betagro in relation to its solar rooftop power projects and power purchase agreements for its 24 industrial sites with Total Solar (Thailand), and other general commercial contracts


• Advised on the investment by IFEC in various projects, including the expansion of its renewable energy business into South East Asia market through a collaboration with Noringo Group of China and an entry into a memorandum of understanding with the Phnom Penh Municipality, to study and explore the development of waste management and the corresponding electricity generation in Phnom Penh


• Business Cooperation amongst Navanakorn Electric, Navanakorn Land and Toyo-Thai Corporation for the development of the Power Plant Project near Navanakorn Industrial Estate


• Advised Banpu on its coal supply agreement