THANATHIP & PARTNERS

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Power, Energy and Natural Resources

We have been heavily involved in a number of power and renewable energy projects (e.g. solar, solar roof, wind, biomass, waste and etc.) in Thailand, PRC, Korea, Japan, Laos and other countries in South East Asia countries. Our involvements allow us to gain experience and expertise in this industry as part of our M&A, financing and fund raising via debts and equity both within and outside of Thailand, IPO and listing, PPAs and other contract negotiations, due diligence and other commercial discussions.

Notable transactions include:

M&A

  • Amalgamation between Banpu Infinergy and Banpu Renewable Energy to rationalize and group all clean energy technology businesses, affiliates and investments of Banpu Group

  • Disposition of the entire equity interest in Maesod Clean Energy Company Limited by Thaioil Ethanol

  • Acquisition by Banpu Power (BPP) of an entire equity interest in Thai Solar Consultant Company Limited

  • Acquisition by IFEC Group of a number of very small power producer projects (VSPP) concerning solar and wind farm in Buengkan, Chonburi, Kalasin, Khon Kaen, Lampang, Lopburi, Nakhon Si Thamarat, Nong Khai, Prachuapkhirikhan, Surin and Udonthani

  • Acquisition by PSTC of approximately 51% equity interest in Biggas Technology

Capital Markets

  • IPO and listing SAAM Development

  • Issue and offering by Banpu of Baht 10,000,000,000 Bonds in Thailand due 2029

  • Issue and offering by Banpu of US$50,000,000 5.25% Bonds in Thailand due 2028

  • Issue and offering by IFEC of Baht 3,000 million Bonds in Thailand

  • IPO and listing of BPP, believed to be the then largest IPO since 2014 and the largest market capitalisation since 2004

  • Rights offering of shares and warrants of Baht 12.85 billion by Banpu

  • Rights offerings of Baht 11 billion by BPP

  • Rights offerings of shares and warrants and a private placement by Power Solution Technologies (PSTC)

  • Acquisition by PSTC of approximately 51% equity interest 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

  • Issue and offering by Bangchak Petroleum of 80 million NVDRs

  • Issue and offering by Banpu and The Cogeneration Public Company Limited (CoCo) of Euro Convertible Bonds in 1990s

  • IPO and listing of CoCo

Others

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

  • Proposed acquisition by Metro Pacific Group of a company which is a concessionaire of a desalination project in the south of Thailand

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

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

  • Business Cooperation between Navanakorn Electric, Navanakorn Land and Toyo-Thai Corporation Public Company Limited for a development of the Power Plant Project near Navanakorn Industrial Estate

  • Advising Banpu on its coal supply agreement