BAFS Surges 3% after Acquiring 7 Solar Farms, Expecting to Book ฿120Mn of Revenue in 2021

The share price of Bangkok Aviation Fuel Services PCL. (BAFS) rose ฿0.75/share or 2.80%to ฿27.50/share as of 12:26 local time in Thailand, with a trading value of 27 million baht, following the acquisition of 7 solar power plants.

BAFS Clean Energy Corporation Company Limited, a subsidiary of BAFS, stated that the company on March 1, 2021, has signed a share purchase agreement with PDI Energy Company Limited, a subsidiary of Padaeng Industry Public Company Limited (PDI) for 7 power plants with a total capacity of 36.4MW worth 1,704.67 million baht.

The deal will result in more than 120 million baht of revenue recognition for BAFS.