Thai company BCPG is investing in a wind power project in the country by acquiring a 40-percent stake in Petro Wind Energy Inc. (PWEI).
In a statement, BCPG President Bundit Sapianchai said the company bought shares from the CapAsia Asean Infrastructure Fund.
PWEI owns a 36-megawatt (MW) wind power project in Nabas, Western Visayas. A 14 MW wind power project is also underway.
The acquisition is part of the company’s planned expansion into the renewable energy business in addition to its solar power projects.
PWEI is a renewable energy company under PetroGreen Energy Corporation, EEI Corporation of the Yuchengco Group of Companies, and CAIF III.
BCPG is one of Thailand’s largest independent solar power producers and is aiming to secure 1 gigawatt (GW) or 1, 000 MW of renewable energy by 2020.
*Photo from Shutterstock
