Mr. Somprasong Panjalak, Chairman of the Board of Directors and Chief Executive Officer of PRIME ROAD POWER Public Company Limited or PRIME, one of a leading solar power and renewable energy developer in Thailand and the Asia Pacific revealed that in September, PRIME had PRIME239A bonds with a term of 2 years (16 Sep. 2021 - 16 Sep. 20230 with the interest rate 5%. Currently, PRIME repaid the full amount of bond. In August, PRIME issued THB 200-million bond and received a very good response from institutional investors. and high-net-worth individuals.
Mr. Piroon Shinawatra, Chief Financial Officer, informed that as of the 2nd quarter of 2023, PRIME had a better operating result with the total revenue of THB559.2 million, an increase of 188.1% compared to the 1st quarter of the same year. Total income for the first 6 months was THB 1,019.2 million, while net profit for the second quarter increased by THB59.7 million, an increase of 76.8% compared to the 1st quarter of the same year. The net profit for the first 6 months was THB93.11 million. PRIME has a target production capacity of 1,800 MW., or a growth of approximately 6 times from the current production capacity of 307 MW. The target is to grow to cover various countries in Asia, including Indonesia. and the Philippines. The factors for selecting the countries to invest in are based on the government's policy to support clean energy, the increasing demand for electricity, and the secondary market for buying and selling solar power plants.
For the progress of 2 large-scale Power Plant Projects in Taiwan, namely a ground-mounted Solar Power Plant Project in Miaoli County, with the capacity of 200 MW. Currently, PRIME already leased the land and on the process of applying for an establishment license. The project will start to construct within Oct., 2024 and will be completed within the 4th quarter of 2025. Another project, the Budai Outdoor Fishfarm Solar Power Plant Project in Chiayi City, with the capacity of 99 megawatts. Currently it is on the process of applying for an establishment license and other related licenses. The construction will start in Apr., 2025.
PRIME will join "SET Opportunity Day Performance of Quarter 2, 2023" organized by the Stock Exchange of Thailand on Tuesday 26 Sep., 2023, 15:15 pm - 16:00 pm. present the company's financial results for the financial of the 2nd quarter of 2023 and the rest of the year. Investors, shareholders and bondholders of PRIME can follow, watch or ask for information. via live broadcast and viewing retrospectively via www.set.or.th/oppday, SET Application, YouTube, and Facebook SET Opportunity Day.
Source : PRIME