Bangchak Petroleum to invest 20 million baht in renewable energy projects

Bangchak Petroleum Plc, Thailand’s majority state-owned oil refiner and retailer said it expects its earnings from renewable energy before interest, tax, depreciation and amortization (EBITDA) to reach 30% in the next six years, from 12% last year. The Bangkok Post reported that President Anusorn Sangnimnuan said that the company’s plan for a big, long-term investment in renewable energy will amount to 20 million baht (US$649,350.67) from 2012-17 and includes solar farms and ethanol and biodiesel production. A total of 15.4 billion baht (US$500 million) will be spent on solar farms, while the remaining 4.6 billion baht (US$149.3 million) will be used for new projects, mergers and acquisitions involving the production of ethanol and biodiesel. Renewable energy accounted for 6% of Bangchak’s EBITDA in 2011. (February 9, 2012)