Banpu Infinergy Co., Ltd’s $33 Million investment in New Resources Technology Pte. Ltd.

Hunton & Williams, Drew & Napier LLC and Morgan Lewis Stamford advised on the deal

Banpu Infinergy Co., Ltd., a subsidiary of Banpu Public Company Limited (SET:BANPU) engaging as one-stop provider of total solar energy solutions, executed its investment through its subsidiary BPIN Investment Co., Ltd., in New Resources Technology Pte. Ltd. (NRT) for a 44.84% equity interest worth SGD 45.10 million (equivalent to approximately US$ 33.20 million or THB 1.04 billion). The transaction was completed and the disclosure to the Stock Exchange of Thailand was issued on March 7, 2018.

NRT is a Singapore holding company specializing in researching, designing, manufacturing and integrating Lithium-Ion Battery (LiB) for automotive industry and Energy Storage Systems (ESS). NRT has an operating battery-manufacturing factory in China with capacity of 80 MWh and further expansion plans in future to serve existing and new customers in markets spanning from China, ASEAN, Europe, Japan and India.

As Banpu is a traditionally coal-mining and power producer in Thailand and internationally, this new investment marks its first major step into the advanced energy technology of LiB and EES business, which has been identified as a new business platform, aiming to achieve Banpu’s strategy of being an integrated energy company.

Hunton & Williams advised advised with a team including Chumbhot Plangtrakul (Picture), Christopher B. Huong, Jitranut Narkmai, Manuel E. Maisog, Min Yang and Judy Li.

Involved fees earner: Manuel Maisog – Hunton & Williams LLP; Min Yang – Hunton & Williams LLP; Chumbhot Plangtrakul – Hunton & Williams LLP; Judy Li – Hunton & Williams LLP; Christopher Huong – Hunton & Williams LLP;

Law Firms: Hunton & Williams LLP;

Clients: Banpu Infinergy Co., Ltd.;


Author: Michael Patrini