Company's History
January
- Installed one additional RDF boiler at WHPP-40MW to be jointly operated with its current boilers in order to increase the amount of steam generated and to maintain the plant’s utilization rate in case the amount of steam derived from the waste heat fired-boiler decreases due to the suspension of TPIPL’s cement production operations from time to time.
- Entered into an EPC agreement to improve the efficiency of operations when recovering waste heat from TPIPL’s cement production process at WHPP-30MW. This improvement will increase the plant’s utilization rate and is expected to be completed by the second quarter of 2017.
- The Company received a letter from the Energy Regulatory Commission which resolved to extend the time period for the execution of the power purchase agreement in respect of RDFPP-100MW, whereby the Company shall execute a power purchase agreement with EGAT by September 7, 2017. Furthermore, on February 21, 2017, EGAT issued a letter to the Company acknowledging the Energy Regulatory Commission’s resolution and notifying the Company to execute the power purchase agreement by September 7, 2017.
March
- The Company has made the initial public offering of 2,500,000 ordinary shares at the offering price of Baht 7 per share, the total offering value is Baht 17,500 million, during March 22-29, 2017.
April
- The ordinary shares of the Company were first traded in the Stock Exchange of Thailand on April 5, 2017.
- The Company established TPI Polene Power Investment Company Limited, the registered company in Combodia, with registered capital of USD 125,000 . The company held shares of 49% whereas the partner in Combodia held shares of 51%, with an objective to study potential investment opportunity in power plant business in Combodia.
- The Company received a letter from the Office of Natural Resources and Environmental Policy and Planning notifying that the meeting of Expert Committee considering the applicant for Environmental Impact Assessment report, passed a resolution to approve the Environmental Impact Assessment report (EIA) for 40 MW Coal/RDF-fired Power Plant (TG 7) of the Company.
May
- The Company announced the interim dividend payment of the operating performance up to the first quarter 1/2017 at Baht 0.10 per share.
July
- The Company received a letter from the Office of Natural Resources and Environmental Policy and Planning notifying that the meeting of Expert Committee considering the applicant for Environmental Impact Assessment report, passed a resolution to approve the Environmental Impact Assessment report (EIA) for 70 MW RDF-fired Power Plant (TG 6) of the Company.
- The Company purchased 510 shares of TPI Polene Power Investment Company Limited (“TPIPPI”) from the partner in Combodia, representing 51% of registered and paid-up capital of TPIPPI. After the purchase of the abovementioned shares, the Company held 1,000 shares or 100% of the registered and paid-up capital of TPIPPI.
August
- The Company signed a non-firm 90 MW Power Purchase Agreement, with the Electricity Generating authority of Thailand (“EGAT”) on August 17, 2017 with the Scheduled Commercial Operation Date (SCOD) on October 2, 2017.
- The Company announced the interim dividend payment of the operating performance up to the second quarter 2/2017 at Baht 0.10 per share.
September
- The Company received a letter from the Office of Natural Resources and Environmental Policy and Planning notifying that the meeting of Expert Committee considering the applicant for Environmental Impact Assessment report, passed a resolution to approve the Environmental and Health Impact Assessment report (EHIA) for 150 MW Coal-fired Power Plant (TG 8) of the Company.
December
- The test run of the Coal-RDF-PP-70MW is completed. It is expected to start commercial operations and began to sell power to TPIPL by Q1 2018.
- The Company announced the interim dividend payment of the operating performance up to the third quarter of the year 2017 at Baht 0.06 per share.
January
- Disposed of the Company’s remaining holding of 163,540 shares in TPIPL to eliminate cross-shareholding in TPIPL.
- Entered into an EPC agreement for the construction of Coal-RDF-PP-70MW.
- Started the expansion of the Company’s RDF production capacity from 2,000 tons per day to 3,000 tons per day.
- Commenced the operations of WHPP-30MW and began selling power from WHPP-30MW to TPIPL.
February
Started the construction of Coal-PP-150MW.
September
Entered into an EPC agreement for the installation of two additional RDF boilers to be used as a back-up boilers for RDFPP-60MW and RDFPP-70MW, for when the boilers of these power plants undergo maintenance and to allow the power plants to run at their full production capacity. The installation of the additional boilers is expected to be completed by the first quarter of 2018.
December
Installed one additional RDF boiler at RDFPP-20MW to be jointly operated with its current boilers to increase the amount of steam generated and to maintain the plant’s utilization rate in case the amount of steam decreases due to the suspension of TPIPL’s cement production operations from time to time or due to the scheduled maintenance of the RDF boilers.
January
- RDFPP-20MW became commercially operational and began to sell power to EGAT.
- In connection with the commencement of commercial operations of RDFPP-20MW to sell power to EGAT, the Company transferred one of the then three 20 MW power generation units of WHPP-40MW to RDFPP-20MW. As a result, the installed power generation capacity of WHPP-40MW decreased from 60 MW to 40 MW.
- Entered into an engineering, procurement and construction (“EPC”) agreement for the construction of RDFPP-70MW.
July
Started the construction of RDFPP-70MW.
August
- RDFPP-60MW became commercially operational and began to sell power to EGAT.
- Entered into an EPC agreement for the construction of Coal-PP-150MW.
- Commenced the installation work for adding RDF boilers to WHPP-40MW. WHPP-40MW is expected to have the capabilities to generate power from burning RDF by July 2016, in addition to its existing waste heat recovery power generation capabilities.
September
• Underwent the Corporate Reorganization by disposing assets and equity interests of companies that do not engage in the Company’s main businesses.
December
- Disposed of the assets, rights, benefits and obligations in connection with the Petroleum Concession.
- Disposed of the Company’s 200 million shares in TPIPL to eliminate cross-shareholding in TPIPL.
November
- Entered into a power purchase agreement to sell a contracted power generation capacity of 18 MW from RDFPP-20MW to EGAT (the “RDFPP-20MW PPA”).
- Received a binding acceptance letter from EGAT for the sale of 90 MW of power generation capacity from RDFPP-100MW to EGAT.
November
Entered into a power purchase agreement to sell a contracted power generation capacity of 55 MW from RDFPP-60MW to EGAT (the “RDFPP-60MW PPA”).
January
Commenced operations of the Company’s RDF production facilities.
January
Expanded into the business of operating gas stations by adding gas service capacity to one of the Company’s existing petrol stations.
June
Commenced the operations of WHPP-40MW and began selling power to TPIPL.WHPP-40MW initially consisted of two power generation units each with an installed power generation capacity of 20MW, totaling 40MW.
August
Expanded the installed power generation capacity of WHPP-40MW to 60 MW by adding a 20MW power generation unit.
December
- Added gas service capacity to two other existing petrol stations.
- Constructed one gas station.
June
Expanded into the business of operating petrol stations by acquiring 11 petrol stations from IRPC Public Company Limited.
December
Entered into a power purchase agreement to sell power generated from WHPP-40MW to TPIPL (the “WHPP-40MW PPA”)
June
Renamed to TPI Polene Power Co., Ltd., with an objective to carry out power generation operations as the principal business.
November
Established as TPI Nylon Co., Ltd. by the Leophairatana family.