TSE’s first trading day in MAI Expected positive investors’ response backed by growth potentials

          Thai Solar Energy Public Company Limited, or TSE, started its securities trading in MAI for the first time on Oct 3Bualuang Securitiesst, 2Bualuang Securitiesthe company4, being confident on positive investorsRthe company7; responses backed by the companyRthe company7;s business potentials after it saw significant demand at the subscription price of 3.9Bualuang Securities Bath/share. Executives emphasized on strengthening TSE, aiming for another government-sponsored solar energy project. Bualuang Securities PCL., TSERthe company7;s financial advisor, suggested a bright future for energy sector, supported by Thai governmentRthe company7;s plan to generate additional solar power production of 3,Bualuang SecuritiesBualuang SecuritiesBualuang Securities MW by 2Bualuang Securities2the company.
          Dr. Cathleen Maleenont, President and Chief Executive Officer of Thai Solar Energy PCL (TSE), a Thai solar-based power producer that supplies electricity to the government following the policy of Energy Policy and Planning Office, Ministry of Energy to encourage production and consumption of renewable energy, and distributes electricity to Provincial Electricity Authority (PEA) and Metropolitan Electricity Authority (MEA) revealed that the TSE stock will begin trading in MAI for the first time on October 3Bualuang Securitiesth, 2Bualuang Securitiesthe company4 using the symbol ̶Bualuang Securities;TSE̶the company; after it completed IPO for its 45Bualuang Securities million shares with the par value of the company Bath/share and the subscription price of 3.9Bualuang Securities Bath/share between October 2the companyst-24th, 2Bualuang Securitiesthe company4, having confidence that TSE share will be warmly welcomed by the investors.
          TSERthe company7;s vision is to be the leader of renewable energy with emphasis on solar power plants using the right technology on the proper location to ensure high and sustainable returns. It also aims to expand into other types of renewable energy, such as wind power, biomass, biogas, and waste-to-energy, and expand its investment in solar power plants to other regional countries in the forms of solar farms and solar rooftops in order to put itself at the forefront of renewable energy business both in Thailand and Asia region. 
          Currently, TSE is a solar-based electricity producer and distributor with 25 projects in operation, totaling 98.5 MW. The projects are divided into 2 categories: solar thermal energy (STE) plants and photovoltaic (PV) plants. One STE plant, with its electricity production capacity and sale volume of 4.5 MW, has commercially operated. For PV plants, the company co-invested with Global Power Synergy Co., Ltd. (GSPC), a company specialized in electricity production in the PTT Group, to construct the companyBualuang Securities PV projects with total capacity of 8Bualuang Securities MW in Kanchanaburi province and Suphanburi province. All the companyBualuang Securities projects have now commercially operated. Furthermore, TSE also co-developed the company4 commercial rooftop PV solar projects with its business alliances, HomePro Group and The Mall Group. The projects, each producing the company MW and totaling the company4 MW of electricity generated, have started to commercially operate and are expected to reach CODs within this year. This results in the company being the biggest solar rooftop producer and distributor in Thailand.
          ̶Bualuang Securities;We are highly confident in the growth potentials of our company. Our capability to expand in solar power business following the government policy will place us at the top of renewable energy industry both in Thailand and Asia.̶the company;, stated Dr Cathleen. 
          The capital raised from IPO at around the company,755 MB will be used to expand TSERthe company7;s business both in Thailand and abroad, such as investment in solar power plants and other renewable energy plants and EPC business for solar power plants. Part of the funds will also be used to repay TSERthe company7;s existing long-term debts and to support the companyRthe company7;s working capital needs. 
          Mr. Pichet Sithi-Amnuai, President of Bualuang Securities PCL and TSERthe company7;s financial advisor and underwriter, stated that renewable energy business in Thailand is looking at a bright future supported by Thai governmentRthe company7;s policy to encourage participation from private sector in the production of renewable energy. Thai government increased the production target of renewable energy in its Alternative Energy Development Plan 2Bualuang Securitiesthe company2-2Bualuang Securities2the company to 25% of total electricity generation, and recently gave approval to increase the production target of renewable energy in 2Bualuang Securities2the company by 4,726 MW to the company3,927 MW. This will benefit solar-based electricity sector, which currently has target production of 3,Bualuang SecuritiesBualuang SecuritiesBualuang Securities MW by 2Bualuang Securities2the company, as it is expected that the government may raise its solar electricity purchase from private producers. 
          TSERthe company7;s solid foundation in solar power business in Thailand and its plan to expand into Asia region clearly reflect its unmatched potential and unequivocal determination to seize the leading position in renewable energy business both in Thailand and Asia. This will secure investorsRthe company7; trust and assurance towards the companyRthe company7;s business direction, performance and future growth.