PTG Energy acquires stake in Thai waste management firm

PTG Energy Public Company Limited, a company listed in the Stock Exchange of Thailand, announced on February 7th its acquisition of a 33.33% stake in Thai Paiboon Equipment (TPB) to expand in renewable energy and waste management. The transaction was worth BHT400 million (USD11.1 million).

The investment supports PTG Energy’s five-year plan to grow its non-oil businesses for sustainable expansion. Specifically, it aims to develop refuse-derived fuel (RDF) production capabilities.

“TPB is a leading waste and RDF company that can replace fuels contributing to climate change,” said PTG President Pitak Ratchakitprakarn. He added it also enables community and environmental benefits.

Founded more than 20 years ago, TPB provides waste collection, separation, landfill management and RDF fuel production and distribution services. It generates annual net profit of more than BHT100 million (USD2.7 million) on revenues of BHT800 million (USD22.3 million).

TPB Managing Director Paiboon Kumkham said, “We share a vision with PTG Energy around circular waste solutions benefiting society.” The expertise and resources of both companies can drive impactful progress, he added.

PTG Energy operates power businesses in Thailand as well as interests in oil, gas and other sectors. It is increasing investments in renewable energy, storage and waste management as part of its strategic expansion.