Banpu Infinergy acquires 45% stake in Singapore battery firm

Corporate March 13, 2018 12:29

By The Nation

Solar energy specialist Banpu Infinergy, a subsidiary of Banpu, has invested in energy storage systems in Singapore, acquiring 44.84-per-cent stake in New Resources Technology (NRT).

The transaction is valued at Bt1.038 million.

The company on Tuesday called it a first step in preparing for future expansion in the energy-storage system business.

NRT, a specialist in the design, manufacture and integration of lithium-ion batteries for automotive and energy storage system, was founded more than eight years ago. 

Its plant in China has production capacity of 80 megawatt-hours and there are plans to expand into Japan, India, Southeast Asia and Europe.

Banpu Infinergy and NRT will together provide customers with high-quality technologies and equipment.