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Energy

Thai coal miner buys gas-fired power plant in US for $430m

Banpu accelerates green investment as part of strategy to deter from coal

BANGKOK -- Thailand's biggest coal miner Banpu has invested $430 million to acquire a 100% stake in a large-scale gas-fired power plant in the U.S., hurrying to move away from its main business, which has a large environmental impact, to a green business.

The company acquired the power plant in Texas from Temple Generation I and signed the contract on Aug. 10. The transaction is expected to be complete by the fourth quarter of 2021.

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