an_super_2020_en

ANNUAL REPORT

2020

ร า ย ง า น ป ร ะ จ ำ ป‚ 2 5 6 3

SOLAR WATER

WASTE

WIND

IT

Message from Chief Executive Officer

The renewable energy power plant business is still an

interesting business although the recent growth of this business has

slowed down to some extent. As a result, many operators expand

their investments in neighboring countries, especially in ASEAN

countries. Super is one of many companies investing in ASEAN

countries, especially in Vietnam, where electricity consumption rate is

growing continuously. In addition, Southeast Asia is also one of the

world's highest growing demand for electricity consumption. There is

a tendency to focus on the process of electricity generation from

renewable energy, especially solar, wind, and hydro energy. The

renewable energy market in the region is expected to be more

developed systematically in terms of management and increasing

application which is in line with the main direction of energy in the

future. Thailand is also one of the countries which targets the nation's

electricity generation to use more renewable energy for the total energy consumption in the country by increasingly

promoting the participation of communities in the project development. This can be seen from the community waste

thermal power plant project, solar rooftop project, Private PPA project, etc. Regarding the future trends, the Company

foresees that the growth in the renewable energy business will be driven by the growth in the form of New Demand and

Replace Demand, where the growth in the form of Replace Demand will be the huge growth in line with the global

energy direction. Therefore, SUPER realizes opportunities to grow in this business for the next 3-5 years for

investments in Thailand and Vietnam, including other ASEAN countries that will seriously turn their attention to

renewable energy. The growth rate from now on will continue every year. However, there are still some risks from

overseas investment in these countries, depending on the clarity of the promotion policy from the government sector of

such countries.

Operating Results in 2020

Unit: Million Baht Year 2020 Year 2019 Year 2018

Balance Sheet

Total Assets 73,160.31 55,669.43 49,649.96

Total Liabilities 52,537.23 36,811.27 32,094.91

Total Shareholders' Equity 20,623.08 18,858.16 17,555.05

Income Statement

Operating Income 6,514.61 6,245.58 5,729.40

Foreign exchange gain (Loss) 225.79 (88.87) 12.21

Profit (Loss) on investments in associated companies 76.72 91.73 84.10

Profit on disposal of assets into the Fund - 1,289.92 -

Other revenues 253.74 130.35 48.59

Unit: Million Baht Year 2020 Year 2019 Year 2018
Profit (Loss) for the year 1,274.20
1,527.79 2,374.41

In 2020, the Company invested in 4 solar power projects with a capacity of 600 MW in addition to the existing
5 projects with a capacity of 236.72 MW in 2019. At the end of the year 2020, SUPER had 9 commercially operated
solar power plant projects with a total capacity of 836.72 MW and wind power plant projects with a capacity of 421 MW
were under construction. In addition, there was the commercial operation of the municipal solid waste-based thermal
power plant with a capacity of 9 MW. As a result, the Company recognized the total revenue of 6,514.16 million Baht,
increased by 269.03 million Baht from the previous year or accounting for 4.31%. However, such revenue does not
reflect the 550-MW solar power plant project which SUPER has just launched the COD at the end of the year 2020.
Meanwhile, the total costs also increase in line with the increasing revenue recognition. The gross profit and the net
profit of SUPER Group were at 50.82% and 23.45%, respectively. According to the success of investments in Vietnam
over the past few years, it is a vital part of the Company to generate cash flow continuously and create confidence
among investors and executives without any doubt on the exact revenue recognition. Moreover, application for loan
support for Project Finance from financial institutions has also been well accepted, causing the overall business to be
stronger. The success of investment in overseas project development is also a credit rating indicator of the Company.
At the end of the year 2020, it was at the BBB Stable level, which was regarded as the investment grade of investors
and interested parties.

For the year 2021, it is mainly the investment in Thailand and Vietnam by focusing on the development of the
421-MW wind power plant project in Vietnam which are under construction with the scheduled COD by the year 2021.
In addition, the Company has the chance to participate in the bid of additional projects for solar power plant projects
and wind power plant projects with the supporting measures for expanding electricity generating capacity to meet the
rapidly increasing demand in Vietnam. In addition, in Thailand, there are waste projects under development in Nong
Khai, Nonthaburi, Phetchaburi, and Nakhon Si Thammarat. This year, there are the high probability of developing one
hybrid project with a capacity of 16 MW which the Company won the bid and a power purchase agreement will be
signed in March, including the investments in Private PPA projects with the private sector. The company aims to
generate the total revenue of 10,000 million Baht in 2021 under the projects being developed by the Company,
excluding those will arise from new investments. In 2021, the Company's investment has recently grown rapidly,
causing the debt level to increase based on the increasing revenues. As a result, the Company focuses on the liquidity
management of its Group along with investments in new prospect projects.

However, the Company continues paying attention to the investment in concession businesses, especially
basic public utility business, in order to reduce the risk from external factors affecting its operations. Nevertheless, it
mainly depends on the policy direction from the government sector. The Company aims to be a company that is
committed to developing, investing, and operating its business under the good and fair management for all
stakeholders by adhering to the principles of accuracy and fairness as well as being an organization promoting the
overall economy and becoming an important part of building the nation's energy security.

-Signature-

Mr. Jormsup Lochaya
Chief Executive Officer

Summary of Significant Financial Information

1In 2019, the Company recognized profit from the transfer of the right to recognize net income for the
establishment of an infrastructure fund amounting to 1,289.92 million Baht (Profit before tax).

Part 1
Business Operations

Vision The Company has a vision to become a national and
ASEAN regional leader in the business of power
วสิ ัยทศั น์ generation from renewable energy in the categories of
solar energy, waste energy and wind energy.

Mission 1. Meet the government policy on the development of electric
power systems from renewable energy for energy
พนั ธกจิ sustainability.

2. Invest and expand the power generation capacity from
renewable energy by using modern and effecient
technologies

3. Create sustainable benefits and values for society and
stakeholders in all sectors under good governance principles

Target SUPER has a policy to provide renewable energy power plant operations and
maintenance services for companies in which the Company holds shares directly and
เป้าหมาย indirectly. Furthermore, SUPER operates the business by holding shares in subsidiaries
and/or joint ventures engaged in the business of generating and distributing electricity from
renewable energy, water production and distribution for consumption, the information and
communication technology business. SUPER’s main policy is to continually expand
investments in renewable energy power plants by prioritizing proper and effective work in
every step ranging from land procurement, applications for licenses and electricity generation
procedures in order to meet needs and enable the Company to have secure long-term
income while having low risk in business operations in addition to improving personnel
knowledge, capabilities, consideration of environmental impacts and support for society for
the Company’s sustainable growth in the future.

The Company is confident in the Company’s readiness and success from experience
gained by operating in the solar energy power plant business. The Company is committed to
continue expanding the business to grow with sustainability along with promoting energy and
environment conservation along with building corporate social responsibility according to
principles of good governance.

1. Policy and Overview of Business Operations continually to include waste energy power plants. The
Company expanded investments in domestic and
Super Energy Corporation (Public) Company overseas power plant projects.
Limited ("the Company" or "SUPER"), formerly known as
Super Block (Public) Company Limited, was founded on In the area of foreign investments, SUPER
December 20, 1994. Later, on 9 May 2018, the Company began investing in Vietnam since 2018 and
registered to change names to Super Energy Corporation commercially operates a total of nine solar energy
(Public) Company Limited in accordance with the power plant projects with a capacity of 836.72 MW.
resolution of Shareholders’ Meeting No. 1/2561 on 25 April Currently, SUPER has expanded to invest in wind
2018. energy power plants and the Company has plans to
continually expand investments abroad.
SUPER has policy to provide operations and
maintenance services for renewable energy power plants In addition to renewable energy business
such as solar energy, waste energy, and wind energy operations, SUPER has expanded the business in
power plants operated by companies in which the other areas including the water distribution business
Company directly and indirectly holds shares. The and the information and communication technology
Company focuses on monitoring power plant operations business The Company manages as a holding
and maintaining machines and equipment to be in ready company with shares in subsidiaries and/or joint
for effective use in order to enable the aforementioned ventures.
power plants to generate and distribute electricity at full
capacity. In addition, the Company also provides
consulting services relating to renewable energy power
plant businesses.

SUPER has grown to become an operator in the
solar energy electricity generation business. The Company
first invested in renewable energy projects in 2013 and
later expanded investments in power plant projects

Solar Energy Super Water Co., Ltd., which is engaged in the
Power Plants business of distributing water, tap water and industrial
water in the areas of Phuket, Chonburi and
Waste Energy SUPER Wind Energy Samutsakorn.
Power Plants Power Plants
(HOLDING COMPANY) Holding shares in multiple domestic and
foreign companies in the main business group
Water Information and engaged in generation and distribution of electricity
Distribution Communication from renewable energy such as solar energy, wind
energy and waste energycaused the Company to
Technology have past performance and main income in the
consolidated financial income to be income from
Furthermore, the Company has policy to operating a total of 100 domestic solar energy power
operate in the business of operating and maintaining plants and 9 foreign projects. The Company had a
power plants in the Company’s group and/or other total investment value in companies operating the
companies in the future. The Company has the main business of no less than 51% to enable the
objective to expand the scope of business to the Company to properly control operations.
construction contracting and renewable energy power
plant processing business in the future. Moreover, Super Energy Corporation PCL
subsidiaries under the Company have policy to
operate in the business of generating and distributing Super Earth Energy Co., Ltd. Super Energy Group Co., Ltd.
electricity from renewable energy power plants and
connected businesses in the country and abroad. Super Water Co., Ltd. Super Solar Energy Co.,
Currently, the Company has expanded investments in Open Technology Co., Ltd. Ltd.
domestic and overseas electricity projects, beginning
with solar energy power plant expansions in Vietnam Super Wind Energy
for a total of nine projects which began commercial Co., Ltd.
operations with a capacity of 836.72 MW. The
Company has plans to continually expand investments However, the resolution from Board of
abroad to seek interesting investment opportunities Directors’ Meeting No. 6/2562 on 13 November 2019
with appropriate returns. considered and approved WRP Energy Co., Ltd. to be
a subsidiary operating in the Company’s business (the
In addition, the Company has expanded Core Company) by considering net profit in the
investments in other public utility businesses such as reviewed financial statement of Quarter 3/2019. WRP
the water production and distribution business for Energy Co., Ltd. is a company operating in the
industrial sectors, the Provincial Waterworks Authority business of generating and distributing electricity from
and the household sector. The Company invested in a 48-megawatt solar energy power plant. The
Company has management authority and holds 100

percent of shares for consistency with criteria in
maintaining status of a listed holding company
pursuant to Stock Exchange of Thailand regulations.

1 . 1 The Solar Energy Power Plant
Operation and Maintenance Service Business

This business is operated by Super Energy 1.2 Electricity Generation and Distribution from Solar
Corporation, which offers solar energy power plant Energy Power Plants
operation and maintenance services, substation and
transmission cable management, etc., directlyly and 1.2.1 Solar Energy Power Plants in Thailand
indirectly for projects of subsidiaries in which SUPER This business is operated by subsidiaries
holds shares after the aforementioned power plant
projects begin commercial operations in order to uner Super Solar Energy Co., Ltd. to invest in and
maintain power plant machinery and equipment in develop the business of electricity generation and
addition to managing power plants to enable distribution from solar energy power plants and
generation at full efficiency. connected businesses. Solar energypower plant
projects of the Company’s group use equipment that
The business of providing renewable energy meet standards and have warranty with consideration
power plant operation and maintenance services grew given to investment efficiency and cost-efficiency in
with the renewable energy generation and distribution order to be able to operate projects for the full project
business whether if it is from solar, waste or wind contract duration of 25 years in electricity purchase
energy and connected businesses. Growth is
consistent with domestic demand for electricity, which
is rising annually.

contracts made with the Electricity Generating 2. A total of 2 projects in the 6.50-baht adder

Authority of Thailand/the Metropolitan Electricity system with a total generation capacity of 5.95

Authority/the Provincial Electricity Authority. megawatts.

Currently, the Company has 100 domestic solar 3. A total of 88 projects in the 5.66-baht Fit system

energy power plant projects with a total capacity of 563.60 with a total generation capacity of 7 megawatts.
megawatts. The Company’s domestic solar energy power 4. Projects in the 4.12-baht Fit system.
plant projects have begun commercial operations and

consist of:

1. A total of 4 projects in the 8.00-baht adder

system with a total generation capacity of 7

megawatts.

A total of 6 projects with a generation capacity of 28 megawatts.

Descriptions of Solar Energy Power Plant Projects in Thailand under the Management of the Company’s Group

No. Name of Company/Project Number of Type of Equipment Power Purchase Commercial Contract
Projects/ (solar panels)/ Purchaser Rate Operation Date Expiration
Megawatts (inverters)
Date

1 Root Sun Co., Ltd./Projects 1, 2 projects/ Poly Crystalline / PEA - 8.00 1 JUL 2011 30 JUN 2021

2 2.0 megawatts String Inverter Korat

Project 3 1 project/ Poly Crystalline / PEA - 8.00 3 MAY 2012 2 MAY 2022

1.0 megawatts String Inverter Korat

2 Pro Solar One Co., 1 project/ Poly Crystalline / PEA 8.00 8 FEB 2013 30 NOV 2021

Ltd./Project 1 4.0 megawatts Central Inverter

3 Green Bio Mahasarakam Co., 1 project / Thin Film / PEA 6.5 8 FEB 2013 7 FEB 2023

Ltd./Project 1 0.952 Central Inverter

megawatts

4 PT Drive (Thailand) Co., 1 project / Poly Crystalline, PEA 6.5 10 OCT 2014 9 OCT 2024

Ltd./Project 1 5.0 megawatts Thin Film / Central

Inverter

5 Media Mark Co., Ltd./Wang 1 project / Poly Crystalline / PEA 5.66 3 DEC 2015 2 DEC 2040

Lum 5.90 Central Inverter

megawatts

Don Plub 1 project / Poly Crystalline / PEA 5.66 21 DEC 2015 20 DEC 2040

5.90 Central Inverter

megawatts

Nong Khaem 1 project / Poly Crystalline / PEA 5.66 30 DEC 2015 29 DEC 2040

5.90 Central Inverter

megawatts

Hansai 1 project / Poly Crystalline / PEA 5.66 23 APR 2016 30 DEC 2040

5.90 Central Inverter

No. Name of Company/Project Number of Type of Equipment Power Purchase Commercial Contract
Projects/ (solar panels)/ Purchaser Rate Operation Date Expiration
Megawatts (inverters)
Date
megawatts

6 SPP Six Co., Ltd./Khok 1 project / Poly crystalline / EGAT 5.66 30 DEC 2015 26 JAN 2040

Samrong 41.0 Central Inverter

megawatts

7 STFE Solar Co., Ltd./Yang 1 project / Poly Crystalline, PEA 5.66 29 JAN 2016 28 DEC 2040

Nam Klut Tai 8.0 megawatts Thin Film / Central

Inverter

8 Energy Serve Co., Ltd./Nong 3 projects / Poly Crystalline / PEA 5.66 26 FEB 2016 30 DEC 2040

Prong 2, 6 and 9 17.85 Central Inverter

megawatts

Nong Prong 1, 3, 4, 5, 7, 8 7 projects / Poly Crystalline / PEA 5.66 26 APR 2016 30 DEC 2040

and 10 43.7 Central Inverter

megawatts

31 DEC 2040

9 Electrica Asia Power Co., 1 project / Poly Crystalline / PEA 5.66 27 APR 2016
4.12 27 DEC 2018 26 DEC 2043
Ltd./Kalong 8.0 megawatts Central Inverter 5.66 23 APR 2016 30 DEC 2040
5.66 28 APR 2016 30 DEC 2040
War Veterans’ Organization 1 project / Poly Crystalline / MEA -
5.377 10 JUN 2016 30 DEC 2040
of Thailand 5.0 megawatts String Inverter Minburi
5.66 28 APR 2016 30 DEC 2040
10 North Solar Power Co., 2 projects / Poly Crystalline / PEA
5.66 18 DEC 2015 17 DEC 2040
Ltd./Hansai 1 and Hansai 2 8.0 megawatts Central Inverter 5.66 28 APR 2016 30 DEC 2040
4.12 24 DEC 2018 23 DEC 2043
11 Power Technology 8 projects / Poly Crystalline, PEA 5.66 29 APR 2016 30 DEC 2040

International Co., Ltd./Bor 49.65 Thin Film /

Nok, Hansai 1-7 megawatts Central Inverter

Khlong Poon 1 project / Poly Crystalline / PEA

5.95 Central Inverter

megawatts

12 Amarnuve Co., Ltd./Khlong 5 projects / Poly crystalline / PEA

Hin Poon, Khok Sanan, 30.0 Central Inverter

Suanpa, Wang Mai 1 and megawatts

Wang Mai 2

13 Apollo Solar Co., Ltd./Wang 1 project / Poly Crystalline / PEA

Muang 1.8 megawatts String Inverter

Wang Nam Yen 1 project / Poly crystalline / PEA

3.6 megawatts Central Inverter

14 KPT Green Co., Ltd./Muang 1 project / Poly Crystalline / PEA

Chaiyaphum 4.0 megawatts Central Inverter

15 Northeast Future Energy Co., 1 project / Poly crystalline / PEA

Ltd./Muang Fai 6.0 megawatts Central Inverter

No. Name of Company/Project Number of Type of Equipment Power Purchase Commercial Contract
Projects/ (solar panels)/ Purchaser Rate Operation Date Expiration
Megawatts (inverters)
Date

16 WRP Energy Co., Ltd./Sala 8 projects / Poly crystalline / PEA 5.66 29 APR 2016 30 DEC 2040

Lamduan 1-8 48.0 Central Inverter

megawatts

17 S2P Energy Co., Ltd./Khok Pi 6 projects / Poly crystalline / PEA 5.66 29 APR 2016 30 DEC 2040

Kong 1-6 36.0 Central Inverter

megawatts

18 Sri Naka Power Co., 6 projects / Poly Crystalline / PEA 5.66 29 APR 2016 30 DEC 2040

Ltd./Hansai 1-6 36.0 Central Inverter

megawatts

19 Solkit Solar Co., Ltd./Hansai 1 project / Poly crystalline / PEA 5.66 29 APR 2016 30 DEC 2040
PEA 5.66 30 APR 2016 30 DEC 2040
6.0 megawatts Central Inverter

20 Equator Solar Co., Ltd./Khao 2 projects / Poly crystalline /

Yai 1-2 10.0 Central Inverter

megawatts

Khao Yai 5 1 project / Poly crystalline / PEA 5.66 30 APR 2016 30 DEC 2040
PEA 5.66 30 APR 2016 30 DEC 2040
5.0 megawatts Central Inverter

Khao Yai 8-15 8 projects / Poly crystalline /

40.0 Central Inverter

megawatts

Khao Yai 3-4 2 projects / Poly crystalline / PEA 5.377 10 APR 2016 30 DEC 2040

10.0 Central Inverter

megawatts

Khao Yai 6-7 2 projects / Poly crystalline / PEA 5.377 10 APR 2016 30 DEC 2040

10.0 Central Inverter

megawatts

21 Tangsaeyiang Greenpower 1 project / Poly Crystalline / PEA 5.66 30 APR 2016 30 DEC 2040

One Co., Ltd./Phraek Nam 4.0 megawatts String Inverter

Dang

22 WXA 4 Co., Ltd./Kui Nua 1 1 project / Poly crystalline / PEA 5.66 30 APR 2016 30 DEC 2040

5.95 Central Inverter

megawatts

23 WXA 5 Co., Ltd./Kui Nua 2 1 project / Poly crystalline / PEA 5.66 30 APR 2016 30 DEC 2040

5.95 Central Inverter

megawatts

24 WXA 6 Co., Ltd./Kui Nua 3 1 project / Poly crystalline / PEA 5.66 30 APR 2016 30 DEC 2040

5.95 Central Inverter

megawatts

25 WXA 7 Co., Ltd./Kui Nua 4 1 project / Poly crystalline / PEA 5.66 30 APR 2016 30 DEC 2040

5.95 Central Inverter

megawatts

No. Name of Company/Project Number of Type of Equipment Power Purchase Commercial Contract
Projects/ (solar panels)/ Purchaser Rate Operation Date Expiration
Megawatts (inverters)
Date

26 IQ Solar Co., Ltd./Potharam 1 project / Poly Crystalline / PEA 5.66 26 DEC 2016 25 DEC 2041
PEA 5.377 24 NOV 2017 30 DEC 2041
Sugarcane Plantation 2.0 megawatts Central Inverter PEA 27 DEC 2016 26 DEC 2041
PEA 6.5 27 DEC 2016 26 DEC 2041
Krathumban 1 project / Poly Crystalline / PEA 5.66 28 DEC 2016 27 DEC 2041
PEA 5.66 6 MAR 2017 30 DEC 2041
5.0 megawatts Central Inverter PEA 5.66 28 DEC 2016 27 JAN 2041
PEA 5.66 28 DEC 2016 27 JAN 2041
27 AIQ Energy Co., Ltd./BAAC 1 project / Poly Crystalline / PEA 5.66 29 DEC 2016 28 DEC 2041
PEA 5.66 28 DEC 2016 29 DEC 2041
Saraburi 1.0 megawatts Central Inverter MEA-เขต 5.66 28 DEC 2016 27 JAN 2041
บางพลี 5.66 24 DEC 2018 23 DEC 2043
28 IQ Energy Co., Ltd./Nakhon 1 project / Poly Crystalline / PEA 4.12 26 DEC 2018 23 DEC 2043
PEA 4.12 24 DEC 2018 23 DEC 2043
Chai Sri 5.0 megawatts Central Inverter PEA 4.12

Bang Prahan 1 project / Poly Crystalline /

5.0 megawatts Central Inverter

Suppanimit Aranyaprathet 1 project / Poly Crystalline /

5.0 megawatts Central Inverter

29 Asta Power Co., Ltd./Ban 1 project / Poly Crystalline /

Beung 5.0 megawatts Central Inverter

Phanom Sarakam 1 project / Poly Crystalline /

4.5 megawatts Central Inverter

Bang Len 1 project / Poly Crystalline /

4.2 megawatts Central Inverter

Aranyaprathet 1 project / Poly Crystalline /

5.0 megawatts Central Inverter

30 IQ Green Co., Ltd./Bang Bor 1 project / Poly Crystalline /

5.0 megawatts String Inverter

31 Thai Green Co., LTd./Suan 1 project / Poly Crystalline /

Yang Ban Din Na 5.0 megawatts Central Inverter

Noan Sang 1 project / Poly Crystalline /

4.0 megawatts Central Inverter

32 Super Solar Energy Co., 1 project / Poly Crystalline /

Ltd./Pararubber Producer in 5.0 megawatts Central Inverter

Suratthani

33 IQ Good Co., 1 project / Poly Crystalline / PEA 4.12 27 DEC 2018 23 DEC 2043
100 projects with 563.60 megawatts
Ltd./Beekeepers of Phrae 5.0 megawatts Central Inverter

Total

Remarks: In 2019, the Company created the Super Energy Power Plant Infrastructure Fund by transferring rights to net income from
electricity distribution in power purchase agreements under 17 Aunyawee Holding Co., Ltd. (17AYH) and Health Planet Management
(Thailand) Co., Ltd. (HPM) in a total of 19 projects with 118 megawatts on 14 August 2019. Performance of the aforementioned two
companies is not included in the Company’s consolidated financial statement from the date of the transaction. However, the Fund hired
SUPER to manage the aforementioned power plants under related service contracts.

1.2.2 Solar Energy Power Plants in Vietnam

In 2020, the Company invested further in a
total of four solar energy power plant projects in
Vietnam that have reached the commercial operation
date. The projects consisted of:

1 . The Thinh Long Project with an installed
capacity of 50 megawatts. Super Solar Energy (Hong
Kong) 3, a subsidiary of the Company, purchased 100
percent of shares in Thinh Long Phuyen Solar Power
JSC (TLPY).

2. Three additional Lok Ninh Projects with an
installed capacity of 550 megawatts. Investment in
these power plant projects brought the number of the
Company’s projects which reached the commercial
operation date in Vietnam to nine projects with a total
generation capacity of 839.72 megawatts. This will
help strengthen the Company, improve the Company’s
capacity to compete in business and continually
generate income for the Company in the future.

Descriptions of Solar Energy Power Plant Projects in Vietnam

No. Name of Number Type of Power Purchase Rate Commercial Contract
Company/Project of Equipment Purchas
1. Phan Lam (solar panels)/ Operation Date Expiration Date
2. Binh An Nam Viet Phan Lam Projects/ (inverters) er
Co.,Ltd. Megawat
Poly Crystalline / EVN 9.35 25 JUN 2019 24 JUN 2039
EverichBinhThuan ts Central Inverter UScents/kWh
Energy LLC Poly Crystalline /
36.72 Central Inverter EVN 9.35 25 JUN 2019 24 JUN 2039
MWp UScents/kWh

50.00
MWp

3. Sinenergy Sinenergy NinhThuan 50.00 Poly Crystalline / EVN 9.35 24 DEC 2020 23 DEC 2039
NinhThuan Power LLC MWp Central Inverter UScents/kWh

4. Van Giao1 Van Giao Solar Power 50.00 Poly Crystalline / EVN 9.35 26 JUN 2019 25 JUN 2039

Plant JSC MWp Central Inverter UScents/kWh

5. Van Giao2 Van Giao Solar Energy 50.00 Poly Crystalline / EVN 9.35 26 JUN 2019 25 JUN 2039

Plant JSC MWp Central Inverter UScents/kWh

6. Thinh Long Thinh Long Phu Yen 50.00 Poly Crystalline / EVN 9.35 30 JUN 2019 29 JUN 2039

Solar Power JSC MWp Central Inverter UScents/kWh

7. Loc Ninh1 Loc Ninh1 Energy Joint 200.00 Mono Crystalline / EVN 7.09 31 DEC 2020 30 DEC 2040

Stock Company MWp Central Inverter UScents/kWh

8. Loc Ninh2 Loc Ninh2 Energy Joint 200.00 Mono Crystalline / EVN 7.09 31 DEC 2020 30 DEC 2040

Stock Company MWp Central Inverter UScents/kWh

9. Loc Ninh3 Loc Ninh3 Energy Joint 150.00 Mono Crystalline / EVN 7.09 31 DEC 2020 30 DEC 2040

Stock Company MWp Central Inverter UScents/kWh

Total 9 projects with 836.72 megawatts.

Photographs of Solar Energy Power Plant Projects in
Vietnam

Phan Lam with a Generation Capacity of 36.72 MW

Van Giao 1 with a Generation Capacity of 50.00 MW

Binh An with a Generation Capacity of 50.00 MW

Van Giao 2 with a Generation Capacity of 50.00 MW

Loc Ninh 2 with a Generation Capacity of 200.00 MW

Thinh Long with a Generation Capacity of 50.00 MW

Loc Ninh 3 with a Generation Capacity of 150.00 MW

Loc Ninh 1 with a Generation Capacity of 200.00 MW

1.3 Electricity Generation and Distribution from Waste energy power plant business will play a greater role
Energy Power Plants and help to increase income in this business for the
Company in the future.

This business is operated by subsidiaries Description of Waste Energy Power Plant Projects
under Super Earth Energy Co., Ltd. to invest in and under the Management of the Company’s Group
develop the waste energy generation and distribution
power plant business and connected businesses. No. Green Power Super Earth Energy 6
Currently, two of the aforementioned power plant Energy/Sa Kaeo Co., Ltd./Pichit
projects have begun commercial operations with a No. of Projects/
capacity of 18 megawatts in Sa Kaeo and in Pichit. In Megawatts 1 project/ 1 โครงการ /
addition, the community waste energy power plant Technology Type 9.0 megawatts 9.0 เมกะวัตต์
project in Nong Khai with a generation capacity of 8.0 Circulating Fluidized - ระบบ Step Grate /
m egawatts is under construction. Furthermore, three Commercial Bed (CFB) System
more proejcts are in the process of preparations in Operation Date Stoker
Nonthaburi, Phetchburi and Nakhon Sri Thammarat. Contract Expiration
Date 14 June 2016 30 April 2021
Waste energy power plant projects will play a
greater role in the energy industry due to efforts to Power Price Contract is Contract is
solve waste problems by managing waste to use Automatically Automatically
waste in electricity generation. The Company sees Reviewed Every 5 Reviewed Every 5
and recognizes the importance of involvement in
pushing for waste energy power plant projects by Years Years
investing and developing connected business such as
by investing in land (waste pits), investing in waste Adder: 3.50 baht/unit Adder: 3.50 baht/unit
sorting plant projects to produce RDF, investing in raw for 7 years for 7 years
material production and counting technology and
investing in waste energy power plant construction
projects, etc. In the past, the Company studied and
prepared for investments in the aforementioned
business. The Company believes that the waste

1.4 Electricity Generation and Distribution from Wind Due to the Company’s continued operations and
Energy Power Plants business expansions since the Company entered the
renewable energy business, the Company is
The Company holds shares through Super Wind committed to improving operation capacity to compete
Energy Company Limited (“SWE”) in order to invest in and and lead in the aforementioned business to generate
develop the business of generating and distributing and distribute electricity from renewable energy power
electricity from wind energy power plants and related plants. In the Company’s past operations, the
businesses. After the Company studied project capacity Company placed importance on electricity generation
and feasibility for a period and saw capacity for investment and distribution with security and stability through use
in wind power projects in Vietnam, the Company has of modern and environmentally-friendly technologyfor
begun construction of 4 projects divided into offshore wind the electricity authorities of each country in which the
power projects with an electricity sale volume of 1 7 1 Company invested in compliance with long-term
megawatts and onshore wind power projects with an power purchase agreements. The Company is able to
electricity sale volume of 250 megawatts. Offshore projects continually guarantee security in electricity
are located in Soc Trang Province with a capacity of 3 0 distribution. The Company’s operations also
megawatts and 141 megawatts in Bac Lieu Province. The significantly push for energy security necessary for
projects will extend into the sea for 5 0 0 meters or more. national economic development. Furthermore, the
Construction is ongoing and commercial operation is company has a policy to invest in companies with the
expected to begin by 2021. One onshore project is located same business objectives or businesses that support
in Gia Lai Province with a capacity of 50 megawatts. The the Company’s operations and help the Company
EPC contract has been signed and construction is in have good performance with more coverage in this
progress. Another project is located in Phu Yen Province business.
with a capacity of 200 megawatts and EPC contract
signing is pending with commercial operations expected to
begin by 2021 or early 2022.

Therefore, the goal in 2022 is for the
Company to be able to acknowledge income from
commercial operations in wind energy projects with a
total capacity of 421 megawatts. This investment in
wind energy power plants will strengthen the
Company, improve the Company’s capacity to
compete in business and generate future income for
the Company in line with current increases in energy
demand in Vietnam. This is an expansion of the
Company’s investments abroad, which will be granted
privileges for investments in the renewable energy
business from the Vietnamese government such as tax
privileges and capital access privileges.

Wind Energy Power Plant Projects in Vietnam

Project Names Soc Trang Bac Lieu
Companies
Super Wind CongLy Super Wind CongLy
SocTrang Joint Stock Bac Lieu Joint
Stock Company
Company

Volume of Electricity 30 MW 141 MW
Sales in Contracts
Project Locations Soc Trang Province Bac Lieu Province Vietnam
EVN EVN
Power Purchasers ➢ Gia Lai 50 MW
30 November 2018 18 January 2019 ➢ Phu Yen 200 MW
PPA 9.8 UScents/kWh 9.8 UScents/kWh
➢ Soc Trang 50 MW
Electricity Purchase 20 Years After COD 20 Years After COD ➢ Phu Yen 200 MW
Rates

PPA Durations

Scheduled CODs Q4 of 2021 Q4 of 2021

Project Names HBRE-Phu Yen HBRE-Gia Lai

Companies HBRE Phu Yen JSC HBRE Gia Lai JSC

Volume of Electricity 200 MW 50 MW
Sales in Contracts
Phu Yen Province Gia Lai Province
Project Locations

Power Purchasers EVN EVN

PPA In process In process

Power Purchase Rate 8.5 UScents/kWh 8.5 UScents/kWh

PPA Durations 20 Years After COD 20 Years After COD

Scheduled COD Quarter 4 of 2021 or Quarter 4 of 2021
Quarter 1 of 2022

Overall Commercial Performance of Renewable Remarks:
Energy Power Plants in the Company’s Group 1. On 14 August 2019, the Company transferred and

Start of Commercial Project Megawatts Accrued sold rights to net income of 19 projects with a total generation
Operation Date Megawatts capacity of 118 megawatts to SUPEREIF.
(SCOD)
2 . On 6 January 2020, the Board of Directors’
Domestic Solar Power Plant Projects meeting decided for SSE to sell all common shares in Infinite
Alternative Co., Ltd. (IAE), which holds 100 percent of shares in
2011 3 6.00 6.00 Rang Ngern Solutions Co., Ltd. to Gunkul PCL or 33.0 percent of
registered capital and paid-up capital, causing Rang Ngern
2012 1 1.00 7.00 Solutions Co., Ltd. to lose status as a joint venture of SSE in 11
projects with a generation capacity of 87.00 megawatts as of 6
2013 1 0.95 7.95 January 2020.

2014 1 5.00 12.95 In the area of operating status of power
plants in which the Company invested and begun
2015 20 175.50 188.45 commercial operations, the Company invested and
began commercial operations in 111 projects with a
2016 96 542.15 730.60 total generation capacity of 1,418.32 megawatts.
2017 2 10.00 740.60 These power plants can create immediate and long-
term performance for the Company. Furthermore,
2018 6 28.00 768.60 some power plant projects are under construction and
these portions will promote income growth for the
2019 (19) 1 (118) 1 563.60 Company in the future.
(11) 1 (87) 2
In 2020, the Company showed success from
2020 -- - investing developing renewable energy power plant
projects, particularly investment and development of
Total 100 563.60 solar energy power plants in Vietnam. Commercial
operations began in all nine projects with a total
Overseas Solar Power Plant Projects generation capacity of 836.72 megawatts, which
confirmed success from investment in the
2019 53 236.723 236.72 aforementioned business. However, the Company
remains committed to creating growth in every year in
2020 4 600.00 836.72 order for the Company to achieve the objective to
become a leader in the renewable energy power plant
Total 9 836.72 business.
109 1,400.32
Total Solar Power
Plant Projects

Thermal Power Plant Projects (Waste)

2018 1 9.00 9.00
9.00
2020 1 9.00
2 18.00
Total Waste Energy
Power Plant Projects 111 1,418.32

รวมทงั้ หมดที่ COD
แล้ว Total Projects
That Reached COD

Figure of Commercial Operations of Renewable The first phase is for 171 megawatts and the second
Energy Power Plants of the Company’s Group as of 15 phase is for 250 megawatts, a total of 421 megawatts.
January 2021 This will support strong income and profit for the
Company in the future.
Remarks:
1. In 2019, the Company transferred and sold rights Furthermore, the Company has a goal to
expand the business to include CLMV countries,
to acknowledge net income of 19 projects with a total generation which are an important large market. However, foreign
capacity of 118 megawatts to SUPEREIF. investments need caution in the area of laws and tax
2. In 2020, the Board of Directors’ meeting decided for SSE to privileges. In addition, the projects that the Company
sell all common shares in Infinite Alternative Co., Ltd. (IAE), will invest in must be able to generate good returns
which holds 100 percent of shares in Rang Ngern Solutions Co., and create extra cash flow for the Company.
Ltd. to Gunkul PCL or 33.0 percent of registered capital and
paid-up capital, causing Rang Ngern Solutions Co., Ltd. (RNS) 1 . 5 Information & Communication Technology
to lose status as a joint venture of SSE in 11 projects with a Business
generation capacity of 87.00 megawatts.
This business is operated by Open
Most investment expansions and project Technology Public Co., Ltd., which does system
developments in the past year were solar energy development and planning work, computer equipment
power plant investment and development projects and and information system maintenance service,
wind energy power plant projects in Vietnam. In this arranges for personnel to provide one-stop services
year, the Company focused on continued operations and provide business management and consultation
in wind energy power plant projects. The Company is services.
prepared and began construction according to plans.
The Company’s business operations focus
on a model that facilitates consistency with the needs
of each customer group as a main factor from product
and work system selection. The Company distributes
reputatble technology through distributors/partners in

order to provide technology products suitable for use Projects Minimum Agreement Price per
and business characteristics of various customer Volume of Water Duration Unit
groups such as financial institutions, industry groups, Sales in Water
the government sector and state enterprises in order (THB/M3)
to maximize benefit for customer organizations and Purchase
businesses. The Company prioritizes provision of Agreement
management services by providing personnel
outsourcing services at points desired by customers. 1. Chai Mongkol 13,000 cubic 30 5.50-
The Company’s expert engineer teams will work with TAO meters/day 16.00
customer engineer teams as one team for flexibility
and the highest efficiency under conditions of service 2. Amata Water 5 cubic 25 7.2
level agreements. Furthermore, the Company provides meters/day
on-demand services such as computer maintenance
services when equipment or systems malfunction. 3. Chalod Point 1, 3,000 cubic 5 11.35

Another part of OPEN’s business operations Phuket meters/day
is to provide common property management and
maintenance services for residential buildings and 4. Chalod Point 2, 2,400 cubic 5 12
office buildings as condominium juristic persons.
Phuket meters/day
1.6 Water Production and Distribution Business
This business is operated by subsidiaries 5. Kathu Tawantok, 2,400 cubic 5 13

under Super Water Co., Ltd. (SW), which is engaged Phuket meters/day
in the business of producing and distributing tap
water, raw water and industrial water for industry 6. Kathu Tawan-ok, 2,400 cubic 5 11.5
operators in industrial estates and zones including the
household sector and the Provincial Waterworks Phuket meters/day
Authority. Products and services in the group consist
of: 7. Samnak Bok, 3,600 cubic 10 10.8

1.Raw water procurement and distribution. Chonburi meters/day
2.Industrial water production and distribution.
3.Tap water production and distribution. 8. Nong Bon Dang, 3,600 cubic 10 9.8

Currently, companies in the group provide Chonburi meters/day
water production and distribution services for the
following main entrepreneurs: 9. Patong, Phuket 6,100 cubic 5 12.48
meters/day

In the future, the Company plans to expand

water distribution areas to provinces with coverage of

the entire region to support growth of urban society,

households and entrepreneurs including one-stop

public utility services consisting of procurement,

production, management and distribution.

Development of projects to distribute water

for use and consumption begins by expanding water

distribution areas to regions. The Company distributes

water for industries in Samutsakorn Industrial Estate,

tap water to Chai Mongkol Tao in Samutsakorn and

raw water to the Provincial Waterworks Authority in

Phuket in order to meet annually rising water

consumption needs while considering quarter quality

to meet sandards. Implementation of Scada

technology to control water distribution in real-time

have minimized water loss and enabled consistent

water quality control. In addition, reverse osmosis Amata City Industrial Estate Project: Super Water PPS Co., Ltd.:
water production systems for industries are used at Tap Water Distribution for Amata City Industrial Estate
Samutsakorn Industrial Estate, making water quality (Chonburi)
higher than standards of the Provincial Waterworks
Authority and suitable for use in industries.

Chonburi Water Project (Nong Bon Dang Water Production
Station)

Samutsakorn Project, Thai Panichnawa Construction and
Langnumthai Joint Venture Co., Ltd.

Chonburi Water Project (Samnak Bok Water Production Station)

Amata City Industrial Estate Project, Super Water Co., Ltd.: Raw
Water Distribution for Amata City Industrial Estate (Chonburi)

Phuket Water Project (Chalong Water Production Station)

Phuket Water Project (Kathu Water Production Station)

Current Project Locations

Samutsakorn Chonburi (Amata City)
Cap: 29,000 cubic meters/day Cap: 10,000 cubic meters/day

(tap water)

Chonburi (Amata City)
Cap : 18,500 cubic

meters/day
(raw water)

Chonburi PWA
Cap: 14,400 cubic meters/day

Phuket PWA
Cap: 20,000 cubic meters/day

1.7 Future Investment Projects in compliance with the Thai government’s policy to
promote renewable energy in the past.
Over the past year, more Thai solar farm
power plant operators have expanded businesses The Company studied and prepared
abroad such as in China, Japan and Vietnam. The investment and development of renewable energy
main point of interest in the solar farm business is to power plant projects. Past investments in 9 solar cell
generate renewable energy by using free power plant projects in Vietnam with a total generation
inexhaustible resources without fuel costs like other capacity of 836.72 megawatts are considered
energy such as biomass power plants. In addition, successful, allowing the Company to learn, improve
investments in solar farms require less investment than and gain expertise in project management including
other types of power plans and have rapidly declining cost control management and in planning project
solar panel costs and reduced operation costs as construction to be in time for commercial operation
entrepreneurs’ experience increase. dates. Furthermore, selecting appropriate locations
and studying laws, regulations and limitations of
Furthermore, worldwide growth of the solar foreign countries is important.
energy business provided opportunities for Thai
investors to invest abroad with continually rising trends In the past year, investments in Vietnam
and the fastest growth among developing countries focused on solar energy power plant projects and
due to higher electricity demand projections and the succeeded according to goals with 9 solar energy
beginning of renewable energy use. This is an power plants created with a total generation capacity
opportunity for Thai investors with strong capital and of 836.72 megawatts. In 2021, regarding investments
experience from operating in the Thai solar business in Vietnam, the Company focuses on investments in 4
wind energy projects with a total generatioin capacity
of 421 megawatts, which are currently under
construction and are expected to reach COD in
Quarter 4 of this year.

Offshore Wind Power Plants -VIETNAM 141 MWp
Bac Lieu 30 MWp
Soc Trang
Onshore Wind Power Plants -VIETNAM 50 MWp
Gai Lai 200 MWp
Phu Yen

When investing in Vietnam, the Company
focuses on holding licensed shares and doing
construction and/or purchasing constructed projects.
The Company studies feasibility of projects and

limitations such as legal limitations, construction time development such as community waste energy power
limitations, tax privileges, the Company’s benefits and plant projects, namely, the community waste energy
investment cost-effectiveness, etc. Foreign power plant in Nong Khai with an installed generation
investments require thorough consideration of capacity of 8 megawatts, the community waste energy
potential risks from various factors and consideration power plant in Nonthaburi with an installed capacity of
of appropriate investment periods for projects to 20 megawatts and the community waste energy power
generate returns for the Company as quickly and cost- plant in Phetchburi with an installed capacity of 9
effectively as possible. megawatts, each of which will be developed
according to the Company’s plans, etc. The Company
Concerning domestic project investments monitors operations. In addition, when biddings are
and development, policies for promoting increased opened for electricity sale bids to be tendered, the
renewable energy use can be seen to be aimed at Company is ready to participate in operations.
increasing renewable energy purchases in order to
effectively procure sufficient electricity for future needs Furthermore, the Company sells electricity
along with reducing losses from importing energy from directly to customers in private PPAs. The Company’s
abroad. On this issue, the Company sees first ally is Eastern Water Resource Management and
opportunities to play the aforementioned role as a Development Public Company Limited or EASTW with
private sector electricity producer. The Company is a capacity of 33.24 megawatts. This private PPA is
interested in investing and developing renewable divided into two phases with 16.24 megawatts in
energy power plants, particularly solar energy, waste Phase 1 and 17 megawatts in Phase 2. Currently,
energy and wind energy power plants because the commercial operation began in one project with 100
Company has readiness in the areas of personnel, kilowatts and the Company is in the process of waiting
technology, capital and past experience from for area handover from East Water for further project
operating the Company’s power plant projects. development.

Furthermore, the Company seeks On 6 December 2019, Super Solar Energy
opportunities to expand new investments in other Co., Ltd., as a subsidiary of Super Energy Corporation
countries under the goal of generating 2,000 Public Company Limited and Charoen Pokphand
megawatts for commercial distribution in the next 1-3 Foods Public Company Limited (CPF), signed a
years to increase income along with distributing private power purchase agreement (private PPA) to
income ratios to have renewable energy in every sell electricity to Charoen Pokphand Foods Public
category. In particular, the Company seeks Company Limited by generating electricity from solar
opportunities to invest in CLMV countries with high panels installed on the ground in 16 pig farms with a
growth and annually rising demand for electricity and total installed generation capacity of 4.04 megawatts.
the Company has a goal to become a leader in the In addition, Super Solar Energy Co., Ltd. is studying
area of renewable energy in Asia. feasibility of adding farm projects in the entire pig
business by installing electricity generation systems in
However, the Company currently has all three phases.
projects in the process of investment and

1. Phase 1 has four projects with a total
installed generation capacity of 1.128
MWdc/0.95MWac with a contract duration of 15 years
from the commercial operation date. These projects
are complete.

2. Phase 2 has five projects with a total
installed generation capacity of 1.176
MWdc/0.95MWac with a contract duration of 15 years
from the commercial operation date. These projects
are in the processes of study and operation.

3. Phase 3 has seven projects with a total
installed generation capacity of 1.736
MWdc/1.40MWac with a contract duration of 15 years
from the commercial operation date. These projects
are in the processes of study and operation.

Projects in the Process of Development

No. Projects Megawatts Electricity Rates Locations COD Goals
Tha Kradan, Sanam
1 Solar Energy Power Plant Project 1.5 Fit 5.66 baht/unit Chai Khet, Construction is
Chacherngsao complete and COD is
(Sanam Chai Khet Cooperative) (25 years)
Noan, Muang, Nong expected to be in
2 Solar Energy Power Plant Project 6 Fit 5.08 baht/unit Khai 2021.

(from community waste) (20 years) Sa Kaeo Construction is in
progress and COD is
3 SPP Hybrid Firm Project 16 Fit 1.03+Fit V
expected to be in
2022.

31 DEC 2022

baht/unit

(20 years)

4 Solar Energy Power Plant Project 16 Fit 5.08 baht/unit Khlong Kwang, Sai The project is
Noi, Nonthaburi ongoing.
(from community waste) (20 years)

5 Solar Energy Power Plant Project 16 In the process of Muang, Nakhon Sri The project is
(from community waste)
submitting PPA Thammarat ongoing.
6 Solar Energy Power Plant Project
(from community waste) proposals.

7 Solar Energy Power Plant Project 8 Adder 3.50 baht/unit Huay Kwang, Ban The project is in the

Total (7 years) Lad, Phetchburi process of considering

work plans.

19.9 Fit 5.66 baht/unit Nong Prong, Khao The project is pending

(25 years) Yoi, Phetchburi PPA acceptance.

83.4

1.8 History of Changes and Key Developments May
Super Energy Corporation Public Company Resolutions from Board of Directors Meeting No. 2/2561
The meeting approved for Super Earth Energy Co.,
Ltd. was founded on 20 December 1994 under the Ltd. to enter into a transaction to acquire assets by
name of Super Block Co., Ltd. with support from the investing in Muangthainayu Co., Ltd., which allows
Board of Investment and a registered capital of 150 the Company to indirectly hold shares in
million baht. The Company was originally founded to Nongkhainayu Co., Ltd.
operate in the business of producing and distributing June
autoclaved aerated concrete. Later, the Company Resolutions from Board of Directors Meeting No. 4/2561
distributed assets used to operate the autoclaved The meeting approved the appointment of a new
aerated concrete business on 28 February 2013. On 9 subsidiary, Super Solar (Thailand).
May 2018, the Company registered to change the September
Company’s name to Super Energy Corporation Public Resolutions from Board of Directors Meeting No. 7/2561
Company Limited in compliance with a resolution of The meeting approved transactions concerning asset
Shareholder Meeting No. 1/2561 held on 25 April 2018 acquisition and distribution between 17 Aunyawee
in order to be consistent with business changes. The Holding Co., Ltd., Health Planet Management
Company turned the Company’s interest to the (Thailand) Co., Ltd. and the Intrastructure Mutual
renewable energy power plant business and the Fund.
Company restructured to be suitable for operating the October
renewable energy power plant business. The Resolutions from Board of Directors Meeting No. 9/2561
Company’s main offices are located at 223/61, 14th
Floor, Country Complex, Building A, Sanphawut Rd., The meeting approved creating a new subsidiary in
Bang Na Tai, Bang Na, Bangkok, 10260. Hong Kong to support solar energy generation
projects abroad.
History of changes and major developments
concerning shareholding structure and capital The meeting approved creating a new subsidiary in
gains/losses in the past three years have the following MHaojnorgDeKvoenlogpmteontssiunp2p0o1r9t wind energy generation
information: projects abroad.

Major Developments in 2018 The meeting approved creating a new domestic
subsidiary to support waste energy generation
February projects abroad. (SUPER-EARTH8)
Resolutions from Board of Directors Meeting No. 1/2561

Change of the Company’s name including the Company’s seals and
memorandum of association in parts concerning the Company’s
name was approved.

Increase and appointment of new company directors was
approved.

Debenture issuance and offer was approved.

Major Developments in 2019 August
Resolutions from Board of Directors Meeting No. 4/2562
February The meeting approved for Super Earth Energy Co.,
Resolutions from Board of Directors Meeting No. 1/2562 Ltd., a subsidiary of the Company, to enter
transactions to acquire assets by investing in
The meeting approved providing financial assistance in Muangthainayu Co., Ltd.
sponsor loan agreements with a balance of 2,025.9 million The meeting approved for Super Earth Energy Co.,
baht for Krung Thep Thanakom Co., Ltd. of Super Earth Ltd., a subsidiary of the Company, to enter
Energy 5 Co., Ltd. (SEE 5) and by signing sponsor loan transactions to acquire assets by investing in Apollo
agreements with financial institutes with a balance of Solar Co., Ltd.
2,025.9 million baht and Super Earth Energy 5 Co., Ltd. The meeting approved modifying shareholding
(SEE 5) structure in Super Speed Construction Co., Ltd., a
subsidiary of the Company.
The meeting approved for subsidiaries to sign share The meeting approved establishing Super Water PPS
purchase-sale agreements with companies that own two Co., Ltd. as a new subsidiary of the Company.
wind energy power plant projects in Vietnam with a total September
generation capacity of 250 megawatts. Resolutions from Board of Directors Meeting No. 5/2562
The meeting approved for Super Wind Energy Co., Ltd, a
The meeting approved for Super Earth Energy 8 Co., Ltd, subsidiary of the Company, to increase registered capital
a subsidiary of the Company, to increase registered and revise the Company’s memorandum of association in
capital and revise the Company’s memorandum of Item 5 (Capital).
association in Item 5 (Capital). November
Resolutions from Board of Directors Meeting No. 6/2562
May The meeting approved for WRP Energy Co., Ltd. to be
Resolutions from Board of Directors Meeting No. 2/2562 a subsidiary engaged in the Company’s (core
business) main business.
The meeting approved for Super Earth Energy Co., Ltd. to The meeting approved for the subsidiary in Vietnam
sell investments in common shares in Muangthainayu Co., to increase the Company’s registered capital.
Ltd. to Energy Republic Co., Ltd. December
The meeting approved for Super Energy Corporation
June Public Co., Ltd. and Super Solar Energy Co., Ltd. to
Resolutions from Board of Directors Meeting No. 3/2562 sign request documents, contract documents and
agreements with banks invest in renewable energy
The meeting approved investments in Super Water Co., power plant projects (Thinh Long Project) in Vietnam.
Ltd. and Thai Panichnawa Construction and Langnumthai
Joint Venture Co., Ltd.

Major Developments in 2020 March
Resolutions from Board of Directors Meeting No. 4/2563
January
Resolutions from Board of Directors Meeting No. 1/2563 The meeting approved investments in four solar energy
The meeting approved for Super Solar Energy Co., Ltd. power plant projects in Vietnam with an installed
(SSE) to enter into transactions to sell investments in IAE generation capacity of 750 megawatts consisting of the
common shares to Kunkul, causing Rang Ngern Solutions Loc Ninh 1 Project, the Loc Ninh 2 Project, the Loc Ninh 3
Co., Ltd. (RNS) to lose status as a joint venture company Project and the Loc Ninh 4 Project.
of SSE.
The meeting approved for Super Solar Energy Co., April
Ltd. (SSE) to make an agreement to purchase
derivative shares in Sri Naga Power Co., Ltd. (SNP). Super Solar (Thailand) Co., Ltd. (SST) signed the master
After entering into the transaction, SSE holds 100 investment agreement in the Loc Ninh 1-2-3 Projects with
percent of shares in SNP. an installed generation capacity of 550 megawatts.
The meeting approved for Super Solar Energy (Hong
Kong) 3 to purchase 100 percent of common shares Super Earth Energy Co., Ltd. reached the commercial
in Thing Long Phu Yen Solar Power Joint Stock operation date to distribute 9.0 megawatts of electricity to
Company. the Provincial Electricity Authority on 30 April 2020.
February
Resolutions from Board of Directors Meeting No. 2/2563 May
The meeting approved for Super Solar Energy (SSE)
to enter into an agreement to purchase shares in WXA Resolutions from Board of Directors Meeting No. 5/2563
4 Co., Ltd., WXA 5 Co., Ltd., WXA 6 Co., Ltd. and
WXA 7 Co., Ltd. (WXA4567). Thus, SSE holds 100 The meeting approved increases in registered capital of
percent of shares in WXA4567. subsidiaries and modifications to shareholding structures
The meeting approved Green Bio Mahasarakam Co., in subsidiaries as follows:
Ltd. (GBOM) by directing Super Solar Energy Co., 1 . SEE6 modified shareholding structure and increased
Ltd. to enter into an agreement to purchase shares in registered capital to 500 million baht.
PKT Green Co., Ltd. (PKTG), allowing GBOM to hold 2 . SEE modified shareholding structure and increased
100 percent of shares in PKTG. registered capital to 2,000 million baht.
Resolutions from Board of Directors Meeting No. 3/2563 3. SW modified shareholding structure and increased
The meeting approved for Super Water PPS Co., Ltd. registered capital to 500 million baht.
to increase registered capital by 34.0 million baht. 4. SWPPS modified shareholding structure and increased
registered capital to 88 million baht.
5. Pro-One modified shareholding structure.

August Major Developments in 2021
Resolutions from Board of Directors Meeting No. 6/2563
The meeting approved for Super Solar Energy Co., Ltd. (SSE) to February
purchase derivative shares in Solkit Solar Co., Ltd. Resolutions from Board of Directors Meeting No. 1-
The meeting approved establishing a new subsidiary in Hong 2564 on 25 February 2021
Kong named Super Energy (Hong Kong) Co., Ltd.: SE (Hong The meeting approved the following
Kong). appointments of the Chairman, the Vice
The meeting approved establishing a new subsidiary in Chairman and the Chief Executive Officer:
Singapore, Suer Energy (EAST) 1 PTE: SE-EAST1 to support 1 . The meeting appointed Mr. Kamtorn
overseas business expansions. Udomritthiruj as the Chairman to replace Mr.
The meeting approved modifying the shareholding Jormsup Lochaya
structure in Super Earth Energy Co., Ltd. 2. The meeting appointed Mr. Jormsup Lochaya
The meeting approved modifying the shareholding to be Vice Chairman of the Company in place of
structure in Super Wind Energy (Hong Kong) 1 (SWE- Mr. Kamtorn Udomritthiruj.
HK1). 3. The meeting appointed Mr. Jormsup Lochaya
The meeting approved modifying the shareholding to be the Chief Executive Officer
structure in Super Energy (East) Pte (SE-EAST). The meeting approved investments in one wind
The meeting approved for Green Power Energy Co., Ltd. energy power plant project with an installed
(GPE) to increase registered capital by 135.0 million baht. generation capacity of 50 megawatts by
November directing Super Wind Energy Co., Ltd. to
Resolutions from Board of Directors Meeting No. 7/2563 purchase shares in Asia Energy Company
The meeting approved for Super Energy Group Co., Ltd. Limited.
to sell 50.99 percent of investments in SWEC1 to Cong Ly The meeting approved to modify the
Construction-Commerce-Tourism Company Limited. shareholding structure in Lemon Gold Farm by
December changing from having shares held by SEG to
Three solar energy power plant projects in Vietnam SWE at the same ratio.
consisting of the Loc Ninh 1-3 Projects with a total March
generation capacity of 550 megawatts reached the Green Power Energy Co., Ltd. signed an
commercial operation date on 31 December 2020. agreement in a project for private sector
participation in investing in construction and
management of a waste disposal system with
Nakhon Sri Thammarat Municipality with a
generation capacity of 20 megawatts.

Summary of Major Developments in 2020

January April
Super Energy (Hong Kong) 3 On 30 April 2020, S
Co., Ltd. invested in the Thinh Energy 6 Co., L
Long Phu Yen Solar Energy commercial distribut
Power Plant Project in Vietnam megawatts of electric
with an installed generation community waste en
capacity of 50 megawatts. The plant project in Pichit.
project reached COD and began
distributing electricity since 30
June 2019,

Super Earth December
Ltd. began On 31 December 2020, SEE 6
ution of 9.0 had three projects consisting of
city from the the Loc Ninh 1 Project, the Loc
nergy power Ninh 2 Project and the Loc Ninh
. 3 Project with a total generation
capacity of 550 megawatts
which reached COD and began
distributing electricity for EVN.

The Company’s Shareholding Structure for Renewable Energy Power Plant Projects in Thai

Super Energy Corporation PCL
Registered Capital: 3,281,935,872.80 baht

Super Energy Group Co., Ltd. Open Technology Co., Ltd. Super Earth Energy Co., Ltd.
Shares Held: 100% Shares Held: 76.25% Shares Held: 100%

Super Solar Energy Co., Ltd. Super Wind Energy Co., Ltd.: Super Sky Energy Co., Ltd.
Shares Held: 100% Shares Held: 100% Shares Held: 70%
Super Sky Energy 2 Co., Ltd.
PT Drive (Thailand) Co., Ltd. Energy Serve Land Co., Ltd. Lemon Gold Farm Co., Ltd. Shares Held: 100%
Shares Held: 95% Shares Held: 100% Shares Held: 76% Super Sky Energy 3 Co., Ltd.
Shares Held: 100%
Root Sun Co., Ltd. Power Technology International Land Co., Ltd. Super Solar (Thailand) Co., Ltd. Super Sky Energy 4 Co., Ltd.
Shares Held: 100% Shares Held: 100% Shares held: 100% Shares Held: 100%
Super Sky Energy 5 Co., Ltd.
Pro Solar One Co., Ltd. NPS Star Land Co., Ltd. Millennium Act Co., Ltd. Shares Held: 100%
Shares Held: 100% Shares Held: 100% Shares Held: 100% Super Sky Energy 6 Co., Ltd.
North Solar Power Co., Ltd. Generous Land Co., Ltd. Shares Held: 49%
Shares Held: 100% Shares Held: 100% 17 Aunyawee Holding Co., Ltd. Green Power Energy Co., Ltd.
World Exchange Asia Land Co., Ltd. Shares Held: 100% Shares Held: 100%
STFE Solar Co., Ltd. Shares Held: 100% Super Earth Energy 1 Co., Ltd.
Shares Held: 100% Electrica Asia Power Co., Ltd. Shares Held: 100%
Tang Sae Yiang Green Power One Co., Ltd. Enserve Technology Co., Ltd. Shares Held: 100%
Shares Held: 100% Shares Held: 100% Media Mark Co., Ltd. Super Earth Energy 8 Co., Ltd.
Shares Held: 86% Shares Held: 100%
Energy Serve Co., Ltd. Asta Power Co., Ltd. Health Planet Management (Thailand) Co., Ltd. Super Earth Energy 9 Co., Ltd.
Shares Held: 51% Shares Held: 49% Shares Held: 100% Shares Held: 100%
Muangthainayu Co., Ltd.
Sri Naga Power Co., Ltd. IQ Green Co., Ltd. Green Bio Mahasarakam Co., Ltd. Shares Held: 92.54%
Shares Held: 100% Shares Held: 49% Shares Held: 100% Nongkhainayu Co., Ltd.
Shares Held: 67%
Amaneuve Co., Ltd. IQ Solar Co., Ltd. IQ Good Co., Ltd.
Shares Held: 49% Shares Held: 49% Shares Held: 100% Holding Company
AIQ Energy Co., Ltd. Thai Green Co., Ltd. Project Company
Power Technology International Co., Ltd. Shares Held: 49% Shares Held: 100%
Shares Held: 49% PKT Co., Ltd.
IQ Energy Co., Ltd. Shares Held: 100%
SPP Six Co., Ltd. Shares Held: 49%
Shares Held: 49%
Equator Solar Co., Ltd.
Solkit Solar Co., Ltd. Shares Held: 49%
Shares Held: 74.5%
Energy Serve One Co., Ltd.
WRP Energy Co., Ltd. Shares Held: 49%
Shares Held: 100%
Energy Serve Two Co., Ltd.
Northeast Future Energy Co., Ltd. Shares Held: 49%
Shares Held: 100%
Energy Serve Three Co., Ltd.
S2P Energy Co., Ltd. Shares Held: 49%
Shares Held: 100%

Apollo Solar Co., Ltd.
Shares Held: 74.43%

WXA 4 Co., Ltd.
Shares Held: 100%

WXA 5 Co., Ltd.
Shares Held: 100%
WXA 6 Co., Ltd.
Shares Held: 100%

WXA 7 Co., Ltd.
Shares Held: 100%

iland

Super Water Co., Ltd.
Shares Held: 100%

Super Speed Construction Co., Ltd.
Shares Held: 100%
Thai Panichnawa Construction and Lang Num Thai Co., Ltd.
Shares Held: 100%
Super Water PPS Co., Ltd.
Shares Held: 90%

The Company’s Shareholding Structure for Overseas Renewable Energy

y Power Plant Projects

Currently, the Company and subsidiaries are directly plant locations in each region of the country and in
and indirectly invested in the business of generating Vietnam:
and distributing electricity from renewable energy with
the following details concerning renewable power

Image of Renewable Energy Power Plant Locations (In
Thailand and Vietnam)

Renewable energy power plant projects in
the northeastern region are in
Mahasarakam, Nakhon Ratchasima,

Chaiyaphum, Ubonratchathani, Nong Bua

Lam Phu.

Renewable energy power plant
projects in the northern region

are in Pichit and Phrae.

Renewable energy power Renewable energy power plant
plant projects in the central projects in southern Vietnam are in
region are in Lopburi, Soc Trang, Bac Lieu, Gia Lai, Phu
Saraburi, Sa Kaeo, Yen, Binh Phuoc, Binh Thuan, Ninh
Samutsongkram, Thuan and An Giang
Samutsakorn, Samutprakarn,
Rayong, Prachinburi, Waste Power Plant
Chacherngsao, Nakhon
Pathom, Ratchaburi,
Ayutthaya and Bangkok.

Renewable energy power plant
projects in the southern region
are in Suratthani, Krabi,
Phetchburi and Prachuabkirikan.

Details of subsidiaries and joint ventures (direct and indirect) as of 28 February 2021 are as follows:

No. Company Registered Shareholding Voting Business Characteristics
Capital (million Ratio Rights
Power Plant Operation & Maintenance
baht) 100.00% Holding Company
100.00% Solar Energy Power Plant
Renewable Energy Businesses 76.01% Holding Company
100.00% Solar Energy Power Plant
1 Super Energy Corporation Co., Ltd. 3,281.94 100.00% Solar Energy Power Plant
10,000.00 100.00% Solar Energy Power Plant
2 Super Energy Group Co., Ltd. 10,000.00 100.00% 100.00% Solar Energy Power Plant
100.00% 100.00% Holding Company
3 Super Solar Energy Co., Ltd. 1.00 76.01% 100.00% Solar Energy Power Plant
150.00 100.00% 85.65% Solar Energy Power Plant
4 Lemon Gold Farm Co., Ltd. 263.25 100.00% 100.00% Solar Energy Power Plant
150.00 100.00% 100.00% Solar Energy Power Plant
5 Root Sun Co., Ltd. 280.00 100.00% 100.00% Solar Energy Power Plant
2,500.00 100.00%
6 Pro Solar One Co., Ltd. 1,320.00 100.00% 100.00% Solar Energy Power Plant
401.20 85.65%
7 PT Drive (Thailand) Co., Ltd. 680.00 100.00% 100.00% Solar Energy Power Plant
276.00 100.00% 75.52% Solar Energy Power Plant
8 Green Bio Mahasarakam Co., Ltd. 136.00 100.00% 51.00% Solar Energy Power Plant
51.00% Solar Energy Power Plant
9 Millennium Act Co., Ltd. 68.00 100.00% 86.01% Solar Energy Power Plant
100.00% Solar Energy Power Plant
10 17 Aunyawee Holding Co., Ltd. 110.00 100.00% 98.97% Solar Energy Power Plant
198.00 74.43% 99.30% Solar Energy Power Plant
11 Media Mark Co., Ltd. 903.50 49.00% 51.08% Solar Energy Power Plant
1,103.00 51.00% 51.08% Solar Energy Power Plant
12 Health Planet Management Co., Ltd. 412.50 49.00% 51.08% Solar Energy Power Plant
495.00 49.00% 100.00% Solar Energy Power Plant
13 Electrica Asia Co., Ltd. 669.00 49.00% 100.00% Solar Energy Power Plant
85.00 74.50% 100.00% Solar Energy Power Plant
14 North Solar Power Co., Ltd. 85.00 49.00% 100.00% Solar Energy Power Plant
490.00 49.00% 100.00% Solar Energy Power Plant
15 Tang Sae Yiang Green Power One Co., 655.00 49.00% 49.00% Solar Energy Power Plant
Ltd. 1,394.00 100.00% 49.00% Solar Energy Power Plant
85.00 49.00% 49.00% Solar Energy Power Plant
16 STFE Solar Co., Ltd. 85.00 49.00% 49.00% Solar Energy Power Plant
85.00 49.00%
17 Apollo Solar Co., Ltd. 85.00 49.00%
92.75 49.00%
18 Power Technology International Co., Ltd. 33.13 49.00%
198.75 49.00%
19 Energy Serve Co., Ltd. 69.85 49.00%

20 Amaneuve Co., Ltd.

21 Sri Naga Power Co., Ltd.*

22 SPP Six Co., Ltd.

23 Solkit Solar Co., Ltd.

24 Northeast Fugure Energy Co., Ltd.

25 S2P Energy Co., Ltd.

26 WRP Energy Co., Ltd.

27 Equator Solar Co., Ltd.

28 WXA 4 Co., Ltd.*

29 WXA 5 Co., Ltd.*

30 WXA 6 Co., Ltd.*

31 WXA 7 Co., Ltd.*

32 IQ Solar Co., Ltd.

33 AIQ Energy Co., Ltd.

34 IQ Energy Co., Ltd.

35 IQ Green Co., Ltd.

No. Company Registered Shareholding Voting Business Characteristics
Capital (million Ratio Rights
Solar Energy Power Plant
baht) 49.00% Holding Company
100.00% Land Development
36 Asta Power Co., Ltd. 248.00 49.00% 49.00% Land Development
49.00% Land Development
37 Enserve Technology Co., Ltd. 1.00 100.00% 49.00%
Land Development
38 Energy Serve One Co., Ltd. 1.00 49.00% 100.00%
39 Energy Serve Two Co., Ltd. Land Development
1.00 49.00% 100.00% Land Development
100.00% Land Development
40 Energy Serve Three Co., Ltd. 1.00 49.00% 100.00% Land Development
100.00%
41 Power Technology International Land 100.00 100.00% 100.00% Holding Company
Co., Ltd. 70.00% Holding Company
100.00% Holding Company
42 NPS Star Land Co., Ltd. 0.10 100.00% 100.00% Holding Company
100.00% Holding Company
43 Generous Land Co., Ltd. 0.10 100.00% 100.00% Holding Company
100.00% Holding Company
44 Energy Serve Land Co., Ltd. 0.10 100.00% 100.00% Waste Energy Power Plant
100.00% Waste Energy Power Plant
45 World Exchange Asia Land Co., Ltd. 1.0 100.00% 100.00% Holding Company
Waste Energy Power Plant (industrial
46 Super Earth Energy Co., Ltd. 1,000.00 100.00% 100.00% waste)
5.00 Holding Company
47 Super Sky Energy Co., Ltd. 70.00% 100.00% Holding Company
1,000.00 100.00% 100.00% Holding Company
48 Super Earth Energy 1 Co., Ltd. 92.54% Waste Energy Power Plant
116.00 100.00% 67.00% Solar Energy Power Plant
49 Super Earth Energy 2 Co., Ltd. 100.00% Solar Energy Power Plant
136.00 100.00% 100.00% Solar Energy Power Plant
50 Super Earth Energy 3 Co., Ltd. 120.00 100.00%
128.00 100.00% Information & Communication
51 Super Earth Energy 4 Co., Ltd. 182.00 100.00% 76.25% Technology
1,000.00 49.00%
52 Super Earth Energy 5 Co., Ltd. 100.00% 100.00% Raw Water, Tap Water and Industrial
1.00 100.00% Water Production and Distribution
53 Super Earth Energy 6 Co., Ltd. 89.99% Raw Water, Tap Water and Industrial
Water Production and Distribution
54 Super Earth Energy 7 Co., Ltd. 90.00% Raw Water, Tap Water and Industrial
Water Production and Distribution
55 Super Earth Energy 8 Co., Ltd. 100.00% Construction Contracting and

56 Green Power Energy Co., Ltd. 405.00 100.00%

57 Super Wind Energy Co., Ltd. 5,000.00 100.00%
58 Super Solar (Thailand) Co., Ltd. 0.1 100.00%
59 Muangthainayu Co., Ltd. 92.54%
60 Nongkhainayu Co., Ltd. 670.00 67.00%
61 IQ Good Co., Ltd. 1,000.00 100.00%

62 Thai Green Co., Ltd. 100.00 100.00%

63 PKT Green Co., Ltd. 121.00 100.00%

Information Technology Business 125.00

64 Open Technology PCL. 40.00 76.25%

Water Production and Distribution Business

65 Super Water Co., Ltd. 100.00 100.00%

66 Panichnawa Construction and Lang Num 50.00 89.99%
Thai Joint Venture Co., Ltd.

67 Super Water PPS Co., Ltd. 1.00 90.00%
100.00 100.00%
68 Super Speed Construction Co., Ltd.

No. Company Registered Shareholding Voting Business Characteristics
Capital (million Ratio Rights Consultation Service
Solar Energy Power Plant Business
baht) 100.00% Investment and Development
100.00% Holding Company
Company’s Located in Foreign Countries 75.00% Holding Company
100.00% Holding Company
69 Super Energy (East) Pte Ltd. SGD200,000 100.00% 100.00% Holding Company
100.00% 100.00% Holding Company
70 SUPER ENERGY GROUP (HONGKONG) HKD 75.00% 100.00% Holding Company
CO.,LTD 100,000 100.00% 100.00% Holding Company
100.00% 100.00% Holding Company
71 SUPER ENERGY-GA JAPAN 1 GK JPY 100.00% 100.00% Holding Company
100,000 100.00% 90.00% Solar Energy Power Plant
100.00%
72 SUPER ENERGY-JAPAN 2 GK JPY 100.00% 100.00% Solar Energy Power Plant
100,000 100.00%
90.00% 100.00% Solar Energy Power Plant
73 SUPER SOLAR ENERGY (HONGKONG) 1 HKD 100.00%
50,000 100.00% 100.00% Solar Energy Power Plant

74 SUPER SOLAR ENERGY (HONGKONG) 2 HKD 100.00% 100.00% Solar Energy Power Plant
50,000 100.00%
100.00% 100.00% Solar Energy Power Plant
75 SUPER SOLAR ENERGY (HONGKONG) 3 HKD 100.00%
100,000 100.00% Solar Energy Power Plant
Solar Energy Power Plant
76 SUPER SOLAR ENERGY (HONGKONG) 4 HKD 100.00%
100,000 100.00%

77 SUPER WIND ENERGY HKD
(HONGKONG) CO.,LTD 100,000

78 SUPER WIND ENERGY HKD
(HONGKONG) 1 CO.,LTD 100,000

79 SINENERGY NINH THUAN POWER CO., VND
LIMITED 62,943,000,00

0

80 Nam Thuan Energy Investment Joint VND
Stock Company 180,000,000,0

00

VND

81 Nam Viet Phan Lam Co.,Ltd 180,000,000,0

00

82 Nam Binh Energy Investment Joint Stock VND
CompanCO., LTD 200,000,000

83 Everich Binh Thuan Energy Limited VND
Liability Company 206,250,000,0

00

84 Van Giao Solar Energy Plant Joint Stock VND
Company 15,000,000,00

0

85 Van Giao Solar Power Plant Joint Stock VND
Company 15,000,000,00

0

86 THINH LONG PHU YEN SOLAR POWER VND

No. Company Registered Shareholding Voting Business Characteristics
JOINT STOCK COMPANY Capital (million Ratio Rights
Wind Energy Power Plant in Vietnam
baht) 90.00%
Wind Energy Power Plant in Vietnam
67,008,000,00 90.00% Holding Company
73.00% Holding Company
0 51.00% Holding Company
51.00% Solar Energy Power Plant
Super Wind Energy Cong ly Soc Trang VND 81.10% Solar Energy Power Plant
Joint Stock Company 51.00% Solar Energy Power Plant
87 17,025,000,00 90.00% 51.00% Holding Company
100.00% Holding Company
0 90.00% Wind Energy Power Plant in Vietnam
99.00% Wind Energy Power Plant in Vietnam
88 Super Wind Energy Cong ly Bac Lieu VND 90.00% 100.00% Wind Energy Power Plant
Joint Stock Company 2,300,000,000 100.00%

89 SSE Vietnam 1 Joint Stock Co.,Ltd VND 73.00%
63,000,000,000

90 SSE LN2 Joint Stock Co.,Ltd VND 51.00%
50,000,000,000

91 SSE BP 3 Joint Stock Co.,Ltd VND 51.00%
50,000,000,000

92 Loc Ninh Energy JSC VND 81.10%
90,000,000,000

93 Loc Ninh 2 Energy JSC VND 51.00%
50,000,000,000

94 Loc Ninh 3 Energy JSC VND 51.00%
50,000,000,000
95 Super Energy (East)1 PTE Co.,LTD
96 Solar NT Holding Co.,LTD SGD200,000 100.00%

97 HBRE Gia Lai JSC USD1,000,000 90.00%

VND 99.00%
50,000,000,000

98 HBRE Phu Yen JSC VND 100.00%
99 Vietnam Wind Holding Pte.LTD 50,000,000,000

SGD50,000 100.00%

Remarks: On 16 November 2020, the Company’s Board of Directors Meeting No. 7/2563 decided to approve entry into a transaction to sell
of investments in SWEC1 at 50.99 percent of registered capital to Cong Ly Construction-Commerce-Tourism Company Limited (Cong Ly), a
company in Vietnam. The sale took place on 28 October 2021.

2. Business Operation Characteristics distributing electricity from renewable energy power
plants and connected businesses, the information and
Super Energy Corporation Public Company communication technology business and the water
Limited (the Company or SUPER) was founded on 20 production and distribution business. The Company’s
December 1994. Currently, the Company is engaged business structure can be divided into three main
in the renewable energy business and the Company businesses consisting of the renewable energy power
has a policy to provide renewable energy power plant plant business, the information and communication
operation and maintenance services. In addition, the technology business and the water production and
Company holds shares in other holding companies distribution business.
engaged in the main business of generating and

2.1 Operation and Maintenance services: O&M commercial operations with a capacity of 1,400.32
This business is operated by Super Energy megawatts in Thailand and Vietnam in adition to a
18.00-megawatt waste energy power plant (industrial
Corporation Public Co., Ltd. and involves providing waste) which began commercial operations. The
operation and maintenance services, substation and aforementioned renewable energy power plants need
transmission cable management, etc., for projects of effective operation and maintenance services after the
subsidiaries in which SUPER directly and indirectly aforementioned power plants began commercial
holds shares after the aforementioned power plant operations, which is important and necessary for
projects reached the commercial operation date in following up on work because renewable energy
order to maintain power plant machinery and manage power plant designs, installation and selection of
power plants to generate electricity at full efficiency. machines and equipment require personnel with
The Company has a clear policy to operate in the special knowledge and capabilities in managing and
business of maintaining power plants belonging to the maintaining systems with coverage of all necessary
Company’s group and/or other outside companies in work, particularly waste energy power plants
the future with an objective to expand the scope of (industrial waste), which have complex generation
business to the construction contracting business and processes.
processing of renewable energy power plants in the
future. In order for power plants to be able to
generate at full efficiency, the Company provides
Currently, renewable energy power plant consultation services and manages construction of
projects under the Company’s group have begun substations and 115-kV transmission cables. The
Company provides personnel with knowledge and
ability for the scope of assigned work with sufficient
experience and numbers consisting of project
engineers, technical staff and security guards, etc.

The Company currently provides services
under operations and maintenance service contracts
with coverage of the following services work:

1. Operating work
2. Maintenance material and tools work
3. 3rd party or specialist service work
4.Facility for O&M plant staff work
5.Insurance work
6.Other service work

2.1.1 Products and Services prepared in 15 days after the end of business days in
each month.
Power plant operation and maintenance
services are renewable energy power plant operation 4 . Inspections are performed every two
and maintenance services provided for each project. months to inspect visual equipment according to the
The Company provides knowledgeable and capable operations and maintenance manual prepared by the
personnel to perform power plant maintenance, test manufacturer, etc.
readiness, test electricity power, monitor and process
the value of electricity generated, procure equipment, 5 . Quarterly inspections consist of
coordinate and control operations, train teams, inspections of project fences, control buildings, office
provide consultation and manage the project in the buildings, substations and road conditions for safe
area of that power plant. use, etc.

Scope of Work 6 . Annual inspections consist of inspections
1 . Daily work such as light intensity of functional status inside and outside main equipment
such as 22 kV switch gears, 22 kV ring main units, 22
monitoring and testing, PV system data checks, kV relay testing, HV cable insulation testing, inverter
collection and management, recording units of testing, cleaning parts in equipment and testing work
electricity generated in each day, daily records of systems, etc.
significant events, monitoring of the weather including
the environment around power plants, maintenance of 7 . Inspections performed every two year
equipment used to test work and cooperate with local consist of wiring and duct system testing, etc.
agencies in testing or data collection along with
providing knowledge and creating understanding Consultation services for management of
among people who are interested and the general substation and 115 kV transmission cables are
public. engineering and management services ranging from
project feaisiblity studies, design, construction
2. System management such as consultation supervision, coordination to facilitate construction,
and jointly seeking guidelines to maximize electricity substation project and 115 kV management for
generation efficiency, estimate electricity generation functionality and seamless connection to electricity
capacity, power plant work system checking and authority systems.
maintenance under correct and sufficient safety
standards. 2.1.2 Market and Competition

3 . Preventive maintenance reports are In the past 2-3 years, growth in the
prepared on a monthly basis to confirm asset renewable energy power plant business such as solar
inspections, maintenance results, report project energy, waste energy and biomass energy, etc.,
efficiency, check display monitors and inverter followed government support for the private sector to
humidity, check power plant cleanliness, follow-up on invest and develop environmentally-friendly
assessments concerning use of necessary equipment technologies for generating electricity from natural
and other. Preventive maintenance reports are energy such as solar and wind energy or from unused
energy such as agricultural crops including waste,

which is an increasingly important and difficult at appropriate generation capacities consistent with
problem to manage as evident from how investment in designated work plants.
the aforementioned rapidly growing businesses
caused corresponding growth of renewable energy 2) The System Analysis Section studies work
power plant operation and maintenance work. processes and power plant engine operations,
However, most manufacturers usually hire old functions of each type of machinery and equipment by
construction contractors to accept operation and processing results with computer systems to provide
maintenance work in construction contract guarantees data for further development and improvement of
(EPC) in order to allow contractors to install systems power plant efficiency.
and check equipment in that renewable energy power
plant’s operations by using facts in renewable energy 3 ) The System Engineering Section checks,
power plant operations and maintenance, particularly monitors and make corrections if damage occurs to
in solar energy power plants operated by the power plant operating systems including procurement
Company. Apart from cleaning equipment such as of equipment to be consistent with system
solar panels, the heart of the Company’s operations is specifications, etc.
at construction design and system construction. With
good standards and supervision from the beginning, 2.2 Renewable EnergyGeneration and Distribution
operation and maintenance has low risks and
continues effectively. The Company and subsidiaries invested in
the business of generating and distributing electricity
The Company began providing solar energy from renewable energy power plants. In the past, the
power plant operation and maintenance services for Company invested in solar energy power plant
companies in which the Company directly and projects, waste energy power plants (industrial waste)
indirectly holds shares by specifying policies in and the Company invested in solar and wind energy
providing power plant operation and maintenance power plants in Vietnam through Super Energy Group
services, consultant services and management of Co., Ltd., a subsidiary of the Company, according to
substation and 115-kV transmission cable construction the management structure to facilitate business
to make solar energy power plant operations effective. management structure.
However, the Company has a clear policy to engage
in the business of operating and maintaining power Concerning renewable energy power plant
plants in the Company’s group and/or other outside projects including solar energy and waste energy, the
companies in the future by specifying the following Company’s group signed power purchase agreements
work sections:

1 ) The Project Management Section is the
center of all power plant management, control and
operations to facilitate effective electricity generation

with the Electricity Generating Authority of Thailand of 836.72 MW. Every project received power
and/or the Metropolitan Electricity Authority and/or the purchasing price adders and/or feed-in tariffs (FiT) for
Provincial Electricity Authoritywith solar energy power a period of 7 years to 25 years under the
plants having reached the commercial operation date aforementioned agreements consistent with the
in 2011. Currently, the Company has investments in country’s development and promotion of renewable
solar and wind energy projects in Vietnam. Solar energy aimed at environmentally-friendly growth.
energy power plants began commercial operations in
a total of nine projects with a total generatioin capacity

Types and Characteristics of the Company’s Domestic Power Purchase Agreements as of 19 March 2021

No. Total Electricity Amount in Power Purchase Agreements (MW) Total Electricity (MW) Amount upon Duration
Reaching COD (years)

1 Power Purchase Agreements with Adder Support for Solar Energy 7.00 7.00 10

Power Plant Projects at 8.00 Baht/Unit

2 Power Purchase Agreements with Adder Support for Solar Energy 5.95 5.95 10

Power Plant Projects at 6.50 Baht/Unit

3 Power Purchase Agreements with Feed-in Tariff Support for Solar 524.15 522.65 25

Energy Power Plant Projects at 5.66 Baht/Unit

4 Power Purchase Agreements with Feed-in Tariff Support for Solar 28.00 28.00 25

Energy Power Plant Projects at 4.12 Baht/Unit

5 Power Purchase Agreements with Adder Support for Waste Energy 26.00 18 7

Power Plant Projects at 3.50 Baht/Unit

6 Power Purchase Agreements with Feed-in Tariff Support for Waste 6 - 20

Energy Power Plant Projects at 5.08 Baht/Unit

7 Power Purchase Agreements with Feed-in Tariff Support for SPP 16 - 20

Hybrid Firm Solar Energy Power Plant Projects at 1.03+Fit V

Baht/Unit

Total 613.10 581.60

Remarks: For the power purchase rate in No. 3, power purchase agreements of some projects are a work-in-progress and will

have a fixed power purchase price in the future.

Types and Characteristics of the Company’s Overseas
Power Purchase Agreements as of 28 February 2021

No. Total Electricity Amount in Power Purchase Agreements (MW) Total Electricity (MW) Amount upon Duration
Reaching COD (years)

1 Power Purchase Agreements with Feed-in Tariff Support for Solar 286.72 286.72 20

Energy Power Plant Projects at 9.35 UScents/kWh

2 Power Purchase Agreements with Feed-in Tariff Support for Solar 550.00 550.00 20

Energy Power Plant Projects at 7.09 UScents/kWh

3 Power Purchase Agreements with Feed-in Tariff Support for Wind 171.00 - 20

Energy Power Plant Projects at 9.8 UScents/kWh

4 Power Purchase Agreements with Feed-in Tariff Support for Wind 250.0 - 20

Energy Power Plant Projects at 8.5 UScents/kWh

Total 1,257.72 836.72

2.2.1 Characteristics of Products and Services maintenance is simple. Most importantly, the
aforementioned activities have no environmental
Electricity Generation and Distribution from the Solar impacts. However, use of renewable energy such as
Energy Power Plant Business solar energy has generation time limits. Although solar
energy generation has limits, solar energy generation
The Company indirectly holds shares is necessary to provide electricity for the entire
through SEG, a subsidiary, and the business is system. Therefore, management is necessary and
operated by Super Solar Energy Co., Ltd. (SSE) and electricity generation needs to be integrated with
subsidiaries to invest and develop the business of available energy sources such as natural gas and
generating and distributing electricity from solar goal, which are being depleted by the day. Therefore,
energy power plants and connected businesses. solar energy currently plays an important role as a
Currently, the Company has a total of 109 domestic necessary option.
and overseas power plant projects with a capacity of
1,400.32 megawatts and 100 projects with a capacity Electricity generation from solar energy
of 563.60 megawatts are located in Thailand while 9 converts light energy into electricity by using
projects are located in Vietnam with a generation semiconductors such as silicon, which is the most
capacity of 836.72 megawatts. inexpensive and most available on Earth, to
manufacture pure thin panels in scientific processes.
Sunlight is a greatest natural energy source. Immediately when light comes into contact with
Solar energy is clean and readily available with limited panels, light with energy particles called photons will
use because sunlight is available only in daytime and transfer energy to electrons in semiconductors until
sunlight intensity is not certain because of there is sufficient energy to escape from the atom’s
dependence on weather conditions and changing gravity and move freely. When electrons have full
seasons. Solar enegy is a type of inexhaustible movement, direct current electricity is generated. The
renewable energydespite high cost when compared to main components of solar panels are two types of
costs in generating other energy. However, after semiconductors called “P-N Junctions.” When sunlight
sunlight gained more interest, new technologies were hits solar panels, energy is transferred to
developed to have higher efficiency and lower prices. semiconductor atoms, creating electrons and free
In addition, solar energy power plant construction and holes at junctions. When connected to outside circuits
such as when light bulbs are connected to junctions,
electrons/holes that provide direct current electricity is
provided for outside circuits and will continue to
provide electricity as long as sunlight is in contact with
panels, allowing electricity to be used immediately.

Key Variables of Solar Panel Functions
The main variables that cause solar panels to

have varying efficiency in different areas with