Absolute Clean Energy Public Company Limited 140/6 ITF Tower 7th floor Silom road, Suriyawong, Bangrak, Bangkok 10500 No. ACE-ACC-1/2019 12 November 2019 Subject Management Discussion and Analysis
repaying short-term loan (Bridge Financing) that the company used to acquire Glow Energy Public Company Limited (“GLOW”) was completed in Q4/2019. The company has been successful following the capital
future growth plans. In terms of the progress on Tender Offer of Glow Energy Public Company Limited (GLOW), after the company have completed the Mandatory Tender Offer from GLOW which ended on the 22nd May
Thailand Absolute Clean Energy Public Company Limited (“the Company”), are pleased to provide you our management discussion and analysis for the year ended 31 December 2019 of the Company and the
& Analysis Management Discussion & Analysis (MD&A) Q1/2018 3 • Energy Consumption in Q1/2018 Thailand’s economic overview for Q1/2018 indicates that the Gross Domestic Product (GDP) has been revaluated to grow
decreased by 73% due to the decline of Availability Payment (AP) from the decrease in Weight factor. Furthermore, the reserve shutdown caused the decrease in revenue from Energy Payment (EP) which also caused
Plant: Total revenue in Q4/2017 decreased by 45% due to the maintenance shutdown caused the revenue from Availability Payment (AP) and Energy Payment (EP) to fall in which at the same time, the
and in budget for 26 consecutive projects during the last 7 years. Investment in the industrial waste to energy power plant project In January 2018, B.Grimm Power announced the investment in the