Absolute Clean Energy Public Company Limited (“the Company” or “ACE”) operates mainly as a holding company which invests in companies that either generate and sell electricity and steam both domestically and internationally or support the generation of electricity and steam.
For the year ended December 31, 2025, the Company holds shares in 43 subsidiary companies, consisting of 1 direct and 42 indirect subsidiary companies* (the Company and subsidiary companies combined are called “The Group”). The details are as follows.
| Subsidiary Company | Initials | Shareholding proportion | Business Type | |
|---|---|---|---|---|
| Direct Subsidiary Company | ||||
| 1. | Asia Clean Energy Co., Ltd. | ASCE | 100.0% | A holding company investing in businesses engaged in the generation and distribution of electricity and steam, as well as other related or supporting businesses, primarily within Thailand. |
| Indirect Subsidiary Company* | ||||
| 1. | Advance Clean Power Co., Ltd. | ACP | 100.0% | Biomass Power Plant Production and distribution of electricity and steam business |
| 2. | Alliance Clean Power Co., Ltd. | ALCP | 100.0% | Biomass Power Plant, MSW Power Plant Production and distribution of electricity and steam |
| 3. | National Clean Energy Co., Ltd. | NCE | 90.0% | Shareholding by ALCP, Not started operation, Developing municipal solid waste management power plant projects |
| 4. | Absolute Power Plant Co., Ltd. | ABP | 90.0% | Shareholding by ALCP, Not started operation, Developing municipal solid waste management power plant projects |
| 5. | Advance Agro Power Plant Co., Ltd. | AAPP | 100.0% | Biomass Power Plant Production and distribution of electricity and steam |
| 6. | Advance Asia Power Plant Co., Ltd. | AAP | 100.0% | Biomass Power Plant Production and distribution of electricity and steam, sorting and land-fill non-hazardous waste |
| 7. | Advance Bio Asia Co., Ltd. | ABA | 100.0% | Biomass Power Plant Production and distribution of electricity and steam |
| 8. | Advance Farm Tree Co., Ltd. | AFT | 100.0% | Biomass Power Plant Production and distribution of electricity and steam |
| 9. | Bio Power Plant Co., Ltd. | BPP | 100.0% | Biomass Power Plant Production and distribution of electricity and steam |
| 10. | ACE SOLAR Co., Ltd. | ACE SOLAR | 100.0% | Biomass Power Plant and Solar Power Plant Production and distribution of electricity and steam |
| 11. | Absolute Clean Water Co., Ltd. | ACW | 100.0% | Biomass Power Plant Production and distribution of electricity and steam |
| 12. | Advance Agro Asia Co., Ltd. | AAA | 100.0% | Natural Gas Power Plant Production and distribution of electricity and steam |
| 13. | Advance Asia Energy Co., Ltd. | AAE | 100.0% | Biomass Power Plant Production and distribution of electricity and steam |
| 14. | Advance Bio Energy Co., Ltd. | ABE | 100.0% | Biomass Power Plant Production and distribution of electricity and steam |
| 15. | Absolute Clean Engineering and Service Co., Ltd. | ACES | 100.0% | Biomass Power Plant Production and distribution of electricity and steam and maintenance engineering services |
| 16. | Power Supply and Maintenance Service Co., Ltd. | PSMS | 100.0% | Engineering and maintenance services for renewable energy power plants, providing services primarily to the Group’s power plant projects |
| 17. | Advance Power Plant Co., Ltd. | APP | 100.0% | Biomass Power Plant Electricity and steam generation and distribution business |
| 18. | Provincial Renewable Energy (Thailand) Co., Ltd. | PRE | 100.0% | Holding Company |
| 19. | Khun Tan Kow Na Community Power Plant Co., Ltd. | KTNP | 90.0% | Shareholding held by PRE, Electricity and steam generation and distribution business (Not yet in operation) |
| 20. | Khun Tan Pattana Community Power Plant Co., Ltd. | KTDP | 90.0% | Shareholding held by PRE, Electricity and steam generation and distribution business (Not yet in operation) |
| 21. | Khun Tan Community Power Plant Co., Ltd. | KTPP | 90.0% | Shareholding held by PRE, Electricity and steam generation and distribution business (Not yet in operation) |
| 22. | Rang Bua Kow Na Community Power Plant Co., Ltd. | RBNP | 90.0% | Shareholding held by PRE, Electricity and steam generation and distribution business (Not yet in operation) |
| 23. | Chom Bueng Rung Rieang Community Power Plant Co., Ltd. | CBRP | 90.0% | Shareholding held by PRE, Electricity and steam generation and distribution business (Not yet in operation) |
| 24. | Renewable Energy (Central) Co., Ltd. | REC | 100.0% | Holding Company |
| 25. | Khun Tan Ruem Chai Community Power Plant Co., Ltd. | KTRC | 90.0% | Shareholding held by REC, Electricity and steam generation and distribution business (Not yet in operation) |
| 26. | Ta Rung Rueang Community Power Plant Co., Ltd. | TRRP | 90.0% | Shareholding held by REC, Electricity and steam generation and distribution business (Not yet in operation) |
| 27. | Khanu Waralaksaburi Community Power Plant Co., Ltd. | WLCPP | 90.0% | Shareholding held by REC, Electricity and steam generation and distribution business (Not yet in operation) |
| 28. | Kamphaeng Phet Community Power Plant Co., Ltd. | KACPP | 90.0% | Shareholding held by REC, Electricity and steam generation and distribution business (Not yet in operation) |
| 29. | Khlong Khlung Development Community Power Plant Co., Ltd. | KHLCP | 90.0% | Shareholding held by REC, Electricity and steam generation and distribution business (Not yet in operation) |
| 30. | Renewable Energy (North) Co., Ltd. | REN | 100.0% | Holding Company |
| 31. | Buriram Ruam Chai Community Power Plant Co., Ltd. | BURC | 90.0% | Shareholding held by REN, Electricity and steam generation and distribution business (Not yet in operation) |
| 32. | Kamphaeng Phet Development Community Power Plant Co., Ltd. | KAMD | 90.0% | Shareholding held by REN, Electricity and steam generation and distribution business (Not yet in operation) |
| 33. | Phitsanulok Community Power Plant Co., Ltd. | PLCP | 100.0% | Shareholding held by REN, Solar power project, Electricity and steam generation and distribution business |
| 34. | Renewable Energy (Northeast) Co., Ltd. | RENE | 100.0% | Holding Company |
| 35. | Ta Pattana Community Power Plant Co., Ltd. | TDPP | 90.0% | Shareholding held by RENE, Electricity and steam production and distribution business (Not yet commenced operations) |
| 36. | Nong Hong Community Power Plant Co., Ltd. | NHCP | 90.0% | Shareholding held by RENE, Electricity and steam production and distribution business (Not yet operational) |
| 37. | Ta Kow Na Community Power Plant Co., Ltd. | TKNP | 90.0% | Shareholding held by RENE, Electricity and steam production and distribution business (Not yet operational) |
| 38. | Ta Community Power Plant Co., Ltd. | TCPP | 90.0% | Shareholding held by RENE, Electricity and steam production and distribution business (Not yet operational) |
| 39. | Renewable Energy Siam Co., Ltd. | RESM | 100.0% | Holding Company |
| 40. | Khun Tan Rung Rueang Community Power Plant Co., Ltd. | KTRP | 90.0% | Shareholding held by RESM, Electricity and steam production and distribution business (Not yet operational) |
| 41. | Kamphaeng Phet Kow Klai Community Power Plant Co., Ltd. | KPKKC | 90.0% | Shareholding held by RESM, Electricity and steam production and distribution business (Not yet operational) |
| 42. | Nong Bua Lam Phu Community Power Plant Co., Ltd. | NBLDP | 100.0% | Shareholding held by RESM, Solar Farm, Electricity and steam production and distribution |
* Indirect subsidiaries with significant business activities, investments, asset holdings, or contractual arrangements.