On 17 August 2016, the subsidiary, Chai Watana Green Power Company Limited, acquired the shares from 100% of the existing shareholders of KOKCHAROEN GREEN ENERGY Co., Ltd. with a registered capital of 1,000,000 baht, divided into 10,000 ordinary shares with a par value of 100 baht per share. Later, October 17, 2016, the registered capital was increased from 1,000,000 baht to 60,000,000 baht for the operation of the biomass power plant project, which is a power generation plant from eucalyptus bark, and a mixed wood of 9.6 MW capacity. Furthermore, amending the agreement according to the contract of electricity sale VSPP-PEA-042/2558 by changing the rate of electrical bill from Adder rate to Feed in Tariff (Fit) with the Regional Electricity Authority on 17 October 2016. The project contract is 15 years and 4 months from the date of commencement of electricity trading (COD). The electricity produced by the project will be sold through transmission network of the Provincial Electricity Authority (PEA) in the amount of 8 megawatts of electricity at a voltage of 22,000 volts. The power purchasing point was installed at Sala Lamduan Sub-district Mueang Sa Kaeo District Srakaew Province and is expected to have revenue from electricity sales in July 2018, with an investment value of approximately 959 million baht. In December 2016, a memorandum of agreement for the purchase of machinery with installation and building construction for biomass power plants have been signed. At present, KOKCHAROEN GREEN ENERGY Co., Ltd received Royalty 4 license (permit for factory operation) to operate a biomass power plant from the Energy Regulatory Commission (ERC) on 14 Feb 2017. On May 9, 2017 the registered capital was increased by 240 million baht from 60 million baht to 300 million and also registered the paid-up capital with the Department of Business Development Ministry of Commerce on 23 Aug 2017 On 9 Aug 2017, the company change the registered name to Green Power 2 Company Limited "GP2"