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The Blue Circle hires two directors

Singapore-based renewable energy developer The Blue Circle has appointed two new directors to boost its operations in Southeast Asia.

Singapore-based renewable energy developer and financing company, The Blue Circle, has appointed two new directors to its board – banking executive Philippe Damas and energy engineering specialist Buranawong Sowaprux.

The hires expand the board committee to five members, in addition to Andrew Affleck, Jean-Francois Peron and Olivier Duguet.

They come hot on the heels of the announcement by the National Energy Policy Council in Thailand – where Blue Circle is an active player – that it will maintain the current power development plan’s national wind generation capacity targets and the advantageous feed-in-tariff of 6.05 THB/kWh. On designated large-scale wind projects, this has rekindled confidence in the country’s wind sector.

“We are pleased to welcome Philippe Damas and Buranawong Sowaprux to our Board of Directors,” said Olivier Duguet, chairman and chief executive officer of The Blue Circle. “Both bring their extensive working experience in Asia and their special relationship with energy and finance in Thailand and Singapore. We highly value the additional and complementary perspectives they bring to our board.”

Prior to joining The Blue Circle, Damas was ING Group retail and private banking chief executive officer for Asia from 2000 to 2009. He has been a board member and chairman of the executive committee of the TMB Bank since 2008. His previous positions included senior roles at JP Morgan Securities and Bruxelles Lambert Bank in Brussels.

He joined ING Group in 2000 and served as chief executive officer of ING Baring in London before heading the ING Private Banking Unit in Amsterdam and ING Retail and Private Banking Asia in Singapore from July 2005 to November 2009.

Sowaprux has over 28 years of experience in the energy sector, having served in various management roles for ExxonMobil Corporation.

Sowaprux joined Esso Thailand Public Company Limited in 1985 and became finance manager in 1989. In 1995, he led a project team to transform Esso (Thailand) PLC to become a public company listed on the Bangkok Stock Exchange.

After serving in the US and Singapore for ExxonMobil Group, Buranawong returned to Thailand in 2002 to become Esso (Thailand) PLC Controller.

He retired in 2013 after holding a management position in ExxonMobil Global Services Company in Houston and being director of ExxonMobil Limited.

In May 2014, The Blue Circle announced the signing of a partnership with fund manager Armstrong Asset Management, which has agreed to commit up to $40 million in equity to fund the construction of wind and solar projects in Southeast Asia developed or acquired by The Blue Circle.