Energy Absolute Pcl\u2019s Chief Executive Officer Somphote Ahunai has seen almost half of his fortune erased after shares of the renewable energy company he founded turned into the industry\u2019s worst performer the past month. Somphote, whose family owns about 40 percent of the Bangkok-based company, saw his fortune slump to as low as $1.6 billion as the bio-fuel and solar-power producer slid 46 percent in a month, according to the Bloomberg Billionaire\u2019s Index. That was the biggest drop among the 456 energy companies with market values exceeding $1 billion, according to data compiled by Bloomberg. Somphote wasn\u2019t available for comment Tuesday, according to an assistant. Omsin Siri, the company\u2019s vice president for investor relations, said that some investors may be concerned about the possibility that Thailand\u2019s government won\u2019t increase electricity purchases from renewable energy from current levels. "Energy Absolute faces a major headwind with a possible delay in the government\u2019s new renewable energy bidding,\u201d said Jitra Amornthum, head of research at Finansia Syrus Securities Pcl. \u201cThe new battery plant will take time to contribute to earnings and will need substantial financing,\u201d she said by phone, referring to a plan to develop an energy-storage plant. Thailand\u2019s government doesn\u2019t plan to increase electricity generation purchases from renewable sources through 2023 as it has enough reserve power, the Bangkok Post reported March 28, citing Energy Minister Siri Jirapongphan. The recent share decline more than wiped out a rally that started with a one-day surge of 19.3 percent on Jan. 11 after Thanachart Securities Co. analysts more than doubled their share-price target. The brokerage said in a report at the time that Energy Absolute was positioned as Southeast Asia\u2019s energy storage and renewable energy industry leader. Energy Absolute plunged 13 percent to 34 baht Tuesday, down from 69 baht as recently as Feb. 12. It reached a record 69.5 baht on Jan. 22. The stock was unchanged as of 10:23 a.m. Wednesday.