SET-listed Super Energy Corporation, Thailand's largest operator of solar farms by capacity, plans to increase its revenue in 2024 and 2025 by allocating capital spending of 41.5 billion baht to fund renewable projects in Thailand and Vietnam.
The company expects revenue in 2024 to reach 15 billion baht, rising to 20 billion in 2025.
It said earlier that the company's earnings would grow by 13-15% this year, up from 10 billion baht last year.
The capital expenditure would be used during the period 2023-25.
Super Energy plans to spend 12.4 billion baht of the budget this year, supporting electricity generation projects under power purchase agreements in Thailand and Vietnam, said chief executive Jormsup Lochaya.
Most of the 2023 spending will go to the development of wind farms in Vietnam, including an offshore wind farm with power generation capacity of 30 megawatts in Soc Trang and a near-shore wind farm with a capacity of 70MW in Bac Lieu. Both provinces are in southern Vietnam.
Part of the budget would support projects in Thailand, including the development of rooftop solar panel installation at Mahidol University's Salaya Campus, with capacity of 15MW.
Next year, Super Energy would continue to fund its renewable projects, including a 71MW wind farm in Soc Trang, as well as waste-to-energy projects in Thailand's provinces of Phetchaburi and Nakhon Si Thammarat, and a rooftop solar panel project under a private power agreement, with a budget of 5.5 billion baht, said Mr Jormsup.
In 2025, Super Energy would spend 23.5 billion baht to support projects in Vietnam and Thailand. In Vietnam, the funds would go to the development of Phuyen Wind Energy project, with a capacity of 200MW, and DAK Song Wind Energy project, with a capacity of 50MW.
Part of the budget would go to a waste-to-energy project in Thailand's Nonthaburi province.
Mr Jormsup said the company also plans to list a new firm, to be established to oversee the three waste-to-energy projects in Nonthaburi, Phetchaburi and Nakhon Si Thammarat, on the Stock Exchange of Thailand next year to raise 10 billion baht in funding for the projects' development.
