SET-listed BCPG, the renewable power generation arm of energy conglomerate Bangchak Corporation, has commenced commercial operation of 25-megawatt Komagane solar farm in Japan where the company is expanding its clean energy profile.
The facility, located in Nagano prefecture, operates under a power purchase agreement with Chubu Electric Power Co, with a feed-in tariff of ¥36 per kilowatt-hour for 20 years, said Niwat Adirek, president and chief executive of BCPG.
Komagane solar farm is among the energy projects which have already started operation. They have combined electricity generation capacity of 59.7MW.
"We aim to have a total capacity of 89.7MW in Japan," said Mr Niwat, with additional capacity of 30MW coming from other solar power projects now under development.
The company is developing Yabuki solar farm in Fukushima, with installed capacity of 28MW. It will sell electricity to Tohoku Electric Power Co.
BCPG also owns two other projects outside Japan: a 25MW solar farm in Taiwan and 4.9MW rooftop solar power project in Chiang Mai University's Smart City scheme.
The company allocated capital spending worth 30 billion baht for this year to support a five-year plan to increase generation capacity, based on renewable resources, to 2 gigawatts, up from 1.1GW at present, by 2026.
The move is in line with a global trend in renewable energy development.
BCPG also decided to increase five-year capital expenditure by 46% to 95 billion baht, an increase from 65 billion baht under a previous plan, as it wants to catch new business opportunities in the renewable energy sector across Asia.
"We've revised up our capex [capital expenditure] because we see a potential to expand our capacity in order to stand among leading renewable energy firms in the region," said Mr Niwat.
BCPG injected more money to its capex after selling its 33% share in Star Energy Group Pte, which operates a geothermal power plant in Indonesia, to Springhead Holdings Co for US$440 million.
