SET-listed TPC Power Holding Plc (TPCH), the renewable energy arm of engineering and construction service provider Thai Polycons Plc, expects its revenue to grow by 30-40% this year, driven by a waste-to-energy power plant and two biomass power plants.
Managing director Cherdsak Wattanavijitkul said revenue will increase from last year's 2.47 billion baht. The company looks certain to record double digit growth for two consecutive years after revenue grew by 38% last year, after recording 1.78 billion baht in 2020.
A waste-to-energy power plant in Nonthaburi, with an electricity generation capacity of 8 megawatts, will help the firm rack up earnings after the facility, run by its subsidiary Siam Power Co, started operations last year.
Two biomass power plants, each generating 2.8MW of electricity for sale under power purchase contracts, are scheduled to start operating by the end of this year.
Construction of the two power plants, located in Pattani's Mae Laen district and Yala's Bannang Sata district, is 68% completed.
The three facilities will increase TPCH's capacity under power purchase contracts to 122MW this year, up from 116.3MW from its 11 biomass and biogas power plants.
The company aims to achieve a target of 250MW of installed capacity by 2023.
Additional capacity will come from new waste-to-energy projects as well as biomass and biogas projects, all of which will help the government increase the proportion of renewable fuel for power generation to 50% in the next 20 years under its national power development plan.
This year, TPCH expects to participate in a new auction of 34 waste-to-energy projects, with a combined capacity of 282.98MW.
The Energy Regulatory Commission is going to approve investment criteria for participating firms to kick start the auction.
