SPCG sees hot earner in solar rooftops

SET-listed SPCG Plc, Thailand’s secondlargest solar farm developer, expects revenue growth of 14% to 6.3 billion baht this year, driven by rising income from the solar rooftop business, says chairman Wandee Khunchornyakong.

The solar rooftop business will be a key revenue generator for SPCG in Thailand and overseas, Ms Wandee said.

“The company expects revenue from solar rooftops to reach the target of 2 billion baht, up from 938 million last year,” she said.

For the solar farm business, SPCG predicts revenue of 4.3 billion baht, as targeted.

Ms Wandee said the company continues to expand at home and abroad, particularly in Japan, where demand for renewable power remains strong.

This year, the company plans to expand its combined power-generating capacity from its existing 36 solar farms in Thailand to 500 megawatts, from 260MW at present. All 36 solar farms, located in the provinces of Nakhon Ratchasima, Khon Kaen, Nakhon Phanom, Loei, Nong Khai and Lop Buri, began commercial operation in 2014.

SPCG also runs solar farms in Japan with total power-generating capacity of 30MW, located near the Daisen-Oki National Park. They are due to start commercial operation in 2018.

Ms Wandee said the company is still in talks with new partners to form joint ventures focused on Japan and Asean.

“Competition in the solar power industry in Thailand has intensified since the government launched its policies to support and encourage many companies to start investing in this sector. This has forced our company to switch its focus on overseas expansion in order to increase revenue,” Ms Wandee said.

SPCG also operates in the Philippines, where it has just received investment conditions from the country’s state utilities to start on the second phase of its solar farm project.

The company has allocated a five-year (2015-19) investment budget of 5 billion baht for expansion, which will mostly be overseas.

SPCG posted a net profit of 2.3 billion baht in 2016, up from 2.2 billion in the previous year.

SPCG shares closed yesterday on the SET at 22.40 baht, unchanged, in trade worth 34.5 million baht.

KOSOL NAKACHOL An SPCG control room in Bangkok is able to monitor solar power the company produces nationwide. SPCG, which has 36 solar farms across several provinces, are focusing on expansion abroad, citing stiff competition at home.