GPSC and NNCL ink deal on smart grid
Global Power Synergy Plc (GPSC), the SET-listed power business arm of PTT Plc, plans to set up Thailand’s first smart grid project at Navanakorn Industrial Estate along with Navanakorn Plc (NNCL) at a total cost of 2 billion baht.
The memorandum of understanding between GPSC and NNCL was signed yesterday by the chief executives of both companies in Bangkok.
The two companies have agreed to set up a pilot project at Navanakorn Industrial Estate to include 0.7 megawatts of solar panels on the rooftop of the water treatment plant, an energy storage system and additional infrastructure.
The pilot project will begin operating by March, after which time the two firms will enter into a long-term business plan.
The tentative site of the project is in the Eastern Economic Corridor, but the partners have agreed to channel a combined US$50 million (1.63 billion baht) into the venture.
President and chief executive Toemchai Bunnag said the move is in line with national energy policy, which includes smart grid projects nationwide. The development of solar rooftop projects will require a total investment of 2 billion baht.
Mr Toemchai said the smart grid at Navanakorn Industrial Estate will be the first project in Thailand that supplies power more efficiently than traditional systems. Unstable solar energy will be converted into a power supply through the facility’s energy storage system.
GPSC announced its intention to diversify into the energy storage business last year by acquiring energy startup 24M in the US. Last year, the company received a licence agreement to commercially produce energy storage devices, and set up production plant in Thailand.
Mr Toemchai said the final site of the plant will be announced to the public soon.
GPSC’s power projects generate 1,400MW. By 2019, it expects capacity of 1900MW after several projects under construction begin operations.
Nipit Arunvong Na Ayudhaya, chief executive of NNCL, said the capacity of the solar rooftops to be installed in NNCL’s 200 factories could be close to 50MW. Rising power bills are seeing increasing numbers of factories interested in solar rooftops.
GPSC shares closed yesterday on the Stock Exchange of Thailand at 64.50 baht, up 1.75 baht, in heavy trade worth 1.37 billion baht.