Thailand: SPCG sees 26% rise in solar power

Thailand: SPCG sees 26% rise in solar power

SET-listed SPCG Plc, Thailand's second largest solar farm power plant, says
it expects to expand its power-generating capacity by another 25.7% within
next year.

With the planned increase, the company's total power-generating capacity
would reach 327 megawatts by the end of next year, compared with 261MW at
the end of this year.

Chairman and chief executive Wandee Khunchornyakong said the new operation
capacity will come from Japan's Tottori city, where SPCG has joint business
developments with Kyocera Corporation and the local business operator.

Around 30MW of solar power from its farm in Tottori is expected to be on
grid by the first quarter of next year.

"We plan to expand our business in Japan to as much as 300MW gradually, and
the first stage of development will start at 30MW next year," said Mrs
Wandee.

SPCG was dethroned as Thailand's biggest solar power generating company in
September by SET-listed Super Block Plc, a building materials producer,
which switched its focus from construction materials to renewable energy in
2013.

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

Mrs Wandee said her company received a 30MW solar power generation licence
stipulating specifications and generating capacity of the solar farm.

Th Philippines is facing power shortages as demand grows in line with
economic growth.

"The population is 103 million, but power supply capacity is only 15,000MW,
far below Thailand's capacity of 37,000MW," Mrs Wandee said.

Mrs Wandee said SPCG aims to double its capacity to 500MW by 2020, with
total revenue expected to rise to the range of 8-10 billion baht by then.

To achieve the goal, Mrs Wandee said it will expand its solar model business
throughout the Asia-Pacific region, where demand is still rising fast along
with global warming concerns.

"We will expand not only the power plant model, but also the solar rooftop
model as well as development and operation, or turnkey, of projects," said
Mrs Wandee.

For turnkey projects or engineering, procurement and construction services,
SPCG has seen revenue rise rapidly to 800 million baht this year, up from
400 million in 2015 and 200 million in 2014.

Nine-month revenue dropped to 3.66 billion baht from 3.71 billion year on
year.

Net profit was slightly down to 1.91 billion baht from 1.92 billion baht due
to falling power prices, 11.2 baht per kilowatt hour from 11.5 baht year on
year.

SPCG shares closed yesterday on the Stock Exchange of Thailand at 20.60
baht, unchanged, in trade worth 15.6 million baht.

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Link to Original Article:
http://www.bangkokpost.com/business/news/1141257/spcg-sees-26-rise-in-solar-
power

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com